Republic Services

Republic Services is one of the largest waste collection, recycling and disposal companies in the United States, operating landfills, transfer stations and a large fleet of collection trucks. The essential, recurring nature of waste services, combined with long-term municipal and commercial contracts, gives it highly predictable revenue and pricing power that tends to keep pace with inflation. Republic has raised its dividend consistently for more than two decades, funded by steady free cash flow from a business that customers cannot easily do without. The yield is modest, reflecting a company that also invests in fleet, acquisitions and sustainability projects, but the reliability of the payout and its steady growth support a strong, defensive income profile.