Perrigo (PRGO) DIvidends Date & History

Key Takeaways

• Perrigo pays a quarterly dividend of $0.29 per share, or $1.16 on an annualized basis.
• The trailing dividend yield has climbed to roughly 8% to 11%, well above the sector average, driven primarily by a sharp decline in the share price rather than a dividend increase.
• The company has a long track record of raising its payout, including a roughly 5% increase to $0.29 per share in early 2025.
• Recent net losses make the earnings-based payout ratio less meaningful, and free cash flow coverage of the dividend has exceeded 100%, raising sustainability questions.
• The stock is better suited to income-focused investors comfortable with elevated risk than to conservative dividend growth investors.

Dividend Overview

Perrigo Company plc is a global provider of consumer self-care products, and PRGO pays a regular quarterly dividend of $0.29 per share, equal to $1.16 per share annually. Dividends are distributed on a quarterly schedule, and the most recent ex-dividend and payment dates in 2025 followed a predictable March, June, September, and December cadence. On the surface, the stock's trailing yield of roughly 8% to 11% is unusually high and places it among the highest-yielding names in its sector. However, this elevated yield is largely a function of the stock's sharp price decline in 2025, not a surge in the dividend itself. As a result, Perrigo is best characterized not as a classic dividend growth stock or a stable high-yield income stock, but as a company offering an unusually high current yield that carries meaningful questions about the durability of its payout.

Dividend History and Growth

Perrigo has paid a cash dividend for more than two decades, and the company has a strong record of consistent annual increases. The quarterly payout has risen steadily from around $0.105 per share in 2014 to $0.29 per share today, reflecting roughly a decade of incremental hikes. In early 2025, the board raised the dividend from $0.276 to $0.29 per share, a nearly 5% increase, signaling management's stated intent to maintain shareholder distributions even amid operational challenges. Longer term, the dividend has grown at a low-to-mid single-digit annual rate, with a five-year compound growth rate in the neighborhood of 5%. While the payout has not been cut, the recent increases have slowed compared with earlier years, and the rapid expansion in the dividend yield has come almost entirely from share-price weakness.

Dividend Sustainability and Payout Ratio

Sustainability is the central question for PRGO dividend investors. Because Perrigo has reported net losses in several recent periods, the conventional earnings-based payout ratio is not a reliable guide. More telling is free cash flow (cash generated by the business after operating and capital expenses), where dividend coverage has run above 100% in recent figures, meaning the company has been paying out more in dividends than it generates in free cash flow. This is a meaningful caution signal, as a payout that exceeds earnings and free cash flow typically must be funded by borrowing or other sources. Perrigo's elevated debt load and turnaround efforts in its self-care segment add to the uncertainty. Although management has continued to declare and modestly raise the dividend, investors should recognize that the current payout is supported more by management's commitment and balance-sheet capacity than by underlying earnings coverage.

Dividend Compared to Industry Peers

Compared with other consumer self-care and over-the-counter healthcare companies, PRGO's yield stands out dramatically. Large-cap peers in the sector, including diversified consumer health and personal-care names such as KVUE (Kenvue) and HLN (Haleon), generally offer yields in the low single digits, often around 2% to 4%. Perrigo's trailing yield of roughly 8% to 11% is therefore far above the industry norm. This gap is not a sign of superior income quality; it largely reflects the market's reassessment of Perrigo's earnings power and balance-sheet risk, which has compressed the share price. In other words, Perrigo's high yield is closer to a distress signal than a value advantage, and it should be evaluated with that context in mind.

AI Screener

Tickeron's AI Screener is an AI-powered stock and exchange-traded fund (ETF) discovery tool that helps traders and investors filter the market based on technical patterns, fundamentals, trends, volatility, and AI-driven signals. Users can scan thousands of stocks and ETFs using customizable filters such as industry, market capitalization, technical indicators, price patterns, and performance metrics. For income-focused investors, the screener can help surface dividend stocks, identify breakout candidates, and spot emerging market opportunities more efficiently than manual screening. Explore the AI Screener to narrow your search and uncover opportunities that fit your criteria.

Is This Stock Attractive for Dividend Investors?

Perrigo's double-digit yield may appeal to income-seeking investors who prioritize current cash flow and are willing to accept elevated risk in pursuit of a high payout. The long history of dividend increases also holds some appeal for investors who value consistency. However, the sustainability picture is less reassuring: recent net losses, free cash flow coverage above 100%, and an elevated debt profile all suggest the dividend could come under pressure if the company's self-care turnaround does not improve profitability. Conservative investors and traditional dividend growth investors, who typically seek well-covered, steadily compounding payouts backed by growing earnings, may find the current setup less suitable. Ultimately, whether the stock is attractive depends on each investor's tolerance for risk and their confidence in management's ability to restore earnings and free cash flow over time.

Disclaimer

The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.

Disclaimers and Limitations