Waste Management Announces Major Dividend and Share Buyback Increase

Waste Management (WM) has announced that it is increasing its dividend by nearly 15% and has authorized a share repurchase program of up to $3 Billion, a significant increase from its prior buyback of $1.5 Billion.

Not invested in this company, but this is a strong signal from management that they believe the company is undervalued and in a strong financial position. Wanted to get others' thoughts?

https://investors.wm.com/news-releases/news-release-details/wm-announces-planned-145-dividend-increase-and-3-billion-share