Dividend Yield (TTM)
2.35%
vs 5Y avg 2.56% · 10Y avg 2.27%
Dividend Yield (Forward)
3.13%
4 payments/yr (spacing)
Dividends / Share (TTM)
$1.50
Forward (annualized): $2.00
Payout Ratio (EPS, TTM)
104.2%
Payout Ratio (FCF, TTM)
94.3%
Dividend CAGR (3Y / 5Y / 10Y)
3Y9.7%5Y10.1%10Y11.7%
Consecutive Growth Years
12
as of 2025
Years Without a Cut
12
as of 2025
Total Shareholder Yield (TTM)
4.33%
Div 3.16% + Net buyback 1.17%
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)
4.3%
Dividends 3.2% + Net buybacks 1.2%
Net Buyback (TTM)
$944M
Gross $944M − Issuance $0
SBC (TTM)
$136M
Share-based compensation, dilution driver
Net share-count change % / yr
Annual dividend growth
Dividend growth is decelerating (8.4% latest vs 10.4% 3-yr avg).
| Year | DPS (regular sum, USD) | Change | Hikes | |
|---|---|---|---|---|
| 2025 | 1.94 | +8.4% | 1 | |
| 2024 | 1.79 | +10.5% | 1 | |
| 2023 | 1.62 | +10.2% | 1 | |
| 2022 | 1.47 | +10.5% | 1 | |
| 2021 | 1.33 | +10.8% | 1 | |
| 2020 | 1.20 | +10.1% | 1 | |
| 2019 | 1.09 | +13.5% | 1 | |
| 2018 | 0.96 | +17.1% | 1 | |
| 2017 | 0.82 | +13.9% | 1 | |
| 2016 | 0.72 | +12.5% | 1 | |
| 2015 | 0.64 | +10.3% | 1 | |
| 2014 | 0.58 | +7.4% | 1 | |
| 2013 | 0.54 | -46.0% | 1 | |
| 2012 | 1.00 | -13.8% | 0 | |
| 2011 | 1.16 | 0.0% | 0 |
Special dividends are excluded from these figures. Based on 100 regular payments.
Payment history (100 payments)
| Δ% | Type | Frequency | Declaration | Record | Pay date | ||
|---|---|---|---|---|---|---|---|
| 2026-06-30 | $0.5 | 0.0% | Cash | quarterly | 2026-05-20 | 2026-06-30 | 2026-07-14 |
| 2026-03-31 | $0.5 | 0.0% | Cash | quarterly | 2026-02-12 | 2026-03-31 | 2026-04-14 |
| 2025-12-31 | $0.5 | 0.0% | Cash | quarterly | 2025-12-11 | 2025-12-31 | 2026-01-14 |
| 2025-09-30 | $0.5 | +6.4% | Cash | quarterly | 2025-07-29 | 2025-09-30 | 2025-10-14 |
| 2025-06-30 | $0.47 | 0.0% | Cash | quarterly | 2025-05-21 | 2025-06-30 | 2025-07-14 |
| 2025-03-31 | $0.47 | 0.0% | Cash | quarterly | 2025-02-13 | 2025-03-31 | 2025-04-14 |
| 2024-12-31 | $0.47 | 0.0% | Cash | quarterly | 2024-12-11 | 2024-12-31 | 2025-01-14 |
| 2024-09-30 | $0.47 | +10.6% | Cash | quarterly | 2024-07-30 | 2024-09-30 | 2024-10-14 |
| 2024-06-28 | $0.425 | 0.0% | Cash | quarterly | 2024-05-22 | 2024-06-28 | 2024-07-12 |
| 2024-03-27 | $0.425 | 0.0% | Cash | quarterly | 2024-02-02 | 2024-03-28 | 2024-04-11 |
| 2023-12-28 | $0.425 | 0.0% | Cash | quarterly | 2023-12-08 | 2023-12-29 | 2024-01-12 |
| 2023-09-28 | $0.425 | +10.4% | Cash | quarterly | 2023-07-27 | 2023-09-29 | 2023-10-13 |
| 2023-06-29 | $0.385 | 0.0% | Cash | quarterly | 2023-05-17 | 2023-06-30 | 2023-07-14 |
| 2023-03-30 | $0.385 | 0.0% | Cash | quarterly | 2023-02-01 | 2023-03-31 | 2023-04-14 |
| 2022-12-29 | $0.385 | 0.0% | Cash | quarterly | 2022-12-09 | 2022-12-30 | 2023-01-13 |
| 2022-09-29 | $0.385 | +10.0% | Cash | quarterly | 2022-07-26 | 2022-09-30 | 2022-10-14 |
| 2022-06-29 | $0.35 | 0.0% | Cash | quarterly | 2022-05-18 | 2022-06-30 | 2022-07-14 |
| 2022-03-30 | $0.35 | 0.0% | Cash | quarterly | 2022-02-03 | 2022-03-31 | 2022-04-14 |
| 2021-12-30 | $0.35 | 0.0% | Cash | quarterly | 2021-12-10 | 2021-12-31 | 2022-01-14 |
| 2021-09-29 | $0.35 | +11.1% | Cash | quarterly | 2021-07-28 | 2021-09-30 | 2021-10-14 |
| 2021-06-29 | $0.315 | 0.0% | Cash | quarterly | 2021-05-19 | 2021-06-30 | 2021-07-14 |
| 2021-03-30 | $0.315 | 0.0% | Cash | quarterly | 2021-02-04 | 2021-03-31 | 2021-04-14 |
| 2020-12-30 | $0.315 | 0.0% | Cash | quarterly | 2020-12-02 | 2020-12-31 | 2021-01-14 |
| 2020-09-29 | $0.315 | +10.5% | Cash | quarterly | 2020-07-28 | 2020-09-30 | 2020-10-14 |
| 2020-06-29 | $0.285 | 0.0% | Cash | quarterly | 2020-05-13 | 2020-06-30 | 2020-07-14 |
| 2020-03-30 | $0.285 | 0.0% | Cash | quarterly | 2020-02-06 | 2020-03-31 | 2020-04-14 |
| 2019-12-30 | $0.285 | 0.0% | Cash | quarterly | 2019-12-05 | 2019-12-31 | 2020-01-14 |
| 2019-09-27 | $0.285 | +9.6% | Cash | quarterly | 2019-07-30 | 2019-09-30 | 2019-10-14 |
| 2019-06-27 | $0.26 | 0.0% | Cash | quarterly | 2019-05-15 | 2019-06-28 | 2019-07-12 |
| 2019-03-28 | $0.26 | 0.0% | Cash | quarterly | 2019-02-07 | 2019-03-29 | 2019-04-12 |
| 2018-12-28 | $0.26 | 0.0% | Cash | quarterly | 2018-12-06 | 2018-12-31 | 2019-01-14 |
| 2018-09-27 | $0.26 | +18.2% | Cash | quarterly | 2018-07-25 | 2018-09-28 | 2018-10-12 |
| 2018-06-28 | $0.22 | 0.0% | Cash | quarterly | 2018-05-16 | 2018-06-29 | 2018-07-13 |
| 2018-03-28 | $0.22 | 0.0% | Cash | quarterly | 2018-02-08 | 2018-03-29 | 2018-04-12 |
| 2017-12-28 | $0.22 | 0.0% | Cash | quarterly | 2017-12-12 | 2017-12-29 | 2018-01-11 |
| 2017-09-28 | $0.22 | +15.8% | Cash | quarterly | 2017-08-02 | 2017-09-29 | 2017-10-12 |
| 2017-06-28 | $0.19 | 0.0% | Cash | quarterly | 2017-05-17 | 2017-06-30 | 2017-07-13 |
| 2017-03-29 | $0.19 | 0.0% | Cash | quarterly | 2017-02-03 | 2017-03-31 | 2017-04-13 |
| 2016-12-28 | $0.19 | 0.0% | Cash | quarterly | 2016-12-14 | 2016-12-30 | 2017-01-12 |
| 2016-09-28 | $0.19 | +11.8% | Cash | quarterly | 2016-07-19 | 2016-09-30 | 2016-10-13 |
| 2016-06-28 | $0.17 | 0.0% | Cash | quarterly | 2016-05-18 | 2016-06-30 | 2016-07-14 |
| 2016-03-29 | $0.17 | 0.0% | Cash | quarterly | 2016-02-08 | 2016-03-31 | 2016-04-14 |
| 2015-12-29 | $0.17 | 0.0% | Cash | quarterly | 2015-12-08 | 2015-12-31 | 2016-01-14 |
| 2015-09-28 | $0.17 | +13.3% | Cash | quarterly | 2015-07-23 | 2015-09-30 | 2015-10-14 |
| 2015-06-26 | $0.15 | 0.0% | Cash | quarterly | 2015-05-20 | 2015-06-30 | 2015-07-13 |
| 2015-03-27 | $0.15 | 0.0% | Cash | quarterly | 2015-02-19 | 2015-03-31 | 2015-04-13 |
| 2014-12-29 | $0.15 | 0.0% | Cash | quarterly | 2014-12-04 | 2014-12-31 | 2015-01-15 |
| 2014-09-26 | $0.15 | +7.1% | Cash | quarterly | 2014-08-06 | 2014-09-30 | 2014-10-14 |
| 2014-06-26 | $0.14 | 0.0% | Cash | quarterly | 2014-05-21 | 2014-06-30 | 2014-07-14 |
| 2014-03-27 | $0.14 | 0.0% | Cash | quarterly | 2014-02-26 | 2014-03-31 | 2014-04-14 |
| 2013-12-27 | $0.14 | 0.0% | Cash | quarterly | 2013-12-10 | 2013-12-31 | 2014-01-14 |
| 2013-09-26 | $0.14 | +7.7% | Cash | quarterly | 2013-08-07 | 2013-09-30 | 2013-10-15 |
| 2013-06-27 | $0.13 | 0.0% | Cash | quarterly | 2013-05-21 | 2013-07-01 | 2013-07-15 |
| 2013-03-27 | $0.13 | 0.0% | Cash | quarterly | 2013-03-14 | 2013-04-01 | 2013-04-15 |
| 2012-12-27 | $0.13 | -55.2% | Cash | quarterly | 2012-12-11 | 2012-12-31 | 2013-01-14 |
| 2012-09-17 | $0.29 | 0.0% | Cash | quarterly | 2012-08-15 | 2012-09-19 | 2012-10-15 |
| 2012-06-27 | $0.29 | 0.0% | Cash | quarterly | 2012-05-24 | 2012-06-29 | 2012-07-16 |
| 2012-03-28 | $0.29 | 0.0% | Cash | quarterly | 2012-03-15 | 2012-03-30 | 2012-04-16 |
| 2011-12-28 | $0.29 | 0.0% | Cash | quarterly | 2011-12-14 | 2011-12-30 | 2012-01-13 |
| 2011-09-28 | $0.29 | 0.0% | Cash | quarterly | 2011-08-18 | 2011-09-30 | 2011-10-14 |
| 2011-06-28 | $0.29 | 0.0% | Cash | quarterly | 2011-05-25 | 2011-06-30 | 2011-07-14 |
| 2011-03-29 | $0.29 | 0.0% | Cash | quarterly | 2011-02-26 | 2011-03-31 | 2011-04-14 |
| 2010-12-29 | $0.29 | 0.0% | Cash | quarterly | 2010-12-21 | 2010-12-31 | 2011-01-14 |
| 2010-09-28 | $0.29 | 0.0% | Cash | quarterly | 2010-08-18 | 2010-09-30 | 2010-10-14 |
| 2010-06-28 | $0.29 | 0.0% | Cash | quarterly | 2010-05-19 | 2010-06-30 | 2010-07-14 |
| 2010-03-29 | $0.29 | 0.0% | Cash | quarterly | 2010-03-18 | 2010-03-31 | 2010-04-14 |
| 2009-12-28 | $0.29 | 0.0% | Cash | quarterly | 2009-12-18 | 2009-12-30 | 2010-01-13 |
| 2009-09-28 | $0.29 | 0.0% | Cash | quarterly | 2009-09-11 | 2009-09-30 | 2009-10-14 |
| 2009-06-26 | $0.29 | 0.0% | Cash | quarterly | 2009-05-21 | 2009-06-30 | 2009-07-14 |
| 2009-03-23 | $0.29 | 0.0% | Cash | quarterly | 2009-03-13 | 2009-03-25 | 2009-04-08 |
| 2008-12-23 | $0.29 | 0.0% | Cash | quarterly | 2008-12-11 | 2008-12-26 | 2009-01-13 |
| 2008-09-22 | $0.29 | +7.4% | Cash | quarterly | 2008-09-10 | 2008-09-24 | 2008-10-08 |
| 2008-06-25 | $0.27 | 0.0% | Cash | quarterly | 2008-06-17 | 2008-06-27 | 2008-07-16 |
| 2008-03-12 | $0.27 | 0.0% | Cash | quarterly | 2008-02-22 | 2008-03-14 | 2008-04-04 |
| 2007-12-21 | $0.27 | 0.0% | Cash | quarterly | 2007-12-07 | 2007-12-26 | 2008-01-04 |
| 2007-09-06 | $0.27 | +8.0% | Cash | quarterly | 2007-08-28 | 2007-09-10 | 2007-10-05 |
| 2007-06-26 | $0.25 | 0.0% | Cash | quarterly | 2007-06-15 | 2007-06-28 | 2007-07-06 |
| 2007-03-13 | $0.25 | 0.0% | Cash | quarterly | 2007-03-05 | 2007-03-15 | 2007-04-04 |
| 2006-12-22 | $0.25 | 0.0% | Cash | quarterly | 2006-12-08 | 2006-12-27 | 2007-01-05 |
| 2006-09-07 | $0.25 | +8.7% | Cash | quarterly | 2006-08-29 | 2006-09-11 | 2006-10-06 |
| 2006-06-26 | $0.23 | 0.0% | Cash | quarterly | 2006-06-15 | 2006-06-28 | 2006-07-06 |
| 2006-03-13 | $0.23 | 0.0% | Cash | quarterly | 2006-02-27 | 2006-03-15 | 2006-04-04 |
| 2005-12-22 | $0.23 | 0.0% | Cash | quarterly | 2005-12-09 | 2005-12-27 | 2006-01-06 |
| 2005-09-02 | $0.23 | +12.2% | Cash | quarterly | 2005-08-23 | 2005-09-07 | 2005-10-05 |
| 2005-06-24 | $0.205 | 0.0% | Cash | quarterly | 2005-06-14 | 2005-06-28 | 2005-07-08 |
| 2005-03-11 | $0.205 | 0.0% | Cash | quarterly | 2005-01-28 | 2005-03-15 | 2005-04-04 |
| 2004-12-20 | $0.205 | 0.0% | Cash | quarterly | 2004-12-02 | 2004-12-22 | 2005-01-06 |
| 2004-09-10 | $0.205 | +13.9% | Cash | quarterly | 2004-08-24 | 2004-09-14 | 2004-10-08 |
| 2004-06-23 | $0.18 | 0.0% | Cash | quarterly | 2004-05-14 | 2004-06-25 | 2004-07-06 |
| 2004-03-11 | $0.18 | 0.0% | Cash | quarterly | 2004-03-02 | 2004-03-15 | 2004-04-05 |
| 2003-12-18 | $0.18 | 0.0% | Cash | quarterly | 2003-12-04 | 2003-12-22 | 2004-01-05 |
| 2003-09-11 | $0.18 | +20.0% | Cash | quarterly | 2003-08-26 | 2003-09-15 | 2003-10-06 |
| 2003-06-25 | $0.15 | 0.0% | Cash | quarterly | 2003-06-10 | 2003-06-27 | 2003-07-07 |
| 2003-03-12 | $0.15 | 0.0% | Cash | quarterly | 2003-03-04 | 2003-03-14 | 2003-04-04 |
| 2002-12-19 | $0.15 | 0.0% | Cash | quarterly | 2002-12-05 | 2002-12-23 | 2003-01-06 |
| 2002-09-12 | $0.15 | +15.4% | Cash | quarterly | 2002-08-27 | 2002-09-16 | 2002-10-07 |
| 2002-06-26 | $0.13 | 0.0% | Cash | quarterly | 2002-06-14 | 2002-06-28 | 2002-07-08 |
| 2002-03-13 | $0.13 | 0.0% | Cash | quarterly | 2002-03-05 | 2002-03-15 | 2002-04-05 |
| 2001-12-20 | $0.13 | 0.0% | Cash | quarterly | 2001-12-04 | 2001-12-24 | 2002-01-07 |
| 2001-09-13 | $0.13 | – | Cash | quarterly | 2001-08-28 | 2001-09-17 | 2001-10-05 |
No splits on record.