Dividend Yield (TTM)
4.13%
vs 5Y avg 4.55% · 10Y avg 3.46%
Dividend Yield (Forward)
4.15%
4 payments/yr (spacing)
Dividends / Share (TTM)
$3.83
Forward (annualized): $3.84
Payout Ratio (EPS, TTM)
63.6%
Payout Ratio (FCF, TTM)
45.6%
Dividend CAGR (3Y / 5Y / 10Y)
3Y2.6%5Y11.6%10Y15.2%
Consecutive Growth Years
15
as of 2025
Years Without a Cut
15
as of 2025
Total Shareholder Yield (TTM)
4.97%
Div 4.22% + Net buyback 0.76%
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)
5.0%
Dividends 4.2% + Net buybacks 0.8%
Net Buyback (TTM)
$144M
Gross $144M − Issuance $0
SBC (TTM)
$138M
Share-based compensation, dilution driver
Net share-count change % / yr
Annual dividend growth
Dividend growth is decelerating (1.1% latest vs 10.8% 3-yr avg).
| Year | DPS (regular sum, USD) | Change | Hikes | |
|---|---|---|---|---|
| 2025 | 3.80 | +1.1% | 1 | |
| 2024 | 3.76 | +2.2% | 1 | |
| 2023 | 3.68 | +4.5% | 1 | |
| 2022 | 3.52 | +25.7% | 1 | |
| 2021 | 2.80 | +27.3% | 1 | |
| 2020 | 2.20 | +10.0% | 1 | |
| 2019 | 2.00 | +11.1% | 1 | |
| 2018 | 1.80 | +32.4% | 1 | |
| 2017 | 1.36 | +21.4% | 1 | |
| 2016 | 1.12 | +21.7% | 1 | |
| 2015 | 0.92 | +27.8% | 1 | |
| 2014 | 0.72 | +5.9% | 1 | |
| 2013 | 0.68 | +3.0% | 0 | |
| 2012 | 0.66 | +6.5% | 1 | |
| 2011 | 0.62 | +6.9% | 1 |
Special dividends are excluded from these figures. Based on 93 regular payments.
Payment history (95 payments · 2 special)
| As declared | Δ% | Type | Frequency | Declaration | Record | Pay date | ||
|---|---|---|---|---|---|---|---|---|
| 2026-09-17 | $0.96 | – | 0.0% | Cash | quarterly | 2026-08-27 | 2026-09-17 | 2026-10-08 |
| 2026-06-18 | $0.96 | – | 0.0% | Cash | quarterly | 2026-05-28 | 2026-06-18 | 2026-07-09 |
| 2026-03-24 | $0.96 | – | +1.1% | Cash | quarterly | 2026-03-03 | 2026-03-24 | 2026-04-14 |
| 2025-12-16 | $0.95 | – | 0.0% | Cash | quarterly | 2025-11-25 | 2025-12-16 | 2026-01-06 |
| 2025-09-18 | $0.95 | – | 0.0% | Cash | quarterly | 2025-08-28 | 2025-09-18 | 2025-10-09 |
| 2025-06-18 | $0.95 | – | 0.0% | Cash | quarterly | 2025-05-29 | 2025-06-19 | 2025-07-10 |
| 2025-03-25 | $0.95 | – | +1.1% | Cash | quarterly | 2025-03-04 | 2025-03-25 | 2025-04-15 |
| 2024-12-17 | $0.94 | – | 0.0% | Cash | quarterly | 2024-11-26 | 2024-12-17 | 2025-01-07 |
| 2024-09-19 | $0.94 | – | 0.0% | Cash | quarterly | 2024-08-28 | 2024-09-19 | 2024-10-10 |
| 2024-06-20 | $0.94 | – | 0.0% | Cash | quarterly | 2024-05-29 | 2024-06-20 | 2024-07-11 |
| 2024-03-20 | $0.94 | – | +2.2% | Cash | quarterly | 2024-02-29 | 2024-03-21 | 2024-04-11 |
| 2023-12-11 | $0.92 | – | 0.0% | Cash | quarterly | 2023-11-21 | 2023-12-12 | 2024-01-02 |
| 2023-09-18 | $0.92 | – | 0.0% | Cash | quarterly | 2023-08-29 | 2023-09-19 | 2023-10-10 |
| 2023-06-14 | $0.92 | – | 0.0% | Cash | quarterly | 2023-05-25 | 2023-06-15 | 2023-07-06 |
| 2023-03-22 | $0.92 | – | +4.5% | Cash | quarterly | 2023-03-02 | 2023-03-23 | 2023-04-13 |
| 2022-12-12 | $0.88 | – | 0.0% | Cash | quarterly | 2022-11-21 | 2022-12-13 | 2023-01-03 |
| 2022-09-19 | $0.88 | – | 0.0% | Cash | quarterly | 2022-08-30 | 2022-09-20 | 2022-10-11 |
| 2022-06-13 | $0.88 | – | 0.0% | Cash | quarterly | 2022-05-24 | 2022-06-14 | 2022-07-05 |
| 2022-03-23 | $0.88 | – | +25.7% | Cash | quarterly | 2022-03-02 | 2022-03-24 | 2022-04-14 |
| 2021-12-13 | $0.7 | – | 0.0% | Cash | quarterly | 2021-11-22 | 2021-12-14 | 2022-01-04 |
| 2021-09-13 | $0.7 | – | 0.0% | Cash | quarterly | 2021-08-24 | 2021-09-14 | 2021-10-05 |
| 2021-06-16 | $0.7 | – | 0.0% | Cash | quarterly | 2021-05-27 | 2021-06-17 | 2021-07-08 |
| 2021-03-17 | $0.7 | – | +27.3% | Cash | quarterly | 2021-02-26 | 2021-03-18 | 2021-04-08 |
| 2020-12-14 | $0.55 | – | 0.0% | Cash | quarterly | 2020-11-24 | 2020-12-15 | 2021-01-05 |
| 2020-09-14 | $0.55 | – | 0.0% | Cash | quarterly | 2020-08-24 | 2020-09-15 | 2020-10-06 |
| 2020-06-10 | $0.55 | – | 0.0% | Cash | quarterly | 2020-05-21 | 2020-06-11 | 2020-07-02 |
| 2020-03-18 | $0.55 | – | +10.0% | Cash | quarterly | 2020-02-27 | 2020-03-19 | 2020-04-09 |
| 2019-12-16 | $0.5 | – | 0.0% | Cash | quarterly | 2019-11-27 | 2019-12-17 | 2020-01-07 |
| 2019-09-18 | $0.5 | – | 0.0% | Cash | quarterly | 2019-08-30 | 2019-09-19 | 2019-10-10 |
| 2019-06-12 | $0.5 | – | 0.0% | Cash | quarterly | 2019-05-23 | 2019-06-13 | 2019-07-05 |
| 2019-03-19 | $0.5 | – | +11.1% | Cash | quarterly | 2019-02-27 | 2019-03-20 | 2019-04-10 |
| 2018-12-10 | $0.45 | – | 0.0% | Cash | quarterly | 2018-11-21 | 2018-12-11 | 2018-12-31 |
| 2018-09-17 | $0.45 | – | 0.0% | Cash | quarterly | 2018-08-29 | 2018-09-18 | 2018-10-09 |
| 2018-06-13 | $0.45 | – | 0.0% | Cash | quarterly | 2018-05-25 | 2018-06-14 | 2018-07-05 |
| 2018-03-21 | $0.45 | – | +32.4% | Cash | quarterly | 2018-03-01 | 2018-03-22 | 2018-04-12 |
| 2017-12-06 | $0.34 | – | 0.0% | Cash | quarterly | 2017-11-17 | 2017-12-07 | 2017-12-28 |
| 2017-09-18 | $0.34 | – | 0.0% | Cash | quarterly | 2017-08-30 | 2017-09-19 | 2017-10-10 |
| 2017-06-13 | $0.34 | – | 0.0% | Cash | quarterly | 2017-05-26 | 2017-06-15 | 2017-07-06 |
| 2017-03-20 | $0.34 | – | +21.4% | Cash | quarterly | 2017-03-03 | 2017-03-22 | 2017-04-12 |
| 2016-12-06 | $0.28 | – | 0.0% | Cash | quarterly | 2016-11-18 | 2016-12-08 | 2016-12-29 |
| 2016-09-09 | $0.28 | – | 0.0% | Cash | quarterly | 2016-08-24 | 2016-09-13 | 2016-10-04 |
| 2016-06-10 | $0.28 | – | 0.0% | Cash | quarterly | 2016-05-25 | 2016-06-14 | 2016-07-05 |
| 2016-03-15 | $0.28 | – | +21.7% | Cash | quarterly | 2016-02-25 | 2016-03-17 | 2016-04-07 |
| 2016-03-15 | $0.45 | – | – | Special (cash) | — | 2016-02-25 | 2016-03-17 | 2016-04-07 |
| 2015-12-08 | $0.23 | – | 0.0% | Cash | quarterly | 2015-11-20 | 2015-12-10 | 2015-12-31 |
| 2015-09-11 | $0.23 | – | 0.0% | Cash | quarterly | 2015-08-26 | 2015-09-15 | 2015-10-06 |
| 2015-06-09 | $0.23 | – | 0.0% | Cash | quarterly | 2015-05-22 | 2015-06-11 | 2015-07-02 |
| 2015-03-20 | $0.51 | – | – | Special (cash) | — | 2015-03-03 | 2015-03-24 | 2015-04-14 |
| 2015-03-20 | $0.23 | – | +21.1% | Cash | quarterly | 2015-03-03 | 2015-03-24 | 2015-04-14 |
| 2014-12-09 | $0.19 | – | 0.0% | Cash | quarterly | 2014-11-21 | 2014-12-11 | 2014-12-31 |
| 2014-09-09 | $0.19 | – | +11.8% | Cash | quarterly | 2014-06-10 | 2014-09-11 | 2014-10-02 |
| 2014-06-10 | $0.17 | – | 0.0% | Cash | quarterly | 2014-05-23 | 2014-06-12 | 2014-07-03 |
| 2014-03-18 | $0.17 | – | 0.0% | Cash | quarterly | 2014-02-28 | 2014-03-20 | 2014-04-10 |
| 2013-12-06 | $0.17 | – | 0.0% | Cash | quarterly | 2013-11-21 | 2013-12-10 | 2013-12-31 |
| 2013-09-06 | $0.17 | – | 0.0% | Cash | quarterly | 2013-08-21 | 2013-09-10 | 2013-10-01 |
| 2013-06-07 | $0.17 | – | 0.0% | Cash | quarterly | 2013-05-22 | 2013-06-11 | 2013-07-02 |
| 2013-03-19 | $0.17 | – | 0.0% | Cash | quarterly | 2013-03-01 | 2013-03-21 | 2013-04-11 |
| 2012-12-07 | $0.17 | – | 0.0% | Cash | quarterly | 2012-11-21 | 2012-12-11 | 2012-12-31 |
| 2012-09-07 | $0.17 | – | +6.3% | Cash | quarterly | 2012-06-22 | 2012-09-11 | 2012-10-02 |
| 2012-06-08 | $0.16 | – | 0.0% | Cash | quarterly | 2012-05-24 | 2012-06-12 | 2012-07-03 |
| 2012-04-17 | $0.16 | – | 0.0% | Cash | quarterly | 2012-03-31 | 2012-04-19 | 2012-05-10 |
| 2011-12-29 | $0.16 | – | 0.0% | Cash | quarterly | 2011-12-15 | 2012-01-03 | 2012-01-24 |
| 2011-09-30 | $0.16 | – | +6.7% | Cash | quarterly | 2011-06-22 | 2011-10-04 | 2011-10-25 |
| 2011-06-30 | $0.15 | – | 0.0% | Cash | quarterly | 2011-06-16 | 2011-07-05 | 2011-07-26 |
| 2011-04-12 | $0.15 | – | 0.0% | Cash | quarterly | 2011-03-26 | 2011-04-14 | 2011-05-05 |
| 2010-12-31 | $0.15 | – | 0.0% | Cash | quarterly | 2010-12-16 | 2011-01-04 | 2011-01-25 |
| 2010-10-01 | $0.15 | – | +7.1% | Cash | quarterly | 2010-06-25 | 2010-10-05 | 2010-10-26 |
| 2010-07-01 | $0.14 | – | 0.0% | Cash | quarterly | 2010-06-17 | 2010-07-06 | 2010-07-27 |
| 2010-04-13 | $0.14 | – | 0.0% | Cash | quarterly | 2010-03-27 | 2010-04-15 | 2010-05-06 |
| 2009-12-31 | $0.14 | – | 0.0% | Cash | quarterly | 2009-12-17 | 2010-01-05 | 2010-01-26 |
| 2009-10-02 | $0.14 | – | 0.0% | Cash | quarterly | 2009-09-17 | 2009-10-06 | 2009-10-27 |
| 2009-07-02 | $0.14 | – | 0.0% | Cash | quarterly | 2009-06-18 | 2009-07-07 | 2009-07-28 |
| 2009-04-14 | $0.14 | – | 0.0% | Cash | quarterly | 2009-03-30 | 2009-04-16 | 2009-05-07 |
| 2009-01-02 | $0.14 | – | 0.0% | Cash | quarterly | 2008-12-18 | 2009-01-06 | 2009-01-27 |
| 2008-10-03 | $0.14 | – | +7.7% | Cash | quarterly | 2008-06-26 | 2008-10-07 | 2008-10-28 |
| 2008-07-03 | $0.13 | – | 0.0% | Cash | quarterly | 2008-06-19 | 2008-07-08 | 2008-07-29 |
| 2008-04-21 | $0.13 | – | 0.0% | Cash | quarterly | 2008-04-03 | 2008-04-23 | 2008-05-14 |
| 2008-01-07 | $0.13 | – | 0.0% | Cash | quarterly | 2007-12-19 | 2008-01-09 | 2008-01-30 |
| 2007-10-04 | $0.13 | – | +30.0% | Cash | quarterly | 2007-09-19 | 2007-10-09 | 2007-10-30 |
| 2007-07-06 | $0.1 | – | 0.0% | Cash | quarterly | 2007-06-20 | 2007-07-10 | 2007-07-31 |
| 2007-04-23 | $0.1 | – | 0.0% | Cash | quarterly | 2007-04-05 | 2007-04-25 | 2007-05-16 |
| 2006-12-28 | $0.1 | – | 0.0% | Cash | quarterly | 2006-12-13 | 2007-01-02 | 2007-01-23 |
| 2006-09-29 | $0.1 | – | +25.0% | Cash | quarterly | 2006-09-14 | 2006-10-03 | 2006-10-24 |
| 2006-06-29 | $0.08 | – | 0.0% | Cash | quarterly | 2006-06-15 | 2006-07-03 | 2006-07-25 |
| 2006-04-18 | $0.08 | – | 0.0% | Cash | quarterly | 2006-03-31 | 2006-04-20 | 2006-05-11 |
| 2005-12-29 | $0.08 | – | 0.0% | Cash | quarterly | 2005-12-15 | 2006-01-03 | 2006-01-24 |
| 2005-09-30 | $0.08 | – | +9.1% | Cash | quarterly | 2005-08-08 | 2005-10-04 | 2005-10-25 |
| 2005-06-30 | $0.0733 | $0.11 | 0.0% | Cash | quarterly | 2005-05-19 | 2005-06-28 | - |
| 2005-04-18 | $0.0733 | $0.11 | 0.0% | Cash | quarterly | 2005-03-09 | 2005-04-14 | - |
| 2005-01-03 | $0.0733 | $0.11 | 0.0% | Cash | quarterly | 2004-11-24 | 2004-12-30 | - |
| 2004-10-04 | $0.0733 | $0.11 | +9.9% | Cash | quarterly | 2004-08-25 | 2004-09-30 | - |
| 2004-07-02 | $0.0667 | $0.1001 | 0.0% | Cash | quarterly | 2004-05-21 | 2004-06-30 | - |
| 2004-04-19 | $0.0667 | $0.1001 | 0.0% | Cash | quarterly | 2004-03-10 | 2004-04-15 | - |
| 2004-01-05 | $0.0667 | $0.1001 | -66.7% | Cash | quarterly | 2003-11-26 | 2004-01-01 | - |
| 2003-11-14 | $0.2 | $0.3 | – | Cash | quarterly | 2003-10-22 | 2003-11-18 | 2003-12-09 |
Splits (8)
| Date | Ratio | Cumulative |
|---|---|---|
| 1986-04-01 | 2:1 | ×81 to today |
| 1987-02-24 | 3:2 | ×40.5 to today |
| 1993-09-02 | 3:2 | ×27 to today |
| 1994-04-29 | 2:1 | ×18 to today |
| 1998-05-27 | 2:1 | ×9 to today |
| 1999-03-19 | 2:1 | ×4.5 to today |
| 2002-05-13 | 3:2 | ×2.25 to today |
| 2005-08-04 | 3:2 | ×1.5 to today |