Dispersion analysis on silicon nanowire optical rectangular waveguide (SNORW) has been presented in this paper by guiding light inside low refractive index region. Dispersion engineering is an essential study to utilize any photonic integrated circuit-based waveguide in linear and nonlinear optical devices. This paper exhibits distinctive dispersion characteristics recognized in the wavelengths of S, C and L bands by tailoring physical parameters of SNORW. Modal investigation and numerical analysis have been carried out by finite element method (FEM), which shows that SNORW configuration enables the flat and low negative dispersion behavior. This paper also demonstrates the utilization of cladding materials and structural parameters of SNORW to tune the magnitude and behavior of dispersion for flat dispersion profile.