Dividend payout ratio
The share of profit a company pays out as dividends.
A payout ratio of 40% means the company paid out 40 cents of every dollar it earned and kept the rest. Mature businesses pay out more; growing ones keep more to reinvest.
Above 100%, the company is paying more than it earns, from cash, borrowing or asset sales. That can last a year or two, not forever. REITs are the exception: they must pay out most of their income, and their accounting earnings understate cash flow.
Payout ratio across the S&P 500 today
384 companies with a meaningful value, as of Oct 11, 2026.
Highest in the S&P 500
| Extra Space Storage Inc EXR | 145.3% |
|---|---|
| Equinix Inc EQIX | 135.5% |
| Kimco Realty Corporation KIM | 130.6% |
| UDR Inc UDR | 128.7% |
| Starbucks Corporation SBUX | 118.8% |
| Public Storage PSA | 116.8% |
| Microchip Technology Inc MCHP | 111.7% |
| American Tower Corp AMT | 111.3% |
| Nike Inc NKE | 107.9% |
| Chevron Corp CVX | 107.1% |
Lowest in the S&P 500
| NVIDIA Corporation NVDA | 0.61% |
|---|---|
| Textron Inc TXT | 1.3% |
| Iron Mountain Incorporated IRM | 1.5% |
| Welltower Inc WELL | 1.5% |
| Mid-America Apartment Communities Inc MAA | 1.6% |
| Crown Castle CCI | 1.7% |
| Simon Property Group Inc SPG | 1.7% |
| Essex Property Trust Inc ESS | 1.7% |
| Invitation Homes Inc INVH | 1.8% |
| Boston Properties Inc BXP | 2.1% |
Median payout ratio by sector
S&P 500 companies only. Sectors differ a lot, so compare a company with its own sector first.
| Sector | Median | Companies |
|---|---|---|
| Utilities | 61.0% | 31 |
| Consumer Defensive | 60.1% | 27 |
| Energy | 37.7% | 21 |
| Consumer Cyclical | 33.0% | 37 |
| Industrials | 31.6% | 65 |
| Real Estate | 31.6% | 26 |
| Financial Services | 27.7% | 65 |
| Technology | 26.1% | 47 |
| Basic Materials | 24.2% | 15 |
| Healthcare | 22.3% | 37 |
| Communication Services | 19.6% | 13 |
Questions
What is Payout ratio?
The share of profit a company pays out as dividends.
How is Payout ratio calculated?
Payout ratio = dividends ÷ net income.
What is a normal payout ratio?
Across 384 S&P 500 companies, the median is 32.1%; the middle half sits between 19.5% and 51.3%. It varies a lot by sector.
Live figures from the latest prices and SEC filings. Information only, not investment advice. Updated October 9, 2026.