We're currently smack bang in the middle of earnings season on the ASX. Or as I like to call it, dividend season. Whenever a dividend-paying share (which is most shares on the ASX) announces its latest earnings, it also tends to reveal the value of its latest dividend payment. This dynamic makes earnings season an exciting time for dividend investors. Today, we heard from one ASX 200 stock that has revealed a major dividend hike.
That ASX 200 stock is Cleanaway Waste Management Ltd (ASX: CWY).
Cleanaway is, as its name implies, one of the ASX's largest waste management stocks. It provides an extensive network of waste management services across Australia.
As we covered this morning, this ASX 200 stock reported some pretty impressive numbers for the six months ending 31 December 2025.
Cleanaway revealed that it enjoyed revenues of $1.88 billion over the period, which was a 13% rise over the same period in 2024. Underlying earnings were up 16.9% to $228.2 million, while underlying net profit after tax surged 17.8% to $109.7 million.
Clearly, investors were impressed, seeing as the Cleanaway stock price is currently up a robust 7.92% at $2.59.
But it's the new Cleanaway dividend that might be the most impressive metric in this earnings report.
Image source: Getty Images
This ASX 200 stock just hiked its dividend by 20%
Cleanaway has just revealed that its interim dividend for 2026 will be worth 3.35 cents per share. This is a significant payout for a few reasons. Firstly, it represents a happy 19.6% rise over 2025's interim dividend, which was worth 2.8 cents per share. It's also an increase over last year's final dividend of 3.2 cents per share.
This dividend is also the largest Cleanaway has paid out in almost two decades. Considering the company was a very different beast back in 2008 (the last time Cleanaway paid out a dividend larger than the one announced today), we could arguably say this is the ASX 200 stock's largest-ever dividend.
Cleanaway's latest payout will be fully franked. It represents a payout ratio of 68.4% of Cleanaway's underlying profits.
Cleanaway shares will trade ex-dividend on 11 March for this payment. The dividend will then land in eligible shareholders' bank accounts on 16 April.
Today, Cleanaway shares are trading at a trailing dividend yield of 2.32% (at the time of writing). However, this new dividend means we can now give this ASX 200 stock a forward dividend yield of 2.53%.
