Dividend Yield (TTM)
1.10%
vs 5Y avg 1.66% · 10Y avg 1.54%
Dividend Yield (Forward)
2.20%
4 payments/yr (spacing)
Dividends / Share (TTM)
$4.42
Forward (annualized): $8.84
Payout Ratio (EPS, TTM)
57.6%
Payout Ratio (FCF, TTM)
34.4%
Dividend CAGR (3Y / 5Y / 10Y)
3Y10.9%5Y12.6%10Y16.6%
Consecutive Growth Years
16
as of 2025
Years Without a Cut
35
as of 2025
Total Shareholder Yield (TTM)
2.53%
Div 2.25% + Net buyback 0.29%
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)
2.5%
Dividends 2.2% + Net buybacks 0.3%
Net Buyback (TTM)
$1.04B
Gross $1.65B − Issuance $605M
SBC (TTM)
$1.02B
Share-based compensation, dilution driver
Net share-count change % / yr
Annual dividend growth
Dividend growth is decelerating (6.7% latest vs 13.5% 3-yr avg).
| Year | DPS (regular sum, USD) | Change | Hikes | |
|---|---|---|---|---|
| 2025 | 8.73 | +6.7% | 1 | |
| 2024 | 8.18 | +12.2% | 1 | |
| 2023 | 7.29 | +13.9% | 1 | |
| 2022 | 6.40 | +14.3% | 1 | |
| 2021 | 5.60 | +15.9% | 1 | |
| 2020 | 4.83 | +16.7% | 1 | |
| 2019 | 4.14 | +20.0% | 1 | |
| 2018 | 3.45 | +20.0% | 1 | |
| 2017 | 2.88 | +21.1% | 1 | |
| 2016 | 2.38 | +26.7% | 1 | |
| 2015 | 1.88 | +33.5% | 1 | |
| 2014 | 1.41 | +33.5% | 1 | |
| 2013 | 1.05 | +31.6% | 1 | |
| 2012 | 0.80 | +30.6% | 1 | |
| 2011 | 0.6125 | +51.2% | 1 |
Special dividends are excluded from these figures. Based on 85 regular payments.
Payment history (85 payments)
| As declared | Δ% | Type | Frequency | Declaration | Record | Pay date | ||
|---|---|---|---|---|---|---|---|---|
| 2026-03-09 | $2.21 | – | 0.0% | Cash | quarterly | 2026-02-25 | 2026-03-09 | 2026-03-17 |
| 2025-12-08 | $2.21 | – | 0.0% | Cash | quarterly | 2025-11-07 | 2025-12-08 | 2025-12-16 |
| 2025-09-15 | $2.21 | – | 0.0% | Cash | quarterly | 2025-08-13 | 2025-09-15 | 2025-09-23 |
| 2025-06-16 | $2.21 | – | +5.2% | Cash | quarterly | 2025-06-04 | 2025-06-16 | 2025-06-24 |
| 2025-03-10 | $2.1 | – | 0.0% | Cash | quarterly | 2025-02-24 | 2025-03-10 | 2025-03-18 |
| 2024-12-09 | $2.1 | – | 0.0% | Cash | quarterly | 2024-11-06 | 2024-12-09 | 2024-12-17 |
| 2024-09-16 | $2.1 | – | 0.0% | Cash | quarterly | 2024-08-07 | 2024-09-16 | 2024-09-24 |
| 2024-06-17 | $2.1 | – | +11.7% | Cash | quarterly | 2024-06-05 | 2024-06-17 | 2024-06-25 |
| 2024-03-08 | $1.88 | – | 0.0% | Cash | quarterly | 2024-02-23 | 2024-03-11 | 2024-03-19 |
| 2023-12-01 | $1.88 | – | 0.0% | Cash | quarterly | 2023-11-08 | 2023-12-04 | 2023-12-12 |
| 2023-09-08 | $1.88 | – | 0.0% | Cash | quarterly | 2023-08-23 | 2023-09-11 | 2023-09-19 |
| 2023-06-15 | $1.88 | – | +13.9% | Cash | quarterly | 2023-06-07 | 2023-06-19 | 2023-06-27 |
| 2023-03-10 | $1.65 | – | 0.0% | Cash | quarterly | 2023-02-27 | 2023-03-13 | 2023-03-21 |
| 2022-12-02 | $1.65 | – | 0.0% | Cash | quarterly | 2022-11-04 | 2022-12-05 | 2022-12-13 |
| 2022-09-09 | $1.65 | – | 0.0% | Cash | quarterly | 2022-08-17 | 2022-09-12 | 2022-09-20 |
| 2022-06-16 | $1.65 | – | +13.8% | Cash | quarterly | 2022-06-08 | 2022-06-20 | 2022-06-28 |
| 2022-03-11 | $1.45 | – | 0.0% | Cash | quarterly | 2022-02-16 | 2022-03-14 | 2022-03-22 |
| 2021-12-03 | $1.45 | – | 0.0% | Cash | quarterly | 2021-11-05 | 2021-12-06 | 2021-12-14 |
| 2021-09-10 | $1.45 | – | 0.0% | Cash | quarterly | 2021-08-11 | 2021-09-13 | 2021-09-21 |
| 2021-06-18 | $1.45 | – | +16.0% | Cash | quarterly | 2021-06-09 | 2021-06-21 | 2021-06-29 |
| 2021-03-12 | $1.25 | – | 0.0% | Cash | quarterly | 2021-02-24 | 2021-03-15 | 2021-03-23 |
| 2020-12-04 | $1.25 | – | 0.0% | Cash | quarterly | 2020-11-04 | 2020-12-07 | 2020-12-15 |
| 2020-09-11 | $1.25 | – | 0.0% | Cash | quarterly | 2020-08-05 | 2020-09-14 | 2020-09-22 |
| 2020-06-19 | $1.25 | – | +15.7% | Cash | quarterly | 2020-06-02 | 2020-06-22 | 2020-06-30 |
| 2020-03-13 | $1.08 | – | 0.0% | Cash | quarterly | 2020-02-17 | 2020-03-16 | 2020-03-24 |
| 2019-12-06 | $1.08 | – | 0.0% | Cash | quarterly | 2019-11-08 | 2019-12-09 | 2019-12-17 |
| 2019-09-13 | $1.08 | – | 0.0% | Cash | quarterly | 2019-08-14 | 2019-09-16 | 2019-09-24 |
| 2019-06-14 | $1.08 | – | +20.0% | Cash | quarterly | 2019-06-05 | 2019-06-17 | 2019-06-25 |
| 2019-03-08 | $0.9 | – | 0.0% | Cash | quarterly | 2019-02-27 | 2019-03-11 | 2019-03-19 |
| 2018-11-30 | $0.9 | – | 0.0% | Cash | quarterly | 2018-11-09 | 2018-12-03 | 2018-12-13 |
| 2018-09-06 | $0.9 | – | 0.0% | Cash | quarterly | 2018-08-08 | 2018-09-07 | 2018-09-18 |
| 2018-06-15 | $0.9 | – | +20.0% | Cash | quarterly | 2018-06-06 | 2018-06-18 | 2018-06-26 |
| 2018-03-08 | $0.75 | – | 0.0% | Cash | quarterly | 2018-02-12 | 2018-03-09 | 2018-03-20 |
| 2017-11-30 | $0.75 | – | 0.0% | Cash | quarterly | 2017-11-08 | 2017-12-01 | 2017-12-12 |
| 2017-09-07 | $0.75 | – | 0.0% | Cash | quarterly | 2017-08-15 | 2017-09-08 | 2017-09-19 |
| 2017-06-15 | $0.75 | – | +20.0% | Cash | quarterly | 2017-06-07 | 2017-06-19 | 2017-06-27 |
| 2017-03-08 | $0.625 | – | 0.0% | Cash | quarterly | 2017-02-09 | 2017-03-10 | 2017-03-21 |
| 2016-11-30 | $0.625 | – | 0.0% | Cash | quarterly | 2016-11-09 | 2016-12-02 | 2016-12-13 |
| 2016-09-07 | $0.625 | – | 0.0% | Cash | quarterly | 2016-08-03 | 2016-09-09 | 2016-09-20 |
| 2016-06-15 | $0.625 | – | +25.0% | Cash | quarterly | 2016-06-08 | 2016-06-17 | 2016-06-28 |
| 2016-03-09 | $0.5 | – | 0.0% | Cash | quarterly | 2016-02-10 | 2016-03-11 | 2016-03-22 |
| 2015-12-02 | $0.5 | – | 0.0% | Cash | quarterly | 2015-11-06 | 2015-12-04 | 2015-12-15 |
| 2015-09-09 | $0.5 | – | 0.0% | Cash | quarterly | 2015-08-12 | 2015-09-11 | 2015-09-22 |
| 2015-06-11 | $0.5 | – | +33.3% | Cash | quarterly | 2015-06-03 | 2015-06-15 | 2015-06-24 |
| 2015-03-11 | $0.375 | – | 0.0% | Cash | quarterly | 2015-02-11 | 2015-03-13 | 2015-03-24 |
| 2014-12-03 | $0.375 | – | 0.0% | Cash | quarterly | 2014-11-07 | 2014-12-05 | 2014-12-16 |
| 2014-09-10 | $0.375 | – | 0.0% | Cash | quarterly | 2014-08-13 | 2014-09-12 | 2014-09-23 |
| 2014-06-12 | $0.375 | – | +33.9% | Cash | quarterly | 2014-06-04 | 2014-06-16 | 2014-06-25 |
| 2014-03-12 | $0.28 | – | 0.0% | Cash | quarterly | 2014-02-13 | 2014-03-14 | 2014-03-25 |
| 2013-12-04 | $0.28 | – | 0.0% | Cash | quarterly | 2013-11-08 | 2013-12-06 | 2013-12-17 |
| 2013-09-11 | $0.28 | – | 0.0% | Cash | quarterly | 2013-08-14 | 2013-09-13 | 2013-09-24 |
| 2013-06-13 | $0.28 | – | +31.8% | Cash | quarterly | 2013-06-05 | 2013-06-17 | 2013-06-21 |
| 2013-03-13 | $0.2125 | – | 0.0% | Cash | quarterly | 2013-02-06 | 2013-03-15 | 2013-03-26 |
| 2012-12-07 | $0.2125 | – | 0.0% | Cash | quarterly | 2012-10-30 | 2012-12-11 | 2012-12-21 |
| 2012-09-12 | $0.2125 | – | 0.0% | Cash | quarterly | 2012-08-09 | 2012-09-14 | 2012-09-21 |
| 2012-06-13 | $0.2125 | – | +30.8% | Cash | quarterly | 2012-06-07 | 2012-06-15 | 2012-06-22 |
| 2012-03-01 | $0.1625 | – | 0.0% | Cash | quarterly | 2012-02-10 | 2012-03-05 | 2012-03-19 |
| 2011-12-05 | $0.1625 | – | 0.0% | Cash | quarterly | 2011-11-05 | 2011-12-07 | 2011-12-21 |
| 2011-09-02 | $0.1625 | – | 0.0% | Cash | quarterly | 2011-08-04 | 2011-09-07 | 2011-09-21 |
| 2011-06-03 | $0.1625 | – | +30.0% | Cash | quarterly | 2011-05-26 | 2011-06-07 | 2011-06-21 |
| 2011-03-03 | $0.125 | – | 0.0% | Cash | quarterly | 2011-02-11 | 2011-03-07 | 2011-03-21 |
| 2010-12-03 | $0.125 | – | 0.0% | Cash | quarterly | 2010-11-04 | 2010-12-07 | 2010-12-21 |
| 2010-09-10 | $0.125 | – | 0.0% | Cash | quarterly | 2010-08-05 | 2010-09-14 | 2010-09-28 |
| 2010-06-03 | $0.125 | – | +316.7% | Cash | quarterly | 2010-05-27 | 2010-06-07 | 2010-06-21 |
| 2010-04-01 | $0.03 | – | 0.0% | Cash | annual | 2010-02-11 | 2010-04-06 | 2010-04-20 |
| 2009-03-31 | $0.03 | – | 0.0% | Cash | annual | 2009-02-06 | 2009-04-02 | 2009-04-16 |
| 2008-03-31 | $0.03 | – | 0.0% | Cash | annual | 2008-02-21 | 2008-04-02 | 2008-04-16 |
| 2007-03-29 | $0.03 | – | 0.0% | Cash | annual | 2007-02-05 | 2007-04-16 | 2007-04-16 |
| 2006-03-30 | $0.03 | – | +100.0% | Cash | annual | 2006-02-16 | 2006-04-03 | 2006-04-17 |
| 2005-03-30 | $0.015 | $0.03 | 0.0% | Cash | annual | 2005-02-18 | 2005-04-01 | 2005-04-18 |
| 2004-03-30 | $0.015 | $0.03 | +100.0% | Cash | annual | 2004-02-19 | 2004-04-01 | 2004-04-16 |
| 2003-03-28 | $0.0075 | $0.03 | 0.0% | Cash | annual | 2003-02-14 | 2003-04-01 | 2003-04-17 |
| 2002-03-27 | $0.0075 | $0.03 | 0.0% | Cash | annual | 2002-02-15 | 2002-04-01 | 2002-04-17 |
| 2001-03-29 | $0.0075 | $0.03 | +97.4% | Cash | annual | 2001-02-15 | 2001-04-02 | 2001-04-18 |
| 2000-03-30 | $0.0038 | $0.0304 | 0.0% | Cash | annual | 2000-02-17 | 2000-03-28 | - |
| 1999-03-30 | $0.0038 | $0.0304 | 0.0% | Cash | annual | 1999-02-18 | 1999-03-26 | - |
| 1998-03-30 | $0.0038 | $0.0304 | 0.0% | Cash | annual | 1998-02-18 | 1998-03-26 | - |
| 1997-04-01 | $0.0038 | $0.0304 | 0.0% | Cash | annual | 1997-02-20 | 1997-03-28 | - |
| 1996-04-01 | $0.0038 | $0.0304 | 0.0% | Cash | annual | 1996-02-21 | 1996-03-28 | - |
| 1995-03-28 | $0.0038 | $0.0304 | 0.0% | Cash | annual | 1995-02-16 | 1995-03-24 | - |
| 1994-03-25 | $0.0038 | $0.0304 | +100.0% | Cash | annual | 1994-02-11 | 1994-04-01 | 1994-04-15 |
| 1993-03-26 | $0.0019 | $0.0304 | +90.0% | Cash | annual | 1993-02-16 | 1993-04-01 | 1993-04-16 |
| 1992-04-10 | $0.001 | $0.032 | 0.0% | Cash | annual | 1992-03-12 | 1992-04-16 | 1992-04-30 |
| 1991-05-24 | $0.001 | $0.032 | 0.0% | Cash | annual | 1991-05-17 | 1991-06-01 | 1991-06-15 |
| 1990-08-27 | $0.001 | $0.032 | – | Cash | annual | 1990-08-09 | 1990-09-01 | 1990-09-30 |
Splits (5)
| Date | Ratio | Cumulative |
|---|---|---|
| 1992-09-16 | 2:1 | ×32 to today |
| 1994-03-11 | 2:1 | ×16 to today |
| 2000-12-26 | 2:1 | ×8 to today |
| 2003-06-19 | 2:1 | ×4 to today |
| 2005-05-31 | 2:1 | ×2 to today |