Republic Services, Inc. (NYSE:RSG) announced a quarterly dividend on Thursday, July 26th, RTT News reports. Shareholders of record on Monday, October 1st will be given a dividend of 0.375 per share by the business services provider on Monday, October 15th. This represents a $1.50 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Friday, September 28th. This is a boost from Republic Services’s previous quarterly dividend of $0.35.

Republic Services has increased its dividend payment by an average of 7.2% annually over the last three years and has raised its dividend every year for the last 8 years. Republic Services has a payout ratio of 49.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Republic Services to earn $3.25 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 46.2%.

NYSE:RSG opened at $72.71 on Thursday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.05. The stock has a market cap of $23.83 billion, a price-to-earnings ratio of 26.64, a price-to-earnings-growth ratio of 2.25 and a beta of 0.57. Republic Services has a 52 week low of $60.26 and a 52 week high of $75.82.

Republic Services (NYSE:RSG) last issued its quarterly earnings data on Thursday, July 26th. The business services provider reported $0.73 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.73. The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.53 billion. Republic Services had a return on equity of 11.65% and a net margin of 13.51%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 earnings per share. analysts predict that Republic Services will post 3.04 earnings per share for the current fiscal year.

In related news, CFO Charles F. Serianni sold 9,500 shares of Republic Services stock in a transaction dated Thursday, July 12th. The stock was sold at an average price of $70.00, for a total value of $665,000.00. Following the completion of the transaction, the chief financial officer now owns 46,143 shares in the company, valued at $3,230,010. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Donald W. Slager sold 225,734 shares of Republic Services stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $73.02, for a total value of $16,483,096.68. Following the completion of the transaction, the insider now owns 378,023 shares of the company’s stock, valued at approximately $27,603,239.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 326,568 shares of company stock valued at $23,819,132. 0.30% of the stock is currently owned by company insiders.

RSG has been the subject of a number of research analyst reports. Bank of America raised their price objective on Republic Services from $70.00 to $79.00 and gave the company a “buy” rating in a research report on Friday, August 17th. ValuEngine upgraded Republic Services from a “hold” rating to a “buy” rating in a research report on Thursday, August 2nd. Stifel Nicolaus raised their price objective on Republic Services from $73.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, September 10th. Zacks Investment Research upgraded Republic Services from a “sell” rating to a “hold” rating in a research report on Wednesday, May 30th. Finally, BMO Capital Markets raised their price objective on Republic Services from $75.00 to $79.00 and gave the company a “positive” rating in a research report on Thursday, August 16th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $75.00.

Republic Services Company Profile

Republic Services, Inc, together with its subsidiaries, provides non-hazardous solid waste collection, transfer, recycling, disposal, and energy services for small-container, large-container, municipal and residential, and energy services customers in the United States and Puerto Rico. The company's collection services include curbside collection of waste for transport to transfer stations; supply of waste containers; and renting of compactors.

Read More: Intrinsic Value and Stock Selection

Dividend History for Republic Services (NYSE:RSG)

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