J.P. Morgan Reports Initiation Of Common Dividend On Covanta Holding

In a report published by J.P. Morgan, initiation of common dividend and increased buyback continues return of cash to shareholders on Covanta Holding CVA.

J.P. Morgan said that, “Our investment thesis on Covanta is largely based on the company's significant FCF and our expectation that the company would continue returning cash to shareholders following a special dividend and buyback announced last year. Introduction of a common dividend and additional buyback authorization last night is a continuation of our thesis.”

Covanta Holding closed yesterday at $16.54.