Waste Connections (WCN) Proxy filing summary
Event summary combining transcript, slides, and related documents.
Proxy filing summary
2 Apr, 2026Executive summary
Achieved record financial and operational performance in 2025, with revenue up 6.1% to $9.467B and adjusted EBITDA up 7.7% to $3.125B, driven by price-led organic growth and strategic acquisitions.
Returned a record $839M to shareholders and increased the quarterly dividend by 11.1%, marking the fifteenth consecutive year of double-digit dividend growth.
Outperformed the S&P 500, TSX 60, and DJ Waste Index in total shareholder return over the past decade, with a 13.9% CAGR in annual cash dividends since 2010.
Achieved significant improvements in safety, employee retention, and engagement, with a 13% reduction in safety incident rate and a 17% improvement in employee retention.
Voting matters and shareholder proposals
Shareholders will vote on the election of eight directors, a non-binding advisory vote on executive compensation (say-on-pay), and the appointment of Grant Thornton LLP as independent auditor for 2026.
Board recommends voting “FOR” all director nominees, the say-on-pay proposal, and the auditor appointment.
Majority voting policy applies: directors must receive more “FOR” than “WITHHOLD” votes to be elected; those not meeting this must tender their resignation.
Board of directors and corporate governance
Board consists of eight nominees, 89% independent, with an average tenure of 11 years and average age of 65; 38% of nominees are women.
Board committees include Audit, Compensation, Nominating and Corporate Governance, and Executive; all but Executive are composed entirely of independent directors.
Annual board and committee self-evaluations, robust succession planning, and a diversity policy for board and senior management.
Separation of Chairman and CEO roles, with an independent, non-executive Chairman.
Directors and officers are subject to share ownership guidelines, anti-hedging/pledging policies, and a code of conduct and ethics.
Latest events from Waste Connections
- Shareholders to vote on directors, executive pay, and auditor appointment at the 2026 meeting.WCN
Proxy filing2 Apr 2026 - 2026 outlook projects $9.9–$9.95B revenue, margin expansion, and strong shareholder returns.WCN
Investor presentation20 Mar 2026 - Record 2025 margin, strong cash flow, and 2026 growth outlook with sustainability focus.WCN
Q4 202512 Feb 2026 - Q2 revenue and earnings exceeded expectations, prompting a raised full-year outlook.WCN
Q2 20242 Feb 2026 - Q3 revenue up 13.3%, net income up 34.5%, and margin gains led to raised 2024 guidance.WCN
Q3 202418 Jan 2026 - Double-digit growth, record acquisitions, and margin expansion set up strong 2025 outlook.WCN
Q4 20248 Jan 2026 - Industry-leading margins and growth continue, with major investments in landfill and RNG projects.WCN
11th Annual Waste and Environmental Symposium20 Dec 2025 - 2024 saw double-digit growth, record acquisitions, and strong ESG and governance practices.WCN
Proxy Filing1 Dec 2025 - Key votes include director elections, executive pay, and auditor appointment for 2025.WCN
Proxy Filing1 Dec 2025