Covanta Holding Stock To Go Ex-dividend Tomorrow (CVA)

NEW YORK ( TheStreet) -- The ex-dividend date for Covanta Holding Corporation (NYSE: CVA) is tomorrow, March 28, 2012. Owners of shares as of market close today will be eligible for a dividend of 15 cents per share. At a price of $16.51 as of 9:30 a.m. ET, the dividend yield is 3.7%.

The average volume for Covanta Holding has been 1.1 million shares per day over the past 30 days. Covanta Holding has a market cap of $1.91 billion and is part of the industrial goods sector and materials & construction industry. Shares are up 20.5% year to date as of the close of trading on Monday.

Covanta Holding Corporation, through its subsidiaries, provides waste and energy services to municipal entities primarily in the United States, Canada, Latin America, Europe, and Asia. The company has a P/E ratio of 29, above the average materials & construction industry P/E ratio of 9.3 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Covanta Holding as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, expanding profit margins, increase in net income and notable return on equity. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full Covanta Holding Ratings Report.

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