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Share Repurchases and Dividends
 12 Months Ended
Dec. 31, 2023
Stockholders' Equity Note [Abstract]  
Share Repurchases and Dividends SHARE REPURCHASES AND DIVIDENDS
Available Shares
We currently have approximately 11.7 million shares of common stock reserved for future grants under the Republic Services, Inc. 2021 Stock Incentive Plan.
Share Repurchases
In October 2020, our Board of Directors approved a $2.0 billion share repurchase authorization effective starting January 1, 2021 and extending through December 31, 2023. In October 2023, our Board of Directors approved a $3.0 billion share repurchase authorization effective starting 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 years ended December 31, 2023, 2022 and 2021 follows (in millions except per share amounts):
202320222021
Number of shares repurchased1.8 1.6 2.2 
Amount paid$261.8 $203.5 $252.2 
Weighted average cost per share$145.72 $124.02 $116.09 
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.
As of December 31, 2023, 2022 and 2021 there were no repurchased shares pending settlement. As of December 31, 2023, the remaining authorized purchase capacity under our October 2023 repurchase program was $3.0 billion.
Dividends
In October 2023, our Board of Directors approved a quarterly dividend of $0.535 per share. Aggregate cash dividends declared were $650.0 million, $603.4 million and $563.0 million for the years ended December 31, 2023, 2022 and 2021, respectively. As of December 31, 2023, we recorded a quarterly dividend payable of $168.3 million to shareholders of record at the close of business on January 2, 2024.