Dividend Yield (TTM)
2.26%
vs 5Y avg 2.05% · 10Y avg 2.00%
Dividend Yield (Forward)
2.45%
4 payments/yr (spacing)
Dividends / Share (TTM)
$1.44
Forward (annualized): $1.56
Payout Ratio (EPS, TTM)
77.8%
Payout Ratio (FCF, TTM)
39.1%
Dividend CAGR (3Y / 5Y / 10Y)
3Y12.5%5Y14.5%10Y13.0%
Consecutive Growth Years
20
as of 2025
Years Without a Cut
20
as of 2025
Total Shareholder Yield (TTM)
12.44%
Div 2.41% + Net buyback 10.02%
Growth, streak and CAGR figures exclude special dividends.
Upcoming dividend
$0.39 per shareTodayOct 18, 2026
Ex-dividendNov 16, 2026in 29 days
PaymentDec 1, 2026in 44 days
Own the stock before Nov 16, 2026 to receive this payment.
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)
12.4%
Dividends 2.4% + Net buybacks 10.0%
Net Buyback (TTM)
$3.71B
Gross $3.77B − Issuance $55M
SBC (TTM)
$175M
Share-based compensation, dilution driver
Net share-count change % / yr
Annual dividend growth
Dividend growth is decelerating (9.8% latest vs 16.1% 3-yr avg).
| Year | DPS (regular sum, USD) | Change | Hikes | |
|---|---|---|---|---|
| 2025 | 1.34 | +9.8% | 1 | |
| 2024 | 1.22 | +10.9% | 1 | |
| 2023 | 1.10 | +17.0% | 1 | |
| 2022 | 0.94 | +20.5% | 1 | |
| 2021 | 0.78 | +14.7% | 1 | |
| 2020 | 0.68 | +13.3% | 1 | |
| 2019 | 0.60 | +13.2% | 1 | |
| 2018 | 0.53 | +8.2% | 1 | |
| 2017 | 0.49 | +8.9% | 1 | |
| 2016 | 0.45 | +13.9% | 1 | |
| 2015 | 0.395 | +16.2% | 1 | |
| 2014 | 0.34 | +10.6% | 1 | |
| 2013 | 0.3075 | +24.2% | 1 | |
| 2012 | 0.2475 | +15.1% | 1 | |
| 2011 | 0.215 | +10.3% | 1 |
Special dividends are excluded from these figures. Based on 93 regular payments.
Payment history (95 payments · 1 special)
| As declared | Δ% | Type | Frequency | Declaration | Record | Pay date | ||
|---|---|---|---|---|---|---|---|---|
| 2026-11-16 | $0.39 | – | 0.0% | Cash | quarterly | 2026-09-17 | 2026-11-16 | 2026-12-01 |
| 2026-08-14 | $0.39 | – | +11.4% | Cash | quarterly | 2026-06-25 | 2026-08-14 | 2026-09-01 |
| 2026-05-15 | $0.35 | – | 0.0% | Cash | quarterly | 2026-03-12 | 2026-05-15 | 2026-06-01 |
| 2026-02-13 | $0.35 | – | 0.0% | Cash | quarterly | 2026-01-30 | 2026-02-13 | 2026-03-01 |
| 2025-11-14 | $0.35 | – | 0.0% | Cash | quarterly | 2025-09-18 | 2025-11-14 | 2025-12-01 |
| 2025-08-15 | $0.35 | – | +9.4% | Cash | quarterly | 2025-06-26 | 2025-08-15 | 2025-09-01 |
| 2025-05-15 | $0.32 | – | 0.0% | Cash | quarterly | 2025-03-13 | 2025-05-15 | 2025-06-01 |
| 2025-02-14 | $0.32 | – | 0.0% | Cash | quarterly | 2025-01-31 | 2025-02-14 | 2025-03-01 |
| 2024-11-15 | $0.32 | – | 0.0% | Cash | quarterly | 2024-09-19 | 2024-11-15 | 2024-12-01 |
| 2024-08-15 | $0.32 | – | +10.3% | Cash | quarterly | 2024-06-27 | 2024-08-15 | 2024-09-01 |
| 2024-05-14 | $0.29 | – | 0.0% | Cash | quarterly | 2024-03-14 | 2024-05-15 | 2024-06-01 |
| 2024-02-14 | $0.29 | – | 0.0% | Cash | quarterly | 2024-01-19 | 2024-02-15 | 2024-03-01 |
| 2023-11-14 | $0.29 | – | 0.0% | Cash | quarterly | 2023-09-14 | 2023-11-15 | 2023-12-01 |
| 2023-08-14 | $0.29 | – | +11.5% | Cash | quarterly | 2023-06-22 | 2023-08-15 | 2023-09-01 |
| 2023-05-12 | $0.26 | – | 0.0% | Cash | quarterly | 2023-03-09 | 2023-05-15 | 2023-06-01 |
| 2023-02-14 | $0.26 | – | 0.0% | Cash | quarterly | 2023-01-20 | 2023-02-15 | 2023-03-01 |
| 2022-11-14 | $0.26 | – | 0.0% | Cash | quarterly | 2022-09-15 | 2022-11-15 | 2022-12-01 |
| 2022-08-12 | $0.26 | – | +23.8% | Cash | quarterly | 2022-06-23 | 2022-08-15 | 2022-09-01 |
| 2022-05-12 | $0.21 | – | 0.0% | Cash | quarterly | 2022-03-10 | 2022-05-13 | 2022-06-01 |
| 2022-02-14 | $0.21 | – | 0.0% | Cash | quarterly | 2022-01-21 | 2022-02-15 | 2022-03-01 |
| 2021-11-12 | $0.21 | – | 0.0% | Cash | quarterly | 2021-09-15 | 2021-11-15 | 2021-12-01 |
| 2021-08-12 | $0.21 | – | +16.7% | Cash | quarterly | 2021-06-24 | 2021-08-13 | 2021-09-01 |
| 2021-05-13 | $0.18 | – | 0.0% | Cash | quarterly | 2021-03-11 | 2021-05-14 | 2021-06-01 |
| 2021-02-11 | $0.18 | – | 0.0% | Cash | quarterly | 2021-01-29 | 2021-02-12 | 2021-03-01 |
| 2020-11-12 | $0.18 | – | 0.0% | Cash | quarterly | 2020-09-17 | 2020-11-13 | 2020-12-01 |
| 2020-08-13 | $0.18 | – | +12.5% | Cash | quarterly | 2020-06-25 | 2020-08-14 | 2020-09-01 |
| 2020-05-14 | $0.16 | – | 0.0% | Cash | quarterly | 2020-03-12 | 2020-05-15 | 2020-06-01 |
| 2020-02-13 | $0.16 | – | 0.0% | Cash | quarterly | 2020-01-24 | 2020-02-14 | 2020-03-01 |
| 2019-11-14 | $0.16 | – | 0.0% | Cash | quarterly | 2019-09-19 | 2019-11-15 | 2019-12-01 |
| 2019-08-14 | $0.16 | – | +14.3% | Cash | quarterly | 2019-06-27 | 2019-08-15 | 2019-09-01 |
| 2019-05-14 | $0.14 | – | 0.0% | Cash | quarterly | 2019-03-14 | 2019-05-15 | 2019-06-01 |
| 2019-02-14 | $0.14 | – | 0.0% | Cash | quarterly | 2019-01-25 | 2019-02-15 | 2019-03-01 |
| 2018-11-14 | $0.14 | – | 0.0% | Cash | quarterly | 2018-09-20 | 2018-11-15 | 2018-12-01 |
| 2018-08-14 | $0.14 | – | +12.0% | Cash | quarterly | 2018-06-28 | 2018-08-15 | 2018-09-01 |
| 2018-05-14 | $0.125 | – | 0.0% | Cash | quarterly | 2018-03-15 | 2018-05-15 | 2018-06-01 |
| 2018-02-14 | $0.125 | – | 0.0% | Cash | quarterly | 2018-01-19 | 2018-02-15 | 2018-03-01 |
| 2017-11-14 | $0.125 | – | 0.0% | Cash | quarterly | 2017-09-14 | 2017-11-15 | 2017-12-01 |
| 2017-08-11 | $0.125 | – | +4.2% | Cash | quarterly | 2017-06-22 | 2017-08-15 | 2017-09-01 |
| 2017-05-11 | $0.12 | – | 0.0% | Cash | quarterly | 2017-03-09 | 2017-05-15 | 2017-06-01 |
| 2017-02-13 | $0.12 | – | 0.0% | Cash | quarterly | 2017-01-13 | 2017-02-15 | 2017-03-01 |
| 2016-11-10 | $0.12 | – | 0.0% | Cash | quarterly | 2016-09-15 | 2016-11-15 | 2016-12-01 |
| 2016-08-11 | $0.12 | – | +14.3% | Cash | quarterly | 2016-06-23 | 2016-08-15 | 2016-09-01 |
| 2016-05-11 | $0.105 | – | 0.0% | Cash | quarterly | 2016-03-10 | 2016-05-13 | 2016-06-01 |
| 2016-02-10 | $0.105 | – | 0.0% | Cash | quarterly | 2016-01-15 | 2016-02-12 | 2016-03-01 |
| 2015-11-10 | $0.105 | – | 0.0% | Cash | quarterly | 2015-09-17 | 2015-11-13 | 2015-12-01 |
| 2015-08-12 | $0.105 | – | +13.5% | Cash | quarterly | 2015-06-25 | 2015-08-14 | 2015-09-01 |
| 2015-05-13 | $0.0925 | $0.185 | 0.0% | Cash | quarterly | 2015-03-12 | 2015-05-15 | 2015-06-01 |
| 2015-02-11 | $0.0925 | $0.185 | 0.0% | Cash | quarterly | 2015-01-16 | 2015-02-16 | 2015-03-01 |
| 2014-11-12 | $0.0925 | $0.185 | +12.1% | Cash | quarterly | 2014-09-18 | 2014-11-14 | 2014-12-01 |
| 2014-08-13 | $0.0825 | $0.165 | 0.0% | Cash | quarterly | 2014-06-26 | 2014-08-15 | 2014-09-01 |
| 2014-05-13 | $0.0825 | $0.165 | 0.0% | Cash | quarterly | 2014-03-13 | 2014-05-15 | 2014-06-01 |
| 2014-02-12 | $0.0825 | $0.165 | 0.0% | Cash | quarterly | 2014-01-17 | 2014-02-15 | 2014-03-01 |
| 2013-11-13 | $0.0825 | $0.165 | +10.0% | Cash | quarterly | 2013-09-19 | 2013-11-15 | 2013-12-01 |
| 2013-08-13 | $0.075 | $0.15 | 0.0% | Cash | quarterly | 2013-06-27 | 2013-08-15 | 2013-09-01 |
| 2013-05-13 | $0.075 | $0.15 | 0.0% | Cash | quarterly | 2013-03-14 | 2013-05-15 | 2013-06-01 |
| 2013-02-13 | $0.075 | $0.15 | 0.0% | Cash | quarterly | 2013-01-18 | 2013-02-15 | 2013-03-01 |
| 2012-11-13 | $0.075 | $0.15 | +30.4% | Cash | quarterly | 2012-09-14 | 2012-11-15 | 2012-12-01 |
| 2012-08-13 | $0.0575 | $0.115 | 0.0% | Cash | quarterly | 2012-06-22 | 2012-08-15 | 2012-09-01 |
| 2012-05-11 | $0.0575 | $0.115 | 0.0% | Cash | quarterly | 2012-03-09 | 2012-05-15 | 2012-06-01 |
| 2012-02-13 | $0.0575 | $0.115 | 0.0% | Cash | quarterly | 2012-01-21 | 2012-02-15 | 2012-03-01 |
| 2011-11-10 | $0.0575 | $0.115 | +9.5% | Cash | quarterly | 2011-09-16 | 2011-11-15 | 2011-12-01 |
| 2011-08-11 | $0.0525 | $0.105 | 0.0% | Cash | quarterly | 2011-06-24 | 2011-08-15 | 2011-09-01 |
| 2011-05-12 | $0.0525 | $0.105 | 0.0% | Cash | quarterly | 2011-03-11 | 2011-05-16 | 2011-06-01 |
| 2011-02-11 | $0.0525 | $0.105 | 0.0% | Cash | quarterly | 2011-01-22 | 2011-02-15 | 2011-03-01 |
| 2010-11-10 | $0.0525 | $0.105 | +10.5% | Cash | quarterly | 2010-09-17 | 2010-11-15 | 2010-12-01 |
| 2010-08-12 | $0.0475 | $0.095 | 0.0% | Cash | quarterly | 2010-06-25 | 2010-08-16 | 2010-09-01 |
| 2010-05-12 | $0.0475 | $0.095 | 0.0% | Cash | quarterly | 2010-03-12 | 2010-05-14 | 2010-06-01 |
| 2010-02-10 | $0.0475 | $0.095 | 0.0% | Cash | quarterly | 2010-01-23 | 2010-02-12 | 2010-03-01 |
| 2009-11-12 | $0.0475 | $0.095 | +5.6% | Cash | quarterly | 2009-09-18 | 2009-11-16 | 2009-12-01 |
| 2009-08-12 | $0.045 | $0.09 | 0.0% | Cash | quarterly | 2009-06-26 | 2009-08-14 | 2009-09-01 |
| 2009-05-13 | $0.045 | $0.09 | 0.0% | Cash | quarterly | 2009-03-13 | 2009-05-15 | 2009-06-01 |
| 2009-02-11 | $0.045 | $0.09 | 0.0% | Cash | quarterly | 2009-01-24 | 2009-02-13 | 2009-03-01 |
| 2008-11-12 | $0.045 | $0.09 | 0.0% | Cash | quarterly | 2008-09-19 | 2008-11-14 | 2008-12-01 |
| 2008-08-13 | $0.045 | $0.09 | 0.0% | Cash | quarterly | 2008-06-27 | 2008-08-15 | 2008-09-01 |
| 2008-05-13 | $0.045 | $0.09 | +20.0% | Cash | quarterly | 2008-03-14 | 2008-05-15 | 2008-06-01 |
| 2008-02-13 | $0.0375 | $0.075 | 0.0% | Cash | quarterly | 2008-01-19 | 2008-02-15 | 2008-03-01 |
| 2007-11-13 | $0.0375 | $0.075 | 0.0% | Cash | quarterly | 2007-09-21 | 2007-11-15 | 2007-12-01 |
| 2007-08-13 | $0.0375 | $0.075 | 0.0% | Cash | quarterly | 2007-07-02 | 2007-08-15 | 2007-09-01 |
| 2007-05-11 | $0.0375 | $0.075 | +15.4% | Cash | quarterly | 2007-03-16 | 2007-05-15 | 2007-06-01 |
| 2007-02-13 | $0.0325 | $0.065 | 0.0% | Cash | quarterly | 2007-01-22 | 2007-02-15 | 2007-03-01 |
| 2006-11-13 | $0.0325 | $0.065 | 0.0% | Cash | quarterly | 2006-09-16 | 2006-11-15 | 2006-12-01 |
| 2006-08-11 | $0.0325 | $0.065 | 0.0% | Cash | quarterly | 2006-06-22 | 2006-08-15 | 2006-09-01 |
| 2006-05-11 | $0.0325 | $0.065 | -7.1% | Cash | quarterly | 2006-03-06 | 2006-05-15 | 2006-06-01 |
| 1988-12-05 | $5 | $40 | – | Special (cash) | — | 1988-09-26 | 1988-10-14 | 1988-12-02 |
| 1988-08-04 | $0.035 | $0.28 | 0.0% | Cash | quarterly | 1988-07-22 | 1988-08-10 | 1988-09-01 |
| 1988-05-04 | $0.035 | $0.28 | +6.5% | Cash | quarterly | 1988-04-22 | 1988-05-10 | 1988-06-01 |
| 1988-02-09 | $0.0329 | $0.2628 | 0.0% | Cash | quarterly | 1988-02-05 | 1988-02-16 | 1988-03-01 |
| 1987-11-03 | $0.0329 | $0.2628 | 0.0% | Cash | quarterly | 1987-10-30 | 1987-11-09 | 1987-12-01 |
| 1987-07-29 | $0.0329 | $0.2628 | 0.0% | Cash | quarterly | 1987-07-27 | 1987-08-04 | 1987-09-01 |
| 1987-04-27 | $0.0329 | $0.2628 | 0.0% | Cash | quarterly | 1987-04-24 | 1987-05-01 | 1987-06-01 |
| 1987-02-10 | $0.0329 | $0.2628 | 0.0% | Cash | quarterly | 1987-02-06 | 1987-02-17 | 1987-03-01 |
| 1986-10-28 | $0.0329 | $0.2628 | 0.0% | Cash | quarterly | 1986-10-24 | 1986-11-03 | 1986-12-01 |
| 1986-07-28 | $0.0329 | $0.2628 | +5.1% | Cash | quarterly | 1986-07-18 | 1986-08-01 | 1986-09-01 |
| 1986-04-28 | $0.0313 | $0.25 | 0.0% | Cash | quarterly | 1986-04-18 | 1986-05-02 | 1986-06-01 |
| 1986-02-04 | $0.0313 | $0.25 | – | Cash | quarterly | 1986-01-31 | 1986-02-10 | 1986-03-01 |
Splits (3)
| Date | Ratio | Cumulative |
|---|---|---|
| 1997-04-23 | 2:1 | ×8 to today |
| 1999-06-29 | 2:1 | ×4 to today |
| 2015-07-14 | 2:1 | ×2 to today |