Dividend Yield (TTM)
1.85%
vs 5Y avg 1.36% · 10Y avg 1.10%
Dividend Yield (Forward)
2.58%
4 payments/yr (spacing)
Dividends / Share (TTM)
$5.72
Forward (annualized): $7.96
Payout Ratio (EPS, TTM)
42.3%
Payout Ratio (FCF, TTM)
38.7%
Dividend CAGR (3Y / 5Y / 10Y)
3Y16.5%5Y17.4%10Y18.8%
Consecutive Growth Years
13
as of 2025
Years Without a Cut
13
as of 2025
Total Shareholder Yield (TTM)
5.53%
Div 2.14% + Net buyback 3.40%
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)
5.5%
Dividends 2.1% + Net buybacks 3.4%
Net Buyback (TTM)
$389M
Gross $389M − Issuance $0
SBC (TTM)
$44M
Share-based compensation, dilution driver
Net share-count change % / yr
Annual dividend growth
Dividend growth is decelerating (15.2% latest vs 17.3% 3-yr avg).
| Year | DPS (regular sum, USD) | Change | Hikes | |
|---|---|---|---|---|
| 2025 | 6.96 | +15.2% | 1 | |
| 2024 | 6.04 | +24.8% | 1 | |
| 2023 | 4.84 | +10.0% | 1 | |
| 2022 | 4.40 | +17.0% | 1 | |
| 2021 | 3.76 | +20.5% | 1 | |
| 2020 | 3.12 | +20.0% | 1 | |
| 2019 | 2.60 | +18.2% | 1 | |
| 2018 | 2.20 | +19.6% | 1 | |
| 2017 | 1.84 | +21.1% | 1 | |
| 2016 | 1.52 | +22.6% | 1 | |
| 2015 | 1.24 | +24.0% | 1 | |
| 2014 | 1.00 | +25.0% | 1 | |
| 2013 | 0.80 | — | 1 | |
| 2012 | 0.00 | — | 0 | |
| 2007 | 0.00 | -100.0% | 0 |
Special dividends are excluded from these figures. Based on 63 regular payments.
Payment history (65 payments · 2 special)
| Δ% | Type | Frequency | Declaration | Record | Pay date | ||
|---|---|---|---|---|---|---|---|
| 2026-06-15 | $1.99 | 0.0% | Cash | quarterly | 2026-04-21 | 2026-06-15 | 2026-06-30 |
| 2026-03-13 | $1.99 | +14.4% | Cash | quarterly | 2026-02-23 | 2026-03-13 | 2026-03-30 |
| 2025-12-15 | $1.74 | 0.0% | Cash | quarterly | 2025-10-14 | 2025-12-15 | 2025-12-26 |
| 2025-09-15 | $1.74 | 0.0% | Cash | quarterly | 2025-07-21 | 2025-09-15 | 2025-09-30 |
| 2025-06-13 | $1.74 | 0.0% | Cash | quarterly | 2025-04-28 | 2025-06-13 | 2025-06-30 |
| 2025-03-14 | $1.74 | +15.2% | Cash | quarterly | 2025-02-24 | 2025-03-14 | 2025-03-28 |
| 2024-12-13 | $1.51 | 0.0% | Cash | quarterly | 2024-10-10 | 2024-12-13 | 2024-12-27 |
| 2024-09-13 | $1.51 | 0.0% | Cash | quarterly | 2024-07-18 | 2024-09-13 | 2024-09-30 |
| 2024-06-14 | $1.51 | 0.0% | Cash | quarterly | 2024-04-25 | 2024-06-14 | 2024-06-28 |
| 2024-03-14 | $1.51 | +24.8% | Cash | quarterly | 2024-02-26 | 2024-03-15 | 2024-03-29 |
| 2023-12-14 | $1.21 | 0.0% | Cash | quarterly | 2023-10-10 | 2023-12-15 | 2023-12-29 |
| 2023-09-14 | $1.21 | 0.0% | Cash | quarterly | 2023-07-20 | 2023-09-15 | 2023-09-29 |
| 2023-06-14 | $1.21 | 0.0% | Cash | quarterly | 2023-04-27 | 2023-06-15 | 2023-06-30 |
| 2023-03-14 | $1.21 | +10.0% | Cash | quarterly | 2023-02-21 | 2023-03-15 | 2023-03-30 |
| 2022-12-14 | $1.1 | 0.0% | Cash | quarterly | 2022-10-13 | 2022-12-15 | 2022-12-30 |
| 2022-09-14 | $1.1 | 0.0% | Cash | quarterly | 2022-07-19 | 2022-09-15 | 2022-09-30 |
| 2022-06-14 | $1.1 | 0.0% | Cash | quarterly | 2022-04-28 | 2022-06-15 | 2022-06-30 |
| 2022-03-14 | $1.1 | +17.0% | Cash | quarterly | 2022-02-24 | 2022-03-15 | 2022-03-30 |
| 2021-12-14 | $0.94 | 0.0% | Cash | quarterly | 2021-10-12 | 2021-12-15 | 2021-12-30 |
| 2021-09-14 | $0.94 | 0.0% | Cash | quarterly | 2021-07-22 | 2021-09-15 | 2021-09-30 |
| 2021-06-14 | $0.94 | 0.0% | Cash | quarterly | 2021-04-27 | 2021-06-15 | 2021-06-30 |
| 2021-03-12 | $0.94 | +20.5% | Cash | quarterly | 2021-02-24 | 2021-03-15 | 2021-03-30 |
| 2020-12-14 | $0.78 | 0.0% | Cash | quarterly | 2020-10-07 | 2020-12-15 | 2020-12-30 |
| 2020-09-14 | $0.78 | 0.0% | Cash | quarterly | 2020-07-16 | 2020-09-15 | 2020-09-30 |
| 2020-06-12 | $0.78 | 0.0% | Cash | quarterly | 2020-04-23 | 2020-06-15 | 2020-06-30 |
| 2020-03-12 | $0.78 | +20.0% | Cash | quarterly | 2020-02-19 | 2020-03-13 | 2020-03-30 |
| 2019-12-12 | $0.65 | 0.0% | Cash | quarterly | 2019-10-08 | 2019-12-13 | 2019-12-27 |
| 2019-09-12 | $0.65 | 0.0% | Cash | quarterly | 2019-07-16 | 2019-09-13 | 2019-09-30 |
| 2019-06-13 | $0.65 | 0.0% | Cash | quarterly | 2019-04-23 | 2019-06-14 | 2019-06-28 |
| 2019-03-14 | $0.65 | +18.2% | Cash | quarterly | 2019-02-21 | 2019-03-15 | 2019-03-29 |
| 2018-12-13 | $0.55 | 0.0% | Cash | quarterly | 2018-10-11 | 2018-12-14 | 2018-12-28 |
| 2018-09-13 | $0.55 | 0.0% | Cash | quarterly | 2018-07-19 | 2018-09-14 | 2018-09-28 |
| 2018-06-14 | $0.55 | 0.0% | Cash | quarterly | 2018-04-26 | 2018-06-15 | 2018-06-29 |
| 2018-03-14 | $0.55 | +19.6% | Cash | quarterly | 2018-02-20 | 2018-03-15 | 2018-03-30 |
| 2017-12-14 | $0.46 | 0.0% | Cash | quarterly | 2017-10-12 | 2017-12-15 | 2017-12-29 |
| 2017-09-14 | $0.46 | 0.0% | Cash | quarterly | 2017-09-12 | 2017-09-15 | 2017-09-29 |
| 2017-06-13 | $0.46 | 0.0% | Cash | quarterly | 2017-04-27 | 2017-06-15 | 2017-06-30 |
| 2017-03-13 | $0.46 | +21.1% | Cash | quarterly | 2017-02-15 | 2017-03-15 | 2017-03-30 |
| 2016-12-13 | $0.38 | 0.0% | Cash | quarterly | 2016-10-18 | 2016-12-15 | 2016-12-30 |
| 2016-09-13 | $0.38 | 0.0% | Cash | quarterly | 2016-07-21 | 2016-09-15 | 2016-09-30 |
| 2016-06-13 | $0.38 | 0.0% | Cash | quarterly | 2016-04-28 | 2016-06-15 | 2016-06-30 |
| 2016-03-11 | $0.38 | +22.6% | Cash | quarterly | 2016-02-24 | 2016-03-15 | 2016-03-30 |
| 2015-12-11 | $0.31 | 0.0% | Cash | quarterly | 2015-10-08 | 2015-12-15 | 2015-12-30 |
| 2015-09-11 | $0.31 | 0.0% | Cash | quarterly | 2015-07-16 | 2015-09-15 | 2015-09-30 |
| 2015-06-11 | $0.31 | 0.0% | Cash | quarterly | 2015-04-21 | 2015-06-15 | 2015-06-30 |
| 2015-03-11 | $0.31 | +24.0% | Cash | quarterly | 2015-02-11 | 2015-03-13 | 2015-03-30 |
| 2014-12-11 | $0.25 | 0.0% | Cash | quarterly | 2014-10-14 | 2014-12-15 | 2014-12-30 |
| 2014-09-11 | $0.25 | 0.0% | Cash | quarterly | 2014-07-16 | 2014-09-15 | 2014-09-30 |
| 2014-06-11 | $0.25 | 0.0% | Cash | quarterly | 2014-05-01 | 2014-06-13 | 2014-06-30 |
| 2014-03-12 | $0.25 | +25.0% | Cash | quarterly | 2014-02-12 | 2014-03-14 | 2014-03-28 |
| 2013-12-11 | $0.2 | 0.0% | Cash | quarterly | 2013-10-09 | 2013-12-13 | 2013-12-30 |
| 2013-09-11 | $0.2 | 0.0% | Cash | quarterly | 2013-07-23 | 2013-09-13 | 2013-09-30 |
| 2013-06-12 | $0.2 | 0.0% | Cash | quarterly | 2013-04-30 | 2013-06-14 | 2013-06-28 |
| 2013-03-13 | $0.2 | +66.7% | Cash | quarterly | 2013-02-27 | 2013-03-15 | 2013-03-29 |
| 2012-03-22 | $3 | – | Special (cash) | — | 2012-03-19 | 2012-03-26 | 2012-04-02 |
| 2007-05-07 | $13.5 | – | Special (cash) | — | 2007-04-18 | 2007-04-27 | 2007-05-04 |
| 2006-12-13 | $0.12 | 0.0% | Cash | quarterly | 2006-10-19 | 2006-12-15 | 2006-12-30 |
| 2006-09-13 | $0.12 | 0.0% | Cash | quarterly | 2006-07-28 | 2006-09-15 | 2006-09-30 |
| 2006-06-13 | $0.12 | 0.0% | Cash | quarterly | 2006-06-01 | 2006-06-15 | 2006-06-30 |
| 2006-03-13 | $0.12 | +20.0% | Cash | quarterly | 2006-02-21 | 2006-03-15 | 2006-03-30 |
| 2005-12-13 | $0.1 | 0.0% | Cash | quarterly | 2005-10-25 | 2005-12-15 | 2005-12-30 |
| 2005-09-13 | $0.1 | 0.0% | Cash | quarterly | 2005-08-03 | 2005-09-15 | 2005-09-30 |
| 2005-06-13 | $0.1 | 0.0% | Cash | quarterly | 2005-05-13 | 2005-06-15 | 2005-06-30 |
| 2005-03-11 | $0.1 | +53.8% | Cash | quarterly | 2005-01-28 | 2005-03-15 | 2005-03-30 |
| 2004-11-29 | $0.065 | – | Cash | quarterly | 2004-10-19 | 2004-12-01 | 2004-12-15 |
No splits on record.