CCI Payout Ratio: current value, 10-year range and year-by-year history
Cash & Leverage
Payout Ratio History
CCI Payout Ratio by year
Yearly range of CCI’s payout ratio from 2016 to 2026. Over the full period it ranged from 68.1% to 324.3%, averaging 173.4%.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 68.1% | 72.4% | 76.7% | 76.7% |
| 2025 | 72.2% | 99.3% | 133.6% | 72.2% |
| 2024 | 157.9% | 169.1% | 192.4% | 157.9% |
| 2023 | 147.0% | 160.4% | 169.3% | 159.6% |
| 2022 | 162.8% | 166.0% | 168.6% | 165.4% |
| 2021 | 135.8% | 144.1% | 158.2% | 158.2% |
| 2020 | 149.2% | 194.4% | 238.5% | 149.2% |
| 2019 | 255.1% | 291.5% | 324.3% | 298.3% |
| 2018 | 215.0% | 225.4% | 234.3% | 234.3% |
| 2017 | 156.6% | 181.3% | 195.0% | 195.0% |
| 2016 | 127.3% | 133.7% | 140.0% | 140.0% |
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What fraction of free cash flow is paid out as dividends. More reliable than the earnings-based payout ratio because cash is harder to manipulate through accounting choices. Low ratio = room to grow the dividend and absorb an earnings dip. High ratio = dividend is consuming most of the cash generated.
TTM Dividends Per Share / (TTM FCF ÷ Shares) × 100%A steadily rising FCF payout ratio warrants scrutiny only if FCF itself is flat or falling — that means the company is paying out a larger slice of shrinking cash. A high but stable ratio in a capital-light business (e.g. consumer staples) can be perfectly sustainable.
- FCF can be lumpy: large one-off capex or working-capital swings distort a single year. Look at the multi-year trend rather than any single data point.
- Utilities and REITs naturally sustain 60–90% FCF payout ratios; industrials and tech companies typically run 20–50%. Always compare to sector context.
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