DX Payout Ratio: current value, 10-year range and year-by-year history
Cash & Leverage
Payout Ratio History
DX Payout Ratio by year
Yearly range of DX’s payout ratio from 2016 to 2026. Over the full period it ranged from 15.2% to 823.2%, averaging 126.2%.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 192.8% | 207.1% | 221.5% | 192.8% |
| 2025 | 216.1% | 318.4% | 401.6% | 257.6% |
| 2024 | 225.2% | 542.1% | 823.2% | 823.2% |
| 2023 | 87.9% | 109.4% | 143.7% | 143.7% |
| 2022 | 38.3% | 48.0% | 59.9% | 59.9% |
| 2021 | 26.8% | 33.3% | 39.0% | 39.0% |
| 2020 | 21.7% | 23.1% | 24.6% | 22.2% |
| 2019 | 26.3% | 34.5% | 38.9% | 26.3% |
| 2018 | 20.2% | 21.9% | 24.3% | 24.3% |
| 2017 | 15.2% | 18.0% | 19.2% | 18.8% |
| 2016 | 19.6% | 20.2% | 20.9% | 19.6% |
Get notified when DX Payout Ratio crosses a threshold
Free — one alert setup, notifications by push, Telegram, or Discord.
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.
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.