What is the relationship between Environmental, Social, and Governance (ESG) risk ratings and payouts to shareholders? Prior research finds a positive relationship between ESG performance and shareholder payouts in the form of either cash dividends or share repurchases. Using a different measure of ESG performance, Morningstar Sustainalytics ESG risk rating and its components, I examine the relationship between ESG risk ratings and shareholder payouts for Dow 30 firms in 2023. Although the results fail to support the hypothesized negative relationship between environmental risk or social risk rating and payouts, ESG risk rating is significantly positively related to total payouts. In addition, univariate regression results indicate that Governance risk is significantly positively related to both share repurchases and total payouts.