v3.26.1
Share Repurchases, Dividends and Earnings per Share
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
SHARE REPURCHASES, DIVIDENDS AND EARNINGS PER SHARE SHARE REPURCHASES, DIVIDENDS AND EARNINGS PER SHARE
Available Shares
We currently have approximately 10 million shares of common stock reserved for future grants under the Republic Services, Inc. 2021 Stock Incentive Plan.
Share Repurchases
In October 2023, our Board of Directors approved a $3.0 billion share repurchase authorization effective January 1, 2024 and extending through December 31, 2026. Share repurchases under the program may be made through open market purchases or privately negotiated transactions in accordance with applicable federal securities laws. While the Board of Directors has approved the program, the timing of any purchases, the prices and the number of shares of common stock to be purchased will be determined by our management, at its discretion, and will depend upon market conditions and other factors. The share repurchase program may be extended, suspended or discontinued at any time. On a quarterly basis, our Board of Directors reviews the intrinsic value of our stock and the parameters around which we repurchase our shares.
Share repurchase activity during the three and six months ended June 30, 2026 and 2025 follows (in millions, except per share amounts):
Three Months Ended June 30,
Six Months Ended June 30,
2026202520262025
Number of shares repurchased1.7 — 3.1 0.3 
Amount paid
$359 $— $651 $55 
Weighted average cost per share$207.43 $— $212.14 $201.40 
As of June 30, 2026 and 2025, there were no repurchased shares pending settlement. As of June 30, 2026, the remaining authorized purchase capacity under our October 2023 repurchase program was $1.0 billion.
The average price paid per share, total repurchase costs and approximate maximum dollar value of the shares that may yet be purchased under the plans or programs exclude a 1% excise tax.
Dividends
In May 2026, our Board of Directors approved a quarterly dividend of $0.625 per share. Cash dividends declared were $383 million for the six months ended June 30, 2026. As of June 30, 2026, we recorded a quarterly dividend payable of $191 million to shareholders of record at the close of business on July 2, 2026.
Earnings per Share
Basic earnings per share is computed by dividing net income attributable to Republic Services, Inc. by the weighted average number of common shares (including vested but unissued restricted stock units and performance stock units) outstanding during the period. Diluted earnings per share is based on the combined weighted average number of common shares and common share equivalents outstanding, which include, where appropriate, the unvested restricted stock units (RSUs) and the unvested performance stock units (PSUs) at the expected attainment levels. We use the treasury stock method in computing diluted earnings per share.
Earnings per share for the three and six months ended June 30, 2026 and 2025 are calculated as follows (in thousands, except per share amounts):
Three Months Ended June 30,
Six Months Ended June 30,
2026202520262025
Basic earnings per share:
Net income attributable to Republic Services, Inc.$566,077 $549,905 $1,091,536 $1,044,902 
Weighted average common shares outstanding307,494 313,074 308,292 313,020 
Basic earnings per share$1.84 $1.76 $3.54 $3.34 
Diluted earnings per share:
Net income attributable to Republic Services, Inc.$566,077 $549,905 $1,091,536 $1,044,902 
Weighted average common shares outstanding307,494 313,074 308,292 313,020 
Effect of dilutive securities:
Unvested RSU awards26 103 35 106 
Unvested PSU awards
110 188 124 195 
Weighted average common and common equivalent shares outstanding
307,630 313,365 308,451 313,321 
Diluted earnings per share$1.84 $1.75 $3.54 $3.33