Mondelez International (MDLZ) DIvidends Date & History

Key Takeaways

• Quarterly payout: Mondelez pays $0.52 per share each quarter, an annualized rate of roughly $2.08 per share after a 4% increase announced in July 2026.
• Dividend yield: The stock offers a forward dividend yield of approximately 3.3%, above its own five-year historical average.
• Growth streak: The company has raised its dividend for 13 consecutive years, a reliable dividend-growth track record.
• Growth rate: Dividends have compounded at roughly 10% annually over the past five years and about 12% annually over the past decade.
• Coverage: The payout is comfortably supported by free cash flow, though trailing earnings-based ratios are elevated due to cocoa-related cost pressures.

Dividend Overview

Mondelez International (MDLZ), the global snacks company behind brands such as Oreo, Cadbury, Chips Ahoy!, and Triscuit, has paid a dividend for more than two decades and has increased it every year since 2013. The company distributes its dividend on a quarterly schedule, with payments typically made in January, April, July, and October. Following a 4% raise announced in July 2026, the quarterly rate stands at $0.52 per share, equivalent to about $2.08 on an annualized basis. At recent prices, this translates to a forward dividend yield of roughly 3.3%. With double-digit long-term dividend growth and a yield comfortably above the broader market average, Mondelez is best characterized as a dividend growth stock rather than a pure high-yield or modest-income holding.

Dividend History and Growth

Mondelez has built an unusually consistent dividend record for a large-cap consumer staples company. The annual dividend has climbed from $0.82 per share in 2017 to $1.94 per share in 2025, reflecting steady, near-double-digit increases nearly every year. The five-year average annual dividend growth rate is roughly 10%, while the ten-year rate is close to 12%. This progression moved the company from a relatively low-yield name into a more meaningful income vehicle, with the yield expanding as the payout grew faster than the share price over much of the period. The company's 13-year streak of consecutive increases reflects a deliberate long-term capital-allocation strategy that pairs rising dividends with ongoing share repurchases, reinforcing a shareholder-friendly approach to returning cash.

Dividend Sustainability and Payout Ratio

The central question for dividend investors is whether Mondelez can sustain and continue growing its payout. On a trailing earnings basis, the payout ratio has been elevated—above 100% in some recent periods—largely because of sharply higher cocoa costs that compressed reported earnings. However, this metric overstates the strain on the dividend. Based on forward earnings estimates, the payout ratio falls to roughly 60–70%, a much more comfortable level. Free cash flow coverage is stronger still, with the dividend consuming only around half of cash flow by some calculations. The company's diversified global brand portfolio, pricing power, and strong balance sheet provide additional stability. As commodity input costs normalize, earnings coverage is expected to improve, supporting continued modest dividend growth rather than a cut.

Dividend Compared to Industry Peers

Within the packaged-food and confectionery sector, Mondelez's roughly 3.3% yield sits near the middle of the range. Hershey (HSY) typically yields below 3%, while Kraft Heinz (KHC) often yields above 4.5%—though with a much weaker dividend-growth history. General Mills (GIS) offers a comparable yield in the mid-3% range, and PepsiCo (PEP) hovers near 3.2%. What distinguishes Mondelez is the combination of an above-average yield and double-digit dividend growth, a pairing few large food peers can match. While some staples names offer higher current income, few provide Mondelez's blend of yield, growth consistency, and global brand strength.

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Is This Stock Attractive for Dividend Investors?

Mondelez is best suited for long-term dividend growth investors who value consistency and compounding over maximum current income. The company's 13-year streak of increases and roughly 10% five-year growth rate appeal to investors building an income stream that can outpace inflation over time. Its roughly 3.3% yield also offers meaningful current income, making it relevant for more conservative, income-oriented investors who want a stable consumer staples holding. However, investors seeking the very highest yields in the sector may find larger payouts elsewhere, and those prioritizing short-term income should weigh the temporarily elevated trailing payout ratio caused by cocoa-cost headwinds. Overall, Mondelez presents a balanced profile: a moderate yield backed by a durable global brand portfolio, strong free cash flow, and a demonstrated commitment to raising the dividend year after year.

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