Goldman Sachs Group (GS) DIvidends Date & History

Key Takeaways

• Goldman Sachs (GS) pays a quarterly dividend of $5.00 per share, or about $20.00 per share on an annualized basis.
• The dividend yield is roughly 2%, a modest but steadily rising income stream for a major financial institution.
• The payout ratio of roughly 29% indicates the dividend is well covered by earnings, leaving substantial room for future increases.
• Goldman Sachs has raised its dividend for 13 consecutive years, with a five-year average annual growth rate near 23%.
• The stock is better suited to dividend growth investors than to investors seeking high current income.

Dividend Overview

The Goldman Sachs Group, Inc. (GS) is a leading global investment bank and financial services firm, and it maintains a consistent, quarterly dividend policy. The company most recently increased its quarterly payout to $5.00 per share, bringing its annualized dividend to approximately $20.00 per share and producing a dividend yield of around 2%. Dividends are paid every three months, and the most recent ex-dividend date was September 1, 2026, with the following payment made on September 29, 2026.

Goldman Sachs is best characterized as a dividend growth stock rather than a high-yield stock. Its current yield is modest relative to many income-oriented equities, but the company has demonstrated a strong commitment to raising its payout rapidly over time. For investors, GS offers a blend of modest current income and above-average dividend growth potential.

Dividend History and Growth

Goldman Sachs has a well-documented history of returning capital to shareholders, and its recent trajectory has been notably aggressive. The quarterly dividend has climbed from $2.00 per share in 2021 to $5.00 per share in 2026, reflecting a series of meaningful annual increases. According to available records, the company has increased its dividend for 13 consecutive years.

Over the past five years, the dividend has grown at an average annual rate of roughly 23%, a pace that places Goldman among the faster dividend growers in the financial sector. The most recent increase, announced in July 2026, raised the quarterly payout by $0.50 to $5.00 per share. This sustained growth reflects management's confidence in the firm's earnings power and its broader capital-return strategy, which also includes substantial share repurchases.

Dividend Sustainability and Payout Ratio

Goldman Sachs' dividend appears well supported by its earnings. The payout ratio is approximately 29% of trailing earnings, a conservative level that leaves a wide margin of safety for the distribution. Coverage based on cash flow is similarly comfortable, reported in the low-30% range. These figures indicate that the company retains the majority of its profits to fund operations, investments, and buybacks while comfortably covering its dividend.

The firm's diversified business model—spanning investment banking, trading, asset and wealth management, and platform solutions—provides multiple earnings streams that support consistent payouts through varying market conditions. As a systemically important bank, Goldman Sachs maintains robust regulatory capital and liquidity buffers, which underpin its ability to sustain and grow shareholder distributions over time.

Dividend Compared to Industry Peers

Within the large-cap U.S. banking and financial services sector, Goldman Sachs' roughly 2% yield sits in the lower-to-middle range. Diversified peers such as JPM and BAC typically offer comparable or slightly higher yields, while investment-banking-focused rivals like MS can carry higher yields. However, Goldman Sachs' defining characteristic relative to peers is the speed of its dividend growth, which has outpaced many competitors in recent years.

For investors, this means GS trades a somewhat lower current yield for a faster-growing payout. The profile may appeal more to those prioritizing long-term income growth over immediate cash returns, while pure income investors may find higher starting yields elsewhere in the sector.

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Is This Stock Attractive for Dividend Investors?

Goldman Sachs is likely to appeal most to dividend growth investors and long-term, total-return-oriented shareholders. Its roughly 2% yield is modest, so investors relying primarily on current income may find it less attractive than higher-yielding financials. However, the company's rapid dividend increases, conservative payout ratio, and strong capital position make it a compelling candidate for those seeking a growing income stream over time.

The stock may also suit investors who value the diversification of a globally diversified financial franchise with multiple revenue sources. That said, earnings in investment banking and trading are cyclical, which can introduce variability into results even as the dividend itself has remained reliable. As with any equity, the stock is best evaluated within the context of an investor's own objectives and risk tolerance.

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