Republic Services (RSG) DIvidends Date & History

Key Takeaways

• Modest but growing yield: RSG offers a dividend yield of roughly 1.2% to 1.3%, reflecting its status as a dividend growth stock rather than a high-yield income stock.
• Quarterly payments: Republic Services pays a quarterly dividend, most recently raised to $0.67 per share, with payment typically made around the 15th of January, April, July, and October.
• Long growth streak: The company has increased its dividend for 23 consecutive years, an uncommon record that underscores a durable commitment to returning cash to shareholders.
• Strong coverage: A payout ratio of roughly 35% of earnings and an even lower free cash flow payout ratio near 30% leave ample room for future increases.
• Dividend growth focus: With a five-year dividend growth rate near 8%, RSG appeals primarily to long-term dividend growth investors rather than those seeking immediate high income.

Dividend Overview

Republic Services, Inc. (RSG) is one of the largest environmental services providers in North America, operating across solid waste collection, recycling, and disposal. The company maintains a disciplined, shareholder-friendly dividend policy characterized by consistent quarterly payments rather than a high headline yield. As of late 2026, Republic Services pays a quarterly dividend of $0.67 per share, a recent increase from the prior $0.625, which translates to an annualized payout of roughly $2.68 per share and a dividend yield of approximately 1.2% to 1.3%. Dividends are paid quarterly, with recent ex-dividend dates falling near the start of January, April, July, and October and payments arriving about two weeks later. Given its below-average yield but reliable annual increases, Republic Services is best classified as a dividend growth stock rather than a high-yield or modest-growth income play.

Dividend History and Growth

Republic Services has built one of the more consistent dividend records in the industrial sector. The company began paying dividends in 2003 and has raised its payout every year since, a streak now spanning 23 consecutive years. Over the past five years, the dividend has grown at a compound annual rate of roughly 7% to 8%, with the ten-year growth rate in a similar range. The most recent increase raised the quarterly distribution from $0.625 to $0.67 per share, a roughly 7% boost. Management has historically paired dividend growth with share repurchases, and the steady annual cadence of increases reflects confidence in the resilience of the waste and environmental services business, which generates recurring, contract-based revenue streams that are relatively insulated from economic cycles.

Dividend Sustainability and Payout Ratio

The dividend appears well supported by Republic Services' earnings and cash generation. The company's payout ratio—the share of earnings distributed as dividends—sits near 35% to 38%, a conservative level that leaves meaningful room for future increases. Even more reassuring is the free cash flow payout ratio, which is approximately 30%, indicating that the dividend consumes only a fraction of the cash the business generates after capital expenditures. Republic Services operates in a largely essential-services industry with predictable revenue, which supports stable cash flows through economic cycles. While the company does carry debt to fund acquisitions and infrastructure, its disciplined payout ratios suggest the dividend is not reliant on leverage and can be maintained comfortably even if earnings soften.

Dividend Compared to Industry Peers

Within the waste management industry, Republic Services' dividend profile sits between its two closest publicly traded competitors. Waste Management (WM) offers a higher yield near 1.6% to 1.7% but with a higher payout ratio approaching 50% of earnings, reflecting a more mature capital-return stance. Waste Connections (WCN), by contrast, carries a lower yield of roughly 0.8% with a similarly conservative payout ratio in the low-30% range. Republic Services' yield of about 1.2% places it squarely in the middle of the group, slightly below the broader industry median. However, its 23-year dividend growth streak is the strongest indicator of consistency among its peers, positioning RSG as a balanced choice between yield and dependable long-term growth.

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Is This Stock Attractive for Dividend Investors?

Republic Services is best suited to long-term, dividend growth investors and conservative investors who prioritize consistency and capital preservation over immediate income. With a yield near 1.2%, it is unlikely to satisfy investors seeking high current income, who may prefer higher-yielding utilities or consumer staples. Instead, RSG appeals to those building a compounding portfolio, where a 23-year streak of annual increases and a roughly 8% dividend growth rate can meaningfully boost income on cost over time. The company's low payout ratios and defensive, essential-services business model also make it attractive to investors seeking stability through economic cycles. That said, investors should weigh the relatively modest starting yield and the company's valuation against their own objectives. As with any security, Republic Services' dividend is not guaranteed and can be adjusted or suspended at the board's discretion.

Disclaimer

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