WEC Payout Ratio: current value, 10-year range and year-by-year history
Cash & Leverage
Payout Ratio History
WEC Payout Ratio by year
Yearly range of WEC’s payout ratio from 2016 to 2025. Over the full period it ranged from 92.2% to 16,858.8%, averaging 968.8%.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2025 | 229.3% | 475.6% | 721.8% | 721.8% |
| 2024 | 154.8% | 205.4% | 252.4% | 246.2% |
| 2023 | 187.5% | 367.9% | 548.2% | 187.5% |
| 2022 | 159.1% | 228.8% | 298.6% | 298.6% |
| 2021 | 16,858.8% | 16,858.8% | 16,858.8% | 16,858.8% |
| 2020 | 910.2% | 910.2% | 910.2% | 910.2% |
| 2019 | 282.1% | 529.1% | 882.4% | 882.4% |
| 2018 | 212.4% | 298.3% | 353.1% | 212.4% |
| 2017 | 93.4% | 231.1% | 549.4% | 549.4% |
| 2016 | 92.2% | 109.8% | 127.3% | 92.2% |
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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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