Republic Services (RSG) DIvidends Date & History

Key Takeaways

• Republic Services (RSG) offers a modest dividend yield of approximately 1.13%, with an annual dividend of $2.50 per share paid quarterly.
• The company has raised its dividend for 23 consecutive years, cementing its status as a reliable dividend growth stock.
• The payout ratio sits at a conservative ~35% of earnings and under 30% of free cash flow, leaving ample room for future increases.
• With a 5-year dividend compound annual growth rate (CAGR) of roughly 7.6%, RSG has delivered consistent mid-to-high single-digit dividend growth over the past decade.
• RSG operates in the defensive waste management industry, providing recession-resistant revenue streams that support long-term dividend reliability.
• The stock is best suited for dividend growth investors and long-term holders rather than those seeking high current income.

Dividend Overview

RSG, the stock ticker for Republic Services, Inc., represents the second-largest waste management and environmental services provider in the United States. The company pays a quarterly dividend of $0.625 per share, translating to an annualized dividend of $2.50 per share. Based on recent trading levels, the dividend yield stands at approximately 1.13% to 1.18%, placing RSG firmly in the category of a dividend growth stock rather than a high-yield investment. Republic Services has maintained a consistent quarterly payment schedule, with ex-dividend dates typically falling at the start of January, April, July, and October, and payments following roughly two weeks later. The most recent ex-dividend date was July 2, 2026, with a payment date of July 15, 2026. While the yield is not eye-catching, the dividend's durability and growth trajectory are what make RSG noteworthy among dividend investors.

Dividend History and Growth

Republic Services has been paying dividends since 2003 and has increased its payout every single year since initiation, marking a 23-year streak of consecutive annual dividend increases. Over the past five years, the dividend has grown at a compound annual growth rate (CAGR) of approximately 7.6% to 7.8%, while the 10-year CAGR stands around 7.6%. In practical terms, the quarterly dividend has risen from $0.405 per share in 2019 to $0.625 per share in 2026 — an increase of over 54% during that period. The company has not cut or suspended its dividend at any point during its 23-year history, including through the 2008–2009 financial crisis and the COVID-19 pandemic, underscoring the resilience of its business model. Republic Services typically announces dividend increases in July of each year, providing investors with a predictable annual cadence of hikes.

Dividend Sustainability and Payout Ratio

The sustainability of Republic Services' dividend is supported by a conservative payout structure. The company's earnings-based payout ratio stands at approximately 35% to 36% of trailing twelve-month earnings, meaning RSG retains nearly two-thirds of its profits for reinvestment, debt reduction, and strategic acquisitions. Even more compelling is the free cash flow payout ratio, which sits below 30% — indicating the dividend is comfortably covered by the actual cash the business generates. Looking forward, analyst estimates suggest the payout ratio could decline further toward 31% based on next year's earnings projections, assuming the dividend continues growing at historical rates. Republic Services carries a moderate debt load, with a debt-to-equity ratio around 1.04, which is typical for capital-intensive waste management companies. The combination of a low payout ratio, strong free cash flow generation, and predictable recurring revenue from long-term collection and disposal contracts provides a solid foundation for continued dividend growth.

Dividend Compared to Industry Peers

Within the waste management and environmental services industry, Republic Services' dividend profile is comparable to its closest peers. WM (Waste Management, Inc.), the largest player in the sector, offers a similar dividend yield in the range of 1.1% to 1.4% and also boasts a multi-decade track record of annual dividend increases. WCN (Waste Connections, Inc.), another major competitor, provides a yield closer to 0.7% to 0.8% but has likewise demonstrated consistent dividend growth over time. Across the broader business services and industrials sectors, RSG's yield of roughly 1.13% is modest compared to the industry median, but its dividend growth consistency and low payout ratio distinguish it. Investors evaluating waste management stocks will find that none of the major players are high-yield vehicles; instead, they are prized for steady, reliable dividend growth paired with defensive business characteristics. RSG's 23-year growth streak places it among the most consistent dividend payers in the industrial sector.

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Is This Stock Attractive for Dividend Investors?

Republic Services (RSG) is most attractive for dividend growth investors and long-term, total-return-oriented investors rather than those seeking high current income. With a yield of approximately 1.13%, the stock does not compete with high-yield alternatives such as utilities, REITs (Real Estate Investment Trusts), or energy master limited partnerships. However, the combination of a 23-year dividend growth streak, a low and sustainable payout ratio, and a mid-to-high single-digit annual dividend growth rate makes RSG a compelling candidate for investors focused on growing their income stream over time. The company's defensive business model — waste collection and disposal is essential regardless of economic conditions — adds an additional layer of appeal for conservative investors who prioritize capital preservation and steady compounding. For those willing to trade a lower starting yield for dependable and predictable dividend growth, Republic Services represents a high-quality holding in a diversified income portfolio.

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