This paper proposes a compact dual-band 3-way power divider that helps lowering the weight of a transceiver for the L-band or multi-purpose satellite communication. Instead of the multi stages or tapering which ends up with loss accumulation and size-growth, the non-linear dispersive phases from the metamaterial CRLH(composite right and left-handed) properties are obtained by the accurate formulation and implemented by the short transmission line segments. Firstly, the CRLH dual-band two-way unequal power divider and equal power divider are separately designed. And then, the input of the two-way equal power divider is plugged in the output port of the unequal one, and the entire geometry is slightly adjusted for the desirable performance. The circuit analysis and full-wave simulation are used to predict the frequency responses and validated by the measurement of the prototype. Besides, the size-reduction effect is addressed.