Dividends: what the metrics mean
Dividend yield, payout growth and what share of earnings a company pays out to shareholders.
Dividend Yield (TTM) — dividend yield
Dividends paid over the last twelve months to the current price. A high yield comes in two kinds: a durable stream bought cheaply — and a fallen price ahead of a dividend cut, which is why it is always read next to the payout ratio and coverage.
4 Year Average Dividend Yield — the 4-year average yield
What to compare today's dividend yield with. A current yield well above its four-year average means one of two things: the stock fell more than the dividend did — or the market expects the dividend to be cut.
Dividend Yield (FWD) — expected yield
Dividends expected over the next twelve months to the current price. Below the TTM yield — a cut in payouts is expected, above — an increase.
Dividend Yield (FY2) — yield the year after next
The expected dividend yield of the second forecast year. Together with FWD, it shows whether analysts expect the company to keep raising its dividend.
1 Year Dividend Growth Rate (TTM) — dividend growth over the year
How much the dividend per share grew over the last twelve months versus the previous twelve.
Dividend Growth Rate (TTM) — dividend growth rate
The current rate of payout increases per share over the last twelve months.
Dividend Growth Rate 3Y (CAGR) — dividend growth over 3 years
The average annual rate of dividend increases over three years. A longer window is steadier than a single year: one missed or shifted payment does not flip it.
Dividend Growth Rate 5Y (CAGR) — dividend growth over 5 years
The average annual rate of dividend increases over five years — a window that includes the 2020 downturn.
Dividend Growth Rate 10Y (CAGR) — dividend growth over 10 years
The average annual rate over ten years: a check on whether the company's dividend policy has survived at least one full cycle.
Consecutive Years of Dividend Growth — years of dividend increases in a row
Not a percentage but a count of years: how many years in a row the company has raised its payout. Twenty-five or more is what the market calls a “dividend aristocrat”; for such a company a dividend cut means admitting defeat, so its payout is cut last.
Dividend Per Share Growth FY1–FY3 (CAGR) — dividend growth over 3 years
The average annual dividend growth expected over the next three forecast years.
Cash Dividend Payout Ratio (TTM) — share of earnings paid as dividends
What part of earnings goes to shareholders as payouts. A low value leaves room for both growth and a bad year; above 100% means the dividend is paid not from earnings but from savings or debt.
Dividend Payout Ratio (TTM, Non-GAAP) — payout on adjusted earnings
The same, but from earnings without one-off items. For a company that has just taken a large write-off, the GAAP version shows a payout “bigger than earnings”, even though there was plenty of cash for it.
Dividend Yield to Payout Ratio (TTM) — yield per unit of payout
Dividend yield divided by the share of earnings it takes. Answers whether the yield is costly for the company: a high value means a large yield with a modest burden on earnings.