Analog Devices (ADI) DIvidends Date & History

Key Takeaways

• Analog Devices (ADI) pays a quarterly dividend of $1.10 per share, translating to an annualized dividend of $4.40 and a forward dividend yield of approximately 1.11%.
• The company has raised its dividend for 22 consecutive years, placing it among the most consistent dividend growers in the semiconductor industry.
• The trailing twelve-month (TTM) dividend growth rate stands at roughly 9.4%, with a five-year compound annual growth rate (CAGR) of approximately 9.8%.
• ADI's payout ratio is approximately 62% based on earnings per share (EPS) and around 45% based on free cash flow (FCF), indicating the dividend is well-covered by cash generation.
• The company combines dividend payments with active share buybacks, delivering a total shareholder yield of over 2% in recent periods.
• ADI is not a high-yield stock, but its combination of dividend growth, strong free cash flow, and capital returns makes it a compelling candidate for long-term dividend growth investors.

Dividend Overview

Analog Devices, Inc. (ADI), a global leader in high-performance analog and mixed-signal semiconductor solutions, maintains a quarterly dividend policy that reflects disciplined capital allocation. The company's most recent quarterly dividend of $1.10 per share was paid on June 16, 2026, with the ex-dividend date falling on June 2, 2026. At current share price levels, ADI offers a forward dividend yield of approximately 1.11%. While the yield may appear modest compared to traditional high-yield income sectors such as utilities or real estate, it is competitive within the semiconductor industry, where the average dividend yield hovers around 1.03%. Analog Devices is best characterized not as a high-yield play but as a dividend growth stock — a company that prioritizes consistent annual increases in its per-share payout rather than maximizing its current yield.

Dividend History and Growth

Analog Devices has established one of the most dependable dividend growth track records in the technology sector. The company has increased its dividend for 22 consecutive years, marking it as a reliable income grower. Looking at the recent trajectory: ADI raised its quarterly dividend from $0.92 per share in 2024 to $0.99 per share in 2025, and then to $1.10 per share in 2026 — reflecting a year-over-year increase of over 10% in the most recent hike. Over a longer horizon, the dividend has grown at a five-year CAGR of roughly 9.8% and a ten-year CAGR of 9.5%. In 2017, the quarterly payout stood at just $0.45 per share, meaning it has more than doubled in less than a decade. The company has never cut its dividend during this 22-year streak, a notable achievement in the cyclical semiconductor industry, where downturns can pressure payouts. With just a few more years of sustained growth, ADI is on track to join the ranks of Dividend Aristocrats — S&P 500 companies with at least 25 consecutive years of dividend increases.

Dividend Sustainability and Payout Ratio

The sustainability of Analog Devices' dividend is underpinned by robust cash flow generation. The company's payout ratio based on earnings per share (EPS) is approximately 62%, while its free cash flow (FCF) payout ratio stands at roughly 45%. The FCF-based metric is particularly important because dividends are paid in cash, not accounting earnings, and a sub-50% FCF payout ratio signals ample room for continued increases. Over the trailing twelve months, ADI generated approximately $4 billion in operating cash flow and $3.3 billion in free cash flow. In recent fiscal years, the company has returned substantial capital to shareholders — $2.4 billion in fiscal 2024 alone, including $1.8 billion in dividends and $600 million in share repurchases. ADI's balance sheet remains manageable, and the combination of strong cash conversion and moderate leverage supports the view that the dividend is not only safe but has capacity for further growth. The company's free cash flow coverage provides a meaningful cushion against cyclical downturns that periodically affect the semiconductor market.

Dividend Compared to Industry Peers

Within the semiconductor industry, Analog Devices stands out for its balanced approach to shareholder returns. Its dividend yield of roughly 1.11% sits slightly above the technology sector average of approximately 1.03%. For context, peers such as TXN (Texas Instruments) — also known for strong dividend policies — offer a comparable or slightly higher yield, while many other semiconductor companies offer lower yields or no dividend at all. What differentiates ADI is the combination of a 22-year dividend growth streak, a healthy mid-single-digit yield for the sector, and an active share buyback program that adds roughly 1.1% to total shareholder yield. Among analog and mixed-signal semiconductor peers, ADI's dividend growth consistency and free cash flow coverage rank near the top of the class, making it one of the more dependable income-oriented names in a sector better known for capital appreciation than for dividends.

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Is This Stock Attractive for Dividend Investors?

Analog Devices is best suited for dividend growth investors and long-term, total-return-oriented shareholders rather than those seeking immediate high income. With a yield around 1.11%, the stock does not rank among the market's top income payers, but its 22-year track record of annual dividend increases and a five-year dividend CAGR near 10% make it a compelling candidate for investors focused on growing their income stream over time. The semiconductor industry is inherently cyclical, and ADI is not immune to downturns; however, the company's strong free cash flow generation and conservative FCF payout ratio of approximately 45% provide a solid buffer during weaker cycles. Income-oriented investors who prioritize dividend reliability, consistent growth, and total shareholder returns — including buybacks — are likely to find ADI an attractive core holding. Investors who need high current income or who are uncomfortable with the volatility associated with the semiconductor sector may find better alignment with higher-yielding sectors such as consumer staples, utilities, or real estate. As always, dividend-focused investors should evaluate ADI within the context of a diversified portfolio and their own financial objectives.

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