Republic Services, Inc. (RSG) Plans Quarterly Dividend of $0.35
Republic Services, Inc. (NYSE:RSG) declared a quarterly dividend on Thursday, November 2nd, RTT News reports. Investors of record on Tuesday, January 2nd will be paid a dividend of 0.345 per share by the business services provider on Tuesday, January 16th. This represents a $1.38 dividend on an annualized basis and a yield of 2.12%.
Republic Services has raised its dividend by an average of 8.1% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. Republic Services has a dividend payout ratio of 58.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Republic Services to earn $2.61 per share next year, which means the company should continue to be able to cover its $1.38 annual dividend with an expected future payout ratio of 52.9%.
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A number of research firms recently issued reports on RSG. Bank of America Corporation decreased their price target on shares of Republic Services from $72.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, October 5th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Republic Services in a research note on Friday, August 25th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Republic Services in a research note on Thursday, September 7th. Credit Suisse Group AG set a $69.00 price target on shares of Republic Services and gave the company a “hold” rating in a research note on Saturday, July 29th. Finally, Stifel Nicolaus downgraded shares of Republic Services from a “buy” rating to a “hold” rating and decreased their price target for the company from $76.00 to $70.00 in a research note on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $68.29.
In other news, EVP Catharine D. Ellingsen sold 14,250 shares of the stock in a transaction on Friday, September 29th. The shares were sold at an average price of $66.02, for a total value of $940,785.00. Following the sale, the executive vice president now owns 8,007 shares of the company’s stock, valued at $528,622.14. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jeffrey A. Hughes sold 6,329 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $66.50, for a total transaction of $420,878.50. Following the completion of the sale, the executive vice president now directly owns 428 shares in the company, valued at approximately $28,462. The disclosure for this sale can be found here. In the last three months, insiders sold 43,187 shares of company stock worth $2,854,922. Insiders own 0.40% of the company’s stock.
Republic Services Company Profile
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.
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