- Q4 2025 U.S. common dividend increases were $16.1 billion, up 14.9% from $14.0 billion in Q3 2025 and up 13.0% from $14.2 billion in Q4 2024.
- Q4 2025 U.S. common dividend decreases were $3.0 billion, down 12.4% from $3.4 billion in Q3 2025 and up 20.5% from $2.5 billion in Q4 2024.
- Q4 2025 net indicated dividend rate change increased $13.1 billion.
- For 2025 U.S. common dividend increases were $59.3 billion, down 16.9% from the 2024 period’s $71.4 billion; decreases were down 28.8% to $12.9 billion compared to $18.1 billion for the prior 12-month period.
- The net 2025 indicated dividend increase was $46.4 billion compared to $45.1 billion for the 12-months ending September 2025 and $53.3 billion for 2024.
NEW YORK, January 7, 2026: S&P Dow Jones Indices today announced the indicated dividend net changes (increases less decreases) for U.S. domestic common stocks increased $13.1 billion during Q4 2025, compared to the $10.6 billion increase in Q3 2025 and the $11.7 billion increase in Q4 2024. Increases were $16.1 billion in Q4 2025 versus $14.0 billion for Q3 2025 and $14.2 billion in Q4 2024. Decreases for the quarter were $3.0 billion compared to $3.4 billion in Q3 2025 and $2.5 billion in Q4 2024.
For 2025, the net dividend rate increased $46.4 billion compared to the net $53.3 billion for 2024. For 2023 it was $36.5 billion, 2022 was $68.2 billion, and in 2021 it was $69.8 billion; with the 2020 net change negative as 43 S&P 500 issues suspended their dividends at -$40.8 billion. Increases for the 12-month December 2025 period were $59.3 billion versus the previous period’s $71.4 billion, and decreases were $12.9 billion compared to $18.1 billion compared to the 2024 period.
“Dividend growth continued to be slow, but remained steady in Q4 2025, as concern over forward cash commitment was inhibited by the uncertainty over tariff policies, and any impact to consumer and enterprise spending, costs, and the general economy. Overall, companies continued to increase their dividends, but with smaller increases for those on a perceived schedule (annually). For companies not on a perceived schedule, some appear to have put off their actions for now,” said Howard Silverblatt, Senior Index Analyst at S&P Dow Jones Indices.
Silverblatt continued: “Given tariff and policy clarity have improved in Q4, companies may increase their payouts but still require more legislative and executive assurances for higher forward, long-term dividend commitments. At this point, Q1 2026 is expected to be a very busy positive period for dividend increases, as overall earnings and sales have posted record levels, with 2026 expected to post more records. However, given the current level of uncertainty and potential speed of policy change, investors should not be overly optimistic about the size of dividend increases, as S&P 500 issues are expected to post a mid-single digit payment gain for 2026.”
