Buying "garbage" - WM (15 shares, $23 dividend income)

Waste Management, Inc., (NYSE: WM) does what the name sounds, it provide waste management services. The company does garbage and recycling services for nearly 27 million residential, industrial, municipal and commercial customers in North America.

If there is one type of business that any investor can understand, it's the garbage and recycling business. Developed nations like the United States and Canada generate increasingly enormous amount of garbage and Waste Management is one of a few big companies that operate in this segment of the market. They have a big share of the recycling business and long term garbage handling contracts with local governments and cities.

Waste Management has 12+ straight years of higher dividends, positive earnings and a majority (80+%) of company shares are owned by institutions which makes it a good long term income stock.

This purchase will add $23/yr to my dividend income portfolio

Basic info:
Market CAP: 23B    EPS $2.18   Dividend: 3.2%