Waste Management (NYSE: WM) is flexing this week. Unfazed by the uncertain economy, the resilient trash, recycling, and natural gas business announced a 7.1% increase to its quarterly dividend rate and authorized $1.5 billion for share repurchases.

"The strong and consistent cash flow generation of our business allows WM to continue to fund all our capital allocation priorities," said Waste Management CEO Jim Fish in a press release on Monday.

Here's a closer look at WM's capital return program and why the company is confident enough to pay out even more capital to shareholders -- both directly and indirectly.

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Source Fool.com