Curtiss-Wright (CW) DIvidends Date & History

Key Takeaways

• Curtiss-Wright Corporation (CW) offers a modest current dividend yield of 0.13% with a quarterly payout of $0.24 per share.
• The company has increased its dividend for 10 consecutive years, reflecting a commitment to shareholder returns.
• Extremely low payout ratio of approximately 7% underscores exceptional dividend sustainability.
• Strong free cash flow (FCF) generation, often exceeding 100% conversion of net income, supports ongoing payments and growth.
• In the aerospace and defense sector, CW's yield trails larger peers but exceeds non-payers.
• Ideal for conservative dividend growth investors prioritizing safety over high income.

Dividend Overview

Curtiss-Wright Corporation (CW), a provider of engineered products for aerospace, defense, and industrial markets, maintains a modest dividend profile. The company pays a quarterly dividend of $0.24 per share, equating to an annual payout of $0.96 and a current yield of 0.13% based on recent stock prices around $713. The most recent ex-dividend date was March 26, 2026. With a five-year dividend growth rate of about 6.46%, CW qualifies as a dividend growth stock rather than a high-yield play. Its policy emphasizes balanced capital allocation, including share repurchases alongside reliable quarterly distributions, appealing to investors seeking stability in cyclical sectors.

Dividend History and Growth

Curtiss-Wright has a long history of quarterly dividend payments dating back decades, with no recorded cuts in recent years. The company has raised its dividend for 10 consecutive years, demonstrating consistency amid aerospace and defense market fluctuations. A notable 14% increase in May 2025 brought the quarterly rate to $0.24 from $0.21. Over the past five years, dividends have grown at a compound annual growth rate (CAGR) of 6.46%, aligning with steady earnings expansion. This track record reflects a long-term strategy of prudent payout growth tied to operational performance and cash generation, positioning CW as a reliable payer without aggressive distributions.

Dividend Sustainability and Payout Ratio

The dividend's sustainability is robust, underpinned by a trailing payout ratio of around 7%, meaning only a fraction of earnings is distributed. This leaves ample room for reinvestment, growth, and resilience during downturns. Free cash flow (FCF) coverage is exemplary, with 2025 FCF reaching $315 million and conversion rates often surpassing 100% of net income. Low debt levels and strong operating margins further bolster financial stability. Earnings growth and FCF trends suggest the payout could continue expanding, supported by defense sector tailwinds and the company's niche market leadership.

Dividend Compared to Industry Peers

In the aerospace and defense industry, CW's 0.13% yield is modest compared to larger primes like Lockheed Martin (LMT) at approximately 2.1% or RTX at around 1.3%. However, it surpasses non-dividend-paying peers such as Boeing (BA) or Heico (HEI), which prioritize growth over income. CW's lower yield reflects its focus on high-margin engineered solutions and share repurchases, offering a balanced profile versus high-yield but slower-growth counterparts.

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Is This Stock Attractive for Dividend Investors?

Curtiss-Wright Corporation (CW) suits dividend growth investors who prioritize safety and modest appreciation over immediate high income. Its 10-year streak of increases, ultra-low payout ratio, and superior FCF coverage make it resilient in the volatile aerospace and defense sector. Conservative long-term holders may appreciate the alignment with rising defense spending and the company's engineering expertise. However, yield seekers might find it lacking compared to higher-payers like LMT. Total return potential stems from earnings growth and buybacks, but cyclical risks warrant diversification. This profile appeals to those balancing income with capital preservation in a growth-oriented defense play.

Disclaimer

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