Waste Connections: Wonderful Business, But Returns Could Be Disappointing

The trash collection and recycling business is very interesting to me primarily due to its relatively consistent demand and the localized monopolies and duopolies that naturally arise. Waste Connections (WCN) is a company that I looked at years ago but didn't pull the trigger on.

Over time, Waste Connections has grown into a network of 300 waste collection operations and 60 solid waste landfills across the United States. They also have operations in Canada. The business itself is relatively boring which is just the kind of thing that I like in a potential investment.

Business performance has been excellent over the last decade which has led the share price to far outpace the S&P 500.

Dividend History

Dividend growth investing is the strategy that most appealed to me when I began my investment journey. It's a very straightforward concept built on investing in businesses that have a history of paying and growing dividends. It's akin to having an apple orchard where you're reaping the fruits, but keeping the tree.

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