The waste-management and energy-infrastructure provider saw its stock gain 1.9% to reach C$19.56 (US$14.30) in late morning trading. Revenue for the period hit C$372 million, up from C$332 million in the prior year, though it fell short of the C$377.3 million FactSet consensus. The company also announced a 5% dividend increase to C$0.105 per share, yielding approximately 2%.

Growth Projects and Financial Targets

The dividend hike caught market observers off guard, as ATB analyst Nate Heywood noted he had not modeled an increase for the near term. Heywood attributed the move to the company’s "strong discretionary cash-flow outlook" and attractive balance sheet. For the full year, Secure Waste Infrastructure projects adjusted EBITDA between C$520 million and C$550 million, largely in line with the C$534.7 million forecasted by analysts.

To sustain this momentum, the company plans to deploy C$75 million toward capital projects in 2026. These investments focus on expanding capacity and upgrading existing infrastructure:

• Completing a new industrial-waste facility in Redwater, Alberta.
• Adding water-disposal wells and pipelines across two existing sites.
• Installing pre-shredding equipment at the Edmonton facility to reduce operational downtime.

The firm’s expansion comes as it seeks to optimize its waste-management portfolio. By prioritizing high-margin infrastructure and pipeline connectivity, management aims to capitalize on increased demand for energy-related waste services throughout Western Canada.