SLB (SLB) DIvidends Date & History

Key Takeaways

• SLB offers a forward dividend yield of 2.16% with a quarterly payout of $0.295 per share.
• Payout ratio stands at 48.5%, well-covered by earnings and free cash flow.
• Quarterly dividends paid consistently since 1957, with recent annual increases of 3-4%.
• 2025 free cash flow of $4.1 billion provides ample coverage for dividends.
• Yield exceeds peers like HAL (1.7%) and BKR (1.5%).
• Modest but sustainable profile suits energy sector investors.

Dividend Overview

Schlumberger Limited (SLB), a leading global technology company in the energy industry, maintains a quarterly dividend policy with payments in U.S. currency since 1957. The current quarterly dividend is $0.295 per share, announced on January 22, 2026, with an ex-dividend date of February 11, 2026, and payment date of April 2, 2026. This translates to a forward annual dividend of $1.18 and a yield of 2.16% based on recent share prices around $56. The trailing annual dividend is $1.14, yielding 2.08%.

SLB's dividend profile is modest compared to high-yield sectors but positions it as a dividend growth contender within oilfield services. The 5-year average yield is 2.03%, reflecting steady income potential amid cyclical energy markets. Investors value its balance of yield and reinvestment in digital and offshore technologies.

Dividend History and Growth

SLB has a long tradition of quarterly dividends, starting at $0.09375 per share in the early 2000s and peaking at $0.50 quarterly (annual $2.00) from 2015 to 2019. The COVID-19 downturn prompted a 75% cut to $0.125 quarterly in 2020, followed by gradual recovery: $0.175 in 2022 (annual $0.65), $0.25 in 2023 ($1.00), $0.275 in 2024 ($1.10), $0.285 in 2025 ($1.14), and $0.295 in 2026. This marks six consecutive years of increases post-cut, with recent growth rates of 3-4% annually.

The strategy emphasizes resilience, balancing shareholder returns with capital for growth in high-margin areas like digital integration and production systems.

Dividend Sustainability and Payout Ratio

SLB's dividend appears highly sustainable, with a payout ratio of 48.5% leaving room for growth and reinvestment. Earnings comfortably cover the dividend, and 2025 free cash flow (FCF) reached $4.1 billion, far exceeding the approximately $1.3 billion annual dividend obligation (based on 4.4 billion shares outstanding).

Debt levels are manageable, with a net debt-to-equity ratio around 0.28 and total debt-to-equity at 0.36-0.43. Strong operational cash flow of $6.5 billion in 2025 underscores financial stability, even in volatile oil prices. These metrics suggest robust coverage and low risk of near-term cuts.

Dividend Compared to Industry Peers

In the oilfield services sector, SLB's 2.16% forward yield outpaces key peers. Halliburton (HAL) offers 1.72% with a $0.17 quarterly dividend and 37-45% payout ratio. Baker Hughes (BKR) yields 1.5% on a $0.23 quarterly payout and 35% payout ratio. SLB's higher yield and similar growth trajectory make it more attractive for income, while all three maintain conservative payouts amid energy cycles.

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Is This Stock Attractive for Dividend Investors?

SLB may appeal to dividend investors seeking moderate yield with growth potential in the energy sector. Income-focused investors could value the 2.16% yield and quarterly payments, higher than peers, supported by strong FCF coverage. Those prioritizing dividend growth might note the recent six-year streak of increases post-2020 recovery, though historical cuts highlight cyclical risks.

Long-term holders tolerant of oil price volatility may find SLB suitable due to its technological edge and financial health. Conservative investors might prefer its sub-50% payout ratio and low debt, signaling sustainability. However, high-yield seekers may look elsewhere, as SLB balances returns with reinvestment. Overall, it fits portfolios blending income stability and sector upside without excessive risk.

Disclaimer

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