Ignoring day-to-day market noise isn’t easy, but some companies make it effortless with steady performance, reliable dividends, and durable growth. Once such stocks are in your portfolio, you can relax instead of watching price charts every morning. One such name that fits this bill perfectly is Waste Connections (TSX:WCN) — a quietly powerful performer worth buying and holding for the long haul.
Also Read: Reliable TSX dividend stocks 2025
A dependable business in a steady industry
Waste Connections might not be the flashiest stock on the market, but it operates in an essential industry that rarely slows down. As one of North America’s largest integrated waste services providers, the company serves millions of customers across 46 U.S. states and six Canadian provinces. Its focus on non-hazardous waste collection and recycling ensures a stable and recurring revenue base across all market conditions.
Over the past decade, WCN stock has soared 476%, making it one of the top compounders in the industrial sector. It currently trades around $243.24 per share with a market cap of $62.5 billion and pays a modest but consistent 0.8% dividend yield. While the yield isn’t high, the company’s track record of annual dividend growth makes it an attractive choice for income-focused investors.
Also Read: Dividend paying stocks Canada
Consistent growth and financial strength
In the third quarter of 2025, Waste Connections reported a 5% year-over-year revenue increase to US$2.46 billion, slightly beating expectations. Its adjusted EBITDA margin of 33.8% showcased effective cost management and strong pricing power despite headwinds from lower commodity prices.
Adjusted earnings rose 7% year over year and 12% sequentially to US$1.44 per share, supported by solid execution and reduced employee turnover. The company also posted record-low safety incident rates, while improving free cash flow helped finance both a dividend hike and share repurchases.
Why it’s a forever stock
Waste Connections stands out for its disciplined capital allocation and shareholder returns. In the most recent quarter, it raised its quarterly dividend by over 11% and repurchased around 1% of its outstanding shares, reflecting management’s confidence in the company’s long-term financial health.
The company continues to expand through small, strategic acquisitions — adding about US$300 million in annualized revenue from completed or pending deals this year. Its focus on recurring revenue, customer retention, and infrastructure investment provides a strong foundation for sustainable growth.
Simply put, Waste Connections is a business built for endurance. It doesn’t rely on booming markets to perform, yet it consistently delivers through earnings growth, efficiency gains, and steady dividend increases — making it a true “buy and hold forever” stock.
Sign Up For our Newsletters to get latest updates
