Dividend Yield (TTM)
1.48%
vs 5Y avg 2.20% · 10Y avg 1.90%
Dividend Yield (Forward)
2.04%
4 payments/yr (spacing)
Dividends / Share (TTM)
$13.00
Forward (annualized): $18.00
Payout Ratio (EPS, TTM)
26.2%
Payout Ratio (FCF, TTM)
—
Dividend CAGR (3Y / 5Y / 10Y)
3Y15.9%5Y22.9%10Y18.6%
Consecutive Growth Years
14
as of 2025
Years Without a Cut
15
as of 2025
Total Shareholder Yield (TTM)
6.65%
Div 2.03% + Net buyback 4.63%
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)
6.7%
Dividends 2.0% + Net buybacks 4.6%
Net Buyback (TTM)
$14.00B
Gross $14.00B − Issuance $0
SBC (TTM)
$3.46B
Share-based compensation, dilution driver
Net share-count change % / yr
Annual dividend growth
Dividend growth is steady (21.7% latest vs 21.6% 3-yr avg).
| Year | DPS (regular sum, USD) | Change | Hikes | |
|---|---|---|---|---|
| 2025 | 14.00 | +21.7% | 1 | |
| 2024 | 11.50 | +9.5% | 1 | |
| 2023 | 10.50 | +16.7% | 1 | |
| 2022 | 9.00 | +38.5% | 1 | |
| 2021 | 6.50 | +30.0% | 1 | |
| 2020 | 5.00 | +20.5% | 0 | |
| 2019 | 4.15 | +31.7% | 2 | |
| 2018 | 3.15 | +8.6% | 1 | |
| 2017 | 2.90 | +11.5% | 1 | |
| 2016 | 2.60 | +2.0% | 0 | |
| 2015 | 2.55 | +13.3% | 1 | |
| 2014 | 2.25 | +9.8% | 1 | |
| 2013 | 2.05 | +15.8% | 1 | |
| 2012 | 1.77 | +26.4% | 2 | |
| 2011 | 1.40 | 0.0% | 0 |
Special dividends are excluded from these figures. Based on 108 regular payments.
Payment history (108 payments)
| Δ% | Type | Frequency | Declaration | Record | Pay date | ||
|---|---|---|---|---|---|---|---|
| 2026-06-01 | $4.5 | 0.0% | Cash | quarterly | 2026-04-13 | 2026-06-01 | 2026-06-29 |
| 2026-03-02 | $4.5 | +12.5% | Cash | quarterly | 2026-01-14 | 2026-03-02 | 2026-03-30 |
| 2025-12-02 | $4 | 0.0% | Cash | quarterly | 2025-10-13 | 2025-12-02 | 2025-12-30 |
| 2025-08-29 | $4 | +33.3% | Cash | quarterly | 2025-07-14 | 2025-08-29 | 2025-09-29 |
| 2025-05-30 | $3 | 0.0% | Cash | quarterly | 2025-04-14 | 2025-05-30 | 2025-06-27 |
| 2025-02-28 | $3 | 0.0% | Cash | quarterly | 2025-01-14 | 2025-02-28 | 2025-03-28 |
| 2024-12-02 | $3 | 0.0% | Cash | quarterly | 2024-10-15 | 2024-12-02 | 2024-12-30 |
| 2024-08-30 | $3 | +9.1% | Cash | quarterly | 2024-07-12 | 2024-08-30 | 2024-09-27 |
| 2024-05-30 | $2.75 | 0.0% | Cash | quarterly | 2024-04-11 | 2024-05-30 | 2024-06-27 |
| 2024-02-28 | $2.75 | 0.0% | Cash | quarterly | 2024-01-12 | 2024-02-29 | 2024-03-28 |
| 2023-11-29 | $2.75 | 0.0% | Cash | quarterly | 2023-10-12 | 2023-11-30 | 2023-12-28 |
| 2023-08-30 | $2.75 | +10.0% | Cash | quarterly | 2023-07-18 | 2023-08-31 | 2023-09-28 |
| 2023-05-31 | $2.5 | 0.0% | Cash | quarterly | 2023-04-14 | 2023-06-01 | 2023-06-29 |
| 2023-03-01 | $2.5 | 0.0% | Cash | quarterly | 2023-01-13 | 2023-03-02 | 2023-03-30 |
| 2022-11-30 | $2.5 | 0.0% | Cash | quarterly | 2022-10-17 | 2022-12-01 | 2022-12-29 |
| 2022-08-31 | $2.5 | +25.0% | Cash | quarterly | 2022-07-14 | 2022-09-01 | 2022-09-29 |
| 2022-05-31 | $2 | 0.0% | Cash | quarterly | 2022-04-13 | 2022-06-01 | 2022-06-29 |
| 2022-03-01 | $2 | 0.0% | Cash | quarterly | 2022-01-14 | 2022-03-02 | 2022-03-30 |
| 2021-12-01 | $2 | 0.0% | Cash | quarterly | 2021-10-13 | 2021-12-02 | 2021-12-30 |
| 2021-08-31 | $2 | +60.0% | Cash | quarterly | 2021-07-12 | 2021-09-01 | 2021-09-29 |
| 2021-05-28 | $1.25 | 0.0% | Cash | quarterly | 2021-04-13 | 2021-06-01 | 2021-06-29 |
| 2021-03-01 | $1.25 | 0.0% | Cash | quarterly | 2021-01-20 | 2021-03-02 | 2021-03-30 |
| 2020-12-01 | $1.25 | 0.0% | Cash | quarterly | 2020-10-13 | 2020-12-02 | 2020-12-30 |
| 2020-08-31 | $1.25 | 0.0% | Cash | quarterly | 2020-07-14 | 2020-09-01 | 2020-09-29 |
| 2020-05-29 | $1.25 | 0.0% | Cash | quarterly | 2020-04-14 | 2020-06-01 | 2020-06-29 |
| 2020-02-28 | $1.25 | 0.0% | Cash | quarterly | 2020-01-14 | 2020-03-02 | 2020-03-30 |
| 2019-11-29 | $1.25 | 0.0% | Cash | quarterly | 2019-10-14 | 2019-12-02 | 2019-12-30 |
| 2019-08-29 | $1.25 | +47.1% | Cash | quarterly | 2019-07-15 | 2019-08-30 | 2019-09-27 |
| 2019-05-29 | $0.85 | +6.3% | Cash | quarterly | 2019-04-12 | 2019-05-30 | 2019-06-27 |
| 2019-02-27 | $0.8 | 0.0% | Cash | quarterly | 2019-01-15 | 2019-02-28 | 2019-03-28 |
| 2018-11-29 | $0.8 | 0.0% | Cash | quarterly | 2018-10-15 | 2018-11-30 | 2018-12-28 |
| 2018-08-29 | $0.8 | 0.0% | Cash | quarterly | 2018-07-17 | 2018-08-30 | 2018-09-27 |
| 2018-05-30 | $0.8 | +6.7% | Cash | quarterly | 2018-05-15 | 2018-05-31 | 2018-06-28 |
| 2018-02-28 | $0.75 | 0.0% | Cash | quarterly | 2018-01-16 | 2018-03-01 | 2018-03-29 |
| 2017-11-29 | $0.75 | 0.0% | Cash | quarterly | 2017-11-09 | 2017-11-30 | 2017-12-28 |
| 2017-08-29 | $0.75 | 0.0% | Cash | quarterly | 2017-08-09 | 2017-08-31 | 2017-09-28 |
| 2017-05-30 | $0.75 | +15.4% | Cash | quarterly | 2017-04-17 | 2017-06-01 | 2017-06-29 |
| 2017-02-28 | $0.65 | 0.0% | Cash | quarterly | 2017-01-18 | 2017-03-02 | 2017-03-30 |
| 2016-11-29 | $0.65 | 0.0% | Cash | quarterly | 2016-10-18 | 2016-12-01 | 2016-12-29 |
| 2016-08-30 | $0.65 | 0.0% | Cash | quarterly | 2016-07-19 | 2016-09-01 | 2016-09-29 |
| 2016-05-27 | $0.65 | 0.0% | Cash | quarterly | 2016-04-19 | 2016-06-01 | 2016-06-29 |
| 2016-02-29 | $0.65 | 0.0% | Cash | quarterly | 2016-01-19 | 2016-03-02 | 2016-03-30 |
| 2015-11-30 | $0.65 | 0.0% | Cash | quarterly | 2015-10-14 | 2015-12-02 | 2015-12-30 |
| 2015-08-28 | $0.65 | 0.0% | Cash | quarterly | 2015-07-16 | 2015-09-01 | 2015-09-29 |
| 2015-05-28 | $0.65 | +8.3% | Cash | quarterly | 2015-04-15 | 2015-06-01 | 2015-06-29 |
| 2015-02-26 | $0.6 | 0.0% | Cash | quarterly | 2015-01-19 | 2015-03-02 | 2015-03-30 |
| 2014-11-28 | $0.6 | +9.1% | Cash | quarterly | 2014-10-15 | 2014-12-02 | 2014-12-30 |
| 2014-08-27 | $0.55 | 0.0% | Cash | quarterly | 2014-07-14 | 2014-08-29 | 2014-09-29 |
| 2014-05-28 | $0.55 | 0.0% | Cash | quarterly | 2014-04-17 | 2014-05-30 | 2014-06-27 |
| 2014-02-26 | $0.55 | 0.0% | Cash | quarterly | 2014-01-16 | 2014-02-28 | 2014-03-28 |
| 2013-11-27 | $0.55 | +10.0% | Cash | quarterly | 2013-10-18 | 2013-12-02 | 2013-12-30 |
| 2013-08-28 | $0.5 | 0.0% | Cash | quarterly | 2013-07-15 | 2013-08-30 | 2013-09-27 |
| 2013-05-28 | $0.5 | 0.0% | Cash | quarterly | 2013-04-15 | 2013-05-30 | 2013-06-27 |
| 2013-02-26 | $0.5 | 0.0% | Cash | quarterly | 2013-01-15 | 2013-02-28 | 2013-03-28 |
| 2012-11-28 | $0.5 | +8.7% | Cash | quarterly | 2012-10-17 | 2012-11-30 | 2012-12-28 |
| 2012-08-28 | $0.46 | 0.0% | Cash | quarterly | 2012-07-18 | 2012-08-30 | 2012-09-27 |
| 2012-05-29 | $0.46 | +31.4% | Cash | quarterly | 2012-04-18 | 2012-05-31 | 2012-06-28 |
| 2012-02-28 | $0.35 | 0.0% | Cash | quarterly | 2012-01-19 | 2012-03-01 | 2012-03-29 |
| 2011-11-29 | $0.35 | 0.0% | Cash | quarterly | 2011-10-19 | 2011-12-01 | 2011-12-29 |
| 2011-08-30 | $0.35 | 0.0% | Cash | quarterly | 2011-07-20 | 2011-09-01 | 2011-09-29 |
| 2011-05-27 | $0.35 | 0.0% | Cash | quarterly | 2011-04-20 | 2011-06-01 | 2011-06-29 |
| 2011-02-28 | $0.35 | 0.0% | Cash | quarterly | 2011-01-20 | 2011-03-02 | 2011-03-30 |
| 2010-11-30 | $0.35 | 0.0% | Cash | quarterly | 2010-10-20 | 2010-12-02 | 2010-12-30 |
| 2010-08-30 | $0.35 | 0.0% | Cash | quarterly | 2010-07-21 | 2010-09-01 | 2010-09-29 |
| 2010-05-27 | $0.35 | 0.0% | Cash | quarterly | 2010-04-21 | 2010-06-01 | 2010-06-29 |
| 2010-02-26 | $0.35 | 0.0% | Cash | quarterly | 2010-01-22 | 2010-03-02 | 2010-03-30 |
| 2009-11-30 | $0.35 | 0.0% | Cash | quarterly | 2009-10-16 | 2009-12-02 | 2009-12-30 |
| 2009-08-21 | $0.35 | 0.0% | Cash | quarterly | 2009-07-15 | 2009-08-25 | 2009-09-24 |
| 2009-05-21 | $0.35 | -25.0% | Cash | quarterly | 2009-04-15 | 2009-05-26 | 2009-06-25 |
| 2009-02-20 | $0.4667 | +33.3% | Cash | quarterly | 2008-12-17 | 2009-02-24 | 2009-03-26 |
| 2008-10-23 | $0.35 | 0.0% | Cash | quarterly | 2008-09-17 | 2008-10-27 | 2008-11-24 |
| 2008-07-25 | $0.35 | 0.0% | Cash | quarterly | 2008-06-18 | 2008-07-29 | 2008-08-28 |
| 2008-04-25 | $0.35 | 0.0% | Cash | quarterly | 2008-03-17 | 2008-04-29 | 2008-05-29 |
| 2008-01-25 | $0.35 | 0.0% | Cash | quarterly | 2007-12-17 | 2008-01-29 | 2008-02-28 |
| 2007-10-25 | $0.35 | 0.0% | Cash | quarterly | 2007-09-19 | 2007-10-29 | 2007-11-26 |
| 2007-07-27 | $0.35 | 0.0% | Cash | quarterly | 2007-06-13 | 2007-07-31 | 2007-08-30 |
| 2007-04-20 | $0.35 | 0.0% | Cash | quarterly | 2007-03-13 | 2007-04-24 | 2007-05-24 |
| 2007-01-19 | $0.35 | 0.0% | Cash | quarterly | 2006-12-11 | 2007-01-23 | 2007-02-22 |
| 2006-10-19 | $0.35 | 0.0% | Cash | quarterly | 2006-09-11 | 2006-10-23 | 2006-11-20 |
| 2006-07-21 | $0.35 | 0.0% | Cash | quarterly | 2006-06-12 | 2006-07-25 | 2006-08-24 |
| 2006-04-21 | $0.35 | +40.0% | Cash | quarterly | 2006-03-13 | 2006-04-25 | 2006-05-25 |
| 2006-01-20 | $0.25 | 0.0% | Cash | quarterly | 2005-12-15 | 2006-01-24 | 2006-02-23 |
| 2005-10-20 | $0.25 | 0.0% | Cash | quarterly | 2005-09-20 | 2005-10-24 | 2005-11-21 |
| 2005-07-22 | $0.25 | 0.0% | Cash | quarterly | 2005-06-16 | 2005-07-26 | 2005-08-25 |
| 2005-04-22 | $0.25 | 0.0% | Cash | quarterly | 2005-03-17 | 2005-04-26 | 2005-05-26 |
| 2005-01-21 | $0.25 | 0.0% | Cash | quarterly | 2005-01-04 | 2005-01-25 | 2005-02-24 |
| 2004-10-21 | $0.25 | 0.0% | Cash | quarterly | 2004-09-22 | 2004-10-25 | 2004-11-22 |
| 2004-07-23 | $0.25 | 0.0% | Cash | quarterly | 2004-06-11 | 2004-07-27 | 2004-08-26 |
| 2004-04-23 | $0.25 | 0.0% | Cash | quarterly | 2004-03-12 | 2004-04-27 | 2004-05-27 |
| 2004-01-23 | $0.25 | 0.0% | Cash | quarterly | 2003-12-12 | 2004-01-27 | 2004-02-26 |
| 2003-10-23 | $0.25 | 0.0% | Cash | quarterly | 2003-09-23 | 2003-10-27 | 2003-11-24 |
| 2003-07-25 | $0.25 | +108.3% | Cash | quarterly | 2003-06-25 | 2003-07-29 | 2003-08-28 |
| 2003-04-25 | $0.12 | 0.0% | Cash | quarterly | 2003-03-20 | 2003-04-29 | 2003-05-29 |
| 2003-01-24 | $0.12 | 0.0% | Cash | quarterly | 2002-12-19 | 2003-01-28 | 2003-02-27 |
| 2002-10-24 | $0.12 | 0.0% | Cash | quarterly | 2002-09-24 | 2002-10-28 | 2002-11-25 |
| 2002-07-26 | $0.12 | 0.0% | Cash | quarterly | 2002-06-20 | 2002-07-30 | 2002-08-29 |
| 2002-04-26 | $0.12 | 0.0% | Cash | quarterly | 2002-03-19 | 2002-04-30 | 2002-05-30 |
| 2002-01-17 | $0.12 | 0.0% | Cash | quarterly | 2001-12-06 | 2002-01-22 | 2002-02-21 |
| 2001-10-25 | $0.12 | 0.0% | Cash | quarterly | 2001-09-26 | 2001-10-29 | 2001-11-26 |
| 2001-07-27 | $0.12 | 0.0% | Cash | quarterly | 2001-06-19 | 2001-07-31 | 2001-08-30 |
| 2001-04-20 | $0.12 | 0.0% | Cash | quarterly | 2001-03-20 | 2001-04-24 | 2001-05-24 |
| 2001-01-18 | $0.12 | 0.0% | Cash | quarterly | 2000-12-19 | 2001-01-22 | 2001-02-21 |
| 2000-10-19 | $0.12 | 0.0% | Cash | quarterly | 2000-09-19 | 2000-10-23 | 2000-11-20 |
| 2000-07-20 | $0.12 | 0.0% | Cash | quarterly | 2000-06-20 | 2000-07-24 | 2000-08-24 |
| 2000-04-19 | $0.12 | 0.0% | Cash | quarterly | 2000-03-20 | 2000-04-24 | 2000-05-25 |
| 2000-01-20 | $0.12 | 0.0% | Cash | quarterly | 1999-12-21 | 2000-01-24 | 2000-02-24 |
| 1999-10-21 | $0.12 | 0.0% | Cash | quarterly | 1999-09-21 | 1999-10-21 | 1999-11-22 |
| 1999-08-10 | $0.12 | – | Cash | quarterly | 1999-06-24 | 1999-08-12 | 1999-08-27 |
No splits on record.