Dividend Yield (TTM)
1.83%
vs 5Y avg 3.47% · 10Y avg 3.59%
Dividend Yield (Forward)
2.44%
4 payments/yr (spacing)
Dividends / Share (TTM)
$5.19
Forward (annualized): $6.92
Payout Ratio (EPS, TTM)
190.4%
Payout Ratio (FCF, TTM)
65.6%
Dividend CAGR (3Y / 5Y / 10Y)
3Y5.2%5Y6.8%10Y12.5%
Consecutive Growth Years
12
as of 2025
Years Without a Cut
12
as of 2025
Total Shareholder Yield (TTM)
3.07%
Div 2.72% + Net buyback 0.34%
Growth, streak and CAGR figures exclude special dividends.
Dividends per share
Cash dividends, split-adjusted · USD
Payout ratio
Dividends per share ÷ diluted EPS and ÷ free cash flow per share, by fiscal year.
Dividend yield
Trailing-twelve-month dividends ÷ month-end price.
Capital returns
Net buybacks = repurchases − stock issuance, fiscal-year cash flows. SBC shown for dilution context.
Total Shareholder Yield (TTM)
3.1%
Dividends 2.7% + Net buybacks 0.3%
Net Buyback (TTM)
$1.50B
Gross $1.50B − Issuance $0
SBC (TTM)
$976M
Share-based compensation, dilution driver
Net share-count change % / yr
Annual dividend growth
Dividend growth is steady (5.8% latest vs 6.1% 3-yr avg).
| Year | DPS (regular sum, USD) | Change | Hikes | |
|---|---|---|---|---|
| 2025 | 6.56 | +5.8% | 1 | |
| 2024 | 6.20 | +4.7% | 1 | |
| 2023 | 5.92 | +5.0% | 1 | |
| 2022 | 5.64 | +8.5% | 1 | |
| 2021 | 5.20 | +10.2% | 1 | |
| 2020 | 4.72 | +10.3% | 1 | |
| 2019 | 4.28 | +19.2% | 1 | |
| 2018 | 3.59 | +40.2% | 2 | |
| 2017 | 2.56 | +12.3% | 1 | |
| 2016 | 2.28 | +12.9% | 1 | |
| 2015 | 2.02 | +21.7% | 2 | |
| 2014 | 1.66 | +38.3% | 1 | |
| 2013 | 1.20 | — | 0 |
Special dividends are excluded from these figures. Based on 54 regular payments.
Payment history (54 payments)
| Δ% | Type | Frequency | Declaration | Record | Pay date | ||
|---|---|---|---|---|---|---|---|
| 2026-07-15 | $1.73 | 0.0% | Cash | quarterly | 2026-06-18 | 2026-07-15 | 2026-08-14 |
| 2026-04-15 | $1.73 | 0.0% | Cash | quarterly | 2026-02-19 | 2026-04-15 | 2026-05-15 |
| 2026-01-16 | $1.73 | +5.5% | Cash | quarterly | 2025-10-31 | 2026-01-16 | 2026-02-17 |
| 2025-10-15 | $1.64 | 0.0% | Cash | quarterly | 2025-09-05 | 2025-10-15 | 2025-11-14 |
| 2025-07-15 | $1.64 | 0.0% | Cash | quarterly | 2025-06-20 | 2025-07-15 | 2025-08-15 |
| 2025-04-15 | $1.64 | 0.0% | Cash | quarterly | 2025-02-13 | 2025-04-15 | 2025-05-15 |
| 2025-01-15 | $1.64 | +5.8% | Cash | quarterly | 2024-10-30 | 2025-01-15 | 2025-02-14 |
| 2024-10-15 | $1.55 | 0.0% | Cash | quarterly | 2024-09-06 | 2024-10-15 | 2024-11-15 |
| 2024-07-15 | $1.55 | 0.0% | Cash | quarterly | 2024-06-21 | 2024-07-15 | 2024-08-15 |
| 2024-04-12 | $1.55 | 0.0% | Cash | quarterly | 2024-02-15 | 2024-04-15 | 2024-05-15 |
| 2024-01-12 | $1.55 | +4.7% | Cash | quarterly | 2023-10-27 | 2024-01-16 | 2024-02-15 |
| 2023-10-12 | $1.48 | 0.0% | Cash | quarterly | 2023-09-08 | 2023-10-13 | 2023-11-15 |
| 2023-07-13 | $1.48 | 0.0% | Cash | quarterly | 2023-06-22 | 2023-07-14 | 2023-08-15 |
| 2023-04-13 | $1.48 | 0.0% | Cash | quarterly | 2023-02-16 | 2023-04-14 | 2023-05-15 |
| 2023-01-12 | $1.48 | +5.0% | Cash | quarterly | 2022-10-27 | 2023-01-13 | 2023-02-15 |
| 2022-10-13 | $1.41 | 0.0% | Cash | quarterly | 2022-09-09 | 2022-10-14 | 2022-11-15 |
| 2022-07-14 | $1.41 | 0.0% | Cash | quarterly | 2022-06-23 | 2022-07-15 | 2022-08-15 |
| 2022-04-13 | $1.41 | 0.0% | Cash | quarterly | 2022-02-17 | 2022-04-15 | 2022-05-16 |
| 2022-01-13 | $1.41 | +8.5% | Cash | quarterly | 2021-10-29 | 2022-01-14 | 2022-02-15 |
| 2021-10-14 | $1.3 | 0.0% | Cash | quarterly | 2021-09-10 | 2021-10-15 | 2021-11-15 |
| 2021-07-14 | $1.3 | 0.0% | Cash | quarterly | 2021-06-18 | 2021-07-15 | 2021-08-16 |
| 2021-04-14 | $1.3 | 0.0% | Cash | quarterly | 2021-02-18 | 2021-04-15 | 2021-05-14 |
| 2021-01-14 | $1.3 | +10.2% | Cash | quarterly | 2020-10-30 | 2021-01-15 | 2021-02-16 |
| 2020-10-14 | $1.18 | 0.0% | Cash | quarterly | 2020-09-11 | 2020-10-15 | 2020-11-16 |
| 2020-07-14 | $1.18 | 0.0% | Cash | quarterly | 2020-06-17 | 2020-07-15 | 2020-08-14 |
| 2020-04-14 | $1.18 | 0.0% | Cash | quarterly | 2020-02-20 | 2020-04-15 | 2020-05-15 |
| 2020-01-14 | $1.18 | +10.3% | Cash | quarterly | 2019-11-01 | 2020-01-15 | 2020-02-14 |
| 2019-10-11 | $1.07 | 0.0% | Cash | quarterly | 2019-09-10 | 2019-10-15 | 2019-11-15 |
| 2019-07-12 | $1.07 | 0.0% | Cash | quarterly | 2019-06-20 | 2019-07-15 | 2019-08-15 |
| 2019-04-12 | $1.07 | 0.0% | Cash | quarterly | 2019-02-21 | 2019-04-15 | 2019-05-15 |
| 2019-01-14 | $1.07 | +11.5% | Cash | quarterly | 2018-11-02 | 2019-01-15 | 2019-02-15 |
| 2018-10-12 | $0.96 | 0.0% | Cash | quarterly | 2018-09-07 | 2018-10-15 | 2018-11-15 |
| 2018-07-12 | $0.96 | 0.0% | Cash | quarterly | 2018-06-15 | 2018-07-13 | 2018-08-15 |
| 2018-04-12 | $0.96 | +35.2% | Cash | quarterly | 2018-02-15 | 2018-04-13 | 2018-05-15 |
| 2018-01-11 | $0.71 | +10.9% | Cash | quarterly | 2017-10-27 | 2018-01-12 | 2018-02-15 |
| 2017-10-12 | $0.64 | 0.0% | Cash | quarterly | 2017-09-08 | 2017-10-13 | 2017-11-15 |
| 2017-07-12 | $0.64 | 0.0% | Cash | quarterly | 2017-06-27 | 2017-07-14 | 2017-08-15 |
| 2017-04-11 | $0.64 | 0.0% | Cash | quarterly | 2017-02-16 | 2017-04-13 | 2017-05-15 |
| 2017-01-11 | $0.64 | +12.3% | Cash | quarterly | 2016-10-28 | 2017-01-13 | 2017-02-15 |
| 2016-10-12 | $0.57 | 0.0% | Cash | quarterly | 2016-09-09 | 2016-10-14 | 2016-11-15 |
| 2016-07-13 | $0.57 | 0.0% | Cash | quarterly | 2016-06-16 | 2016-07-15 | 2016-08-15 |
| 2016-04-13 | $0.57 | 0.0% | Cash | quarterly | 2016-02-18 | 2016-04-15 | 2016-05-16 |
| 2016-01-13 | $0.57 | +11.8% | Cash | quarterly | 2015-10-30 | 2016-01-15 | 2016-02-16 |
| 2015-10-13 | $0.51 | 0.0% | Cash | quarterly | 2015-09-11 | 2015-10-15 | 2015-11-14 |
| 2015-07-13 | $0.51 | 0.0% | Cash | quarterly | 2015-06-18 | 2015-07-15 | 2015-08-14 |
| 2015-04-13 | $0.51 | +4.1% | Cash | quarterly | 2015-02-19 | 2015-04-15 | 2015-05-15 |
| 2015-01-13 | $0.49 | +16.7% | Cash | quarterly | 2014-10-20 | 2015-01-15 | 2015-02-13 |
| 2014-10-10 | $0.42 | 0.0% | Cash | quarterly | 2014-09-19 | 2014-10-15 | 2014-11-17 |
| 2014-07-11 | $0.42 | 0.0% | Cash | quarterly | 2014-06-19 | 2014-07-15 | 2014-08-15 |
| 2014-04-11 | $0.42 | +5.0% | Cash | quarterly | 2014-02-20 | 2014-04-15 | 2014-05-15 |
| 2014-01-13 | $0.4 | 0.0% | Cash | quarterly | 2013-12-12 | 2014-01-15 | 2014-02-14 |
| 2013-10-10 | $0.4 | 0.0% | Cash | quarterly | 2013-09-19 | 2013-10-15 | 2013-11-15 |
| 2013-07-11 | $0.4 | 0.0% | Cash | quarterly | 2013-06-20 | 2013-07-15 | 2013-08-15 |
| 2013-04-11 | $0.4 | – | Cash | quarterly | 2013-02-15 | 2013-04-15 | 2013-05-15 |
No splits on record.