Intel (INTC) DIvidends Date & History

Key Takeaways

• Intel suspended its quarterly dividend starting Q4 2024 to prioritize liquidity and investments in manufacturing.
• Trailing 12-month dividend yield stands at 0.00%, with no future dividends declared as of May 2026.
• Last payment was $0.125 per share on September 1, 2024; prior 66% cut in 2023 from $0.365.
• Payout ratio is 0.00%, reflecting no distributions amid negative free cash flow and losses.
• Semiconductor peers like QCOM (2.1%) and TXN (2.0%) offer yields; AMD and NVDA pay none.
• Reinstatement possible with improved cash flows from AI and foundry strategy, but uncertain timeline.

Dividend Overview

Intel Corporation (INTC), a leading semiconductor manufacturer, has suspended its dividend payments. The company paid quarterly dividends of $0.125 per share through Q3 2024, with the final payment on September 1, 2024 (ex-date August 7, 2024). Prior to that, Intel cut its dividend by 66% in February 2023 from $0.365 to $0.125 per share to conserve cash. As of May 2026, the trailing annual dividend yield is 0.00%, and no future dividends are declared. The 5-year average yield was approximately 2.69%. Intel's policy states that dividends are at the board's discretion, prioritizing balance sheet strength amid heavy investments in foundry operations and AI chips. This positions Intel outside traditional dividend categories, focusing instead on growth reinvestment rather than shareholder payouts.

Dividend History and Growth

Intel initiated dividends in 1992 and raised them annually for decades, earning a reputation as a dividend growth stock with steady quarterly payments. Historical payouts grew from $1.0775 annually in 2017 to peaks around $1.46 in 2022. However, pressures from competition and manufacturing investments led to a 66% cut in Q1 2023 to $0.125 per share, maintained through Q3 2024. In August 2024, Intel suspended dividends starting Q4 to support a $10 billion cost-reduction plan, including 15% workforce cuts. No growth streak remains active, and payments have ceased, reflecting a shift from income focus to strategic capital allocation.

Dividend Sustainability and Payout Ratio

With no current dividend, sustainability is not applicable, but prior metrics highlight challenges. The payout ratio is 0.00%, down from 25-45% historically. Intel reported negative earnings per share (EPS) of -$0.59 (TTM) and free cash flow (FCF) of -$15.7 billion in 2024, worsening to -$4.9 billion in 2025, driven by high capital expenditures (capex) on foundries. Debt levels are elevated, and interest coverage is weak at -1.75x. Suspension preserves cash for deleveraging and turnaround, but resumption depends on profitability from Intel Foundry Services (IFS) and AI products. Financial stability hinges on executing cost cuts and revenue growth amid losses.

Dividend Compared to Industry Peers

In the semiconductor sector, Intel's 0.00% yield trails payers like QCOM (2.1%), TXN (2.0%), TSM (0.8-1.0%), and AVGO (0.6-0.7%). Non-payers like AMD (0.00%) and NVDA (0.02%) prioritize growth, aligning with Intel's profile. The industry average yield is low at around 0.76%, reflecting reinvestment in AI and tech amid high growth prospects. Intel's suspension matches growth-oriented peers but lags mature dividend payers like TXN.

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Is This Stock Attractive for Dividend Investors?

Intel (INTC) currently offers no appeal to traditional dividend investors seeking yield or income, given the 0.00% payout and suspension since Q4 2024. Income-focused or conservative investors prioritizing steady cash returns may avoid it, as peers like QCOM and TXN provide 2%+ yields with better coverage. However, speculative dividend growth investors might monitor for reinstatement, tied to Intel's foundry ramp-up and AI gains. Long-term growth-oriented holders could tolerate the absence if turnaround succeeds, boosting FCF for future payouts. Risks include ongoing losses, competition from AMD and NVDA, and uncertain timing—potentially years away. Balanced portfolios might allocate modestly for capital appreciation potential over income.

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