Current Yield
2.91%
TTM Dividend/Share
$1.18
Payment Frequency
Quarterly
Payout Ratio
38.1%
Consecutive Growth Years
5 (Dividend Challenger)
Key takeaways
- Dividend Challenger — Arrow Financial (AROW) has raised its dividend for 5 consecutive years.
- Arrow Financial (AROW) currently yields 2.91%, paying $1.18 per share over the trailing twelve months, distributed quarterly.
- Payout ratio is 38.1% — the share of earnings distributed as dividends.
- 6 of 8 dividend safety checks passed.
- 5-year dividend CAGR of 2.46%.
Dividend yield valuation for Arrow Financial (AROW)
Current dividend yield vs its own 1Y / 3Y / 5Y historical averages — a rough valuation signal.
Valuation zone | Near average — fair value |
Current yield (now) | 2.91% |
1-year average yield | 3.65%now 0.74 pp below |
3-year average yield | 3.74%now 0.83 pp below |
5-year average yield | 3.41%now 0.50 pp below |
AROW: a yield above its history can signal value (or risk); below can signal a rich price. One valuation signal among many — review fundamentals before investing.
Dividend health for Arrow Financial (AROW)
Cash-flow, leverage and returns metrics that signal whether the dividend is well-covered and sustainable.
Chowder score | 5.4% |
FCF payout ratio | 12.0% |
Net debt / EBITDA | 0.1x |
Interest coverage | 0.85x |
ROIC (TTM) | 24.3% |
Dividend safety score for Arrow Financial (AROW)
Checks covering payout coverage, free-cash-flow support, leverage and dividend-growth durability.
6 of 8 checks passed
Payout ratio below 75%
Payout ratio is 38.1%, well below the 75% threshold.
Free cash flow covers dividend
TTM FCF after dividends is $22M — FCF fully covers the payout.
No dividend cuts in 10+ years
No dividend cuts in the last 10 years.
Positive earnings growth trend
Earnings per share have grown over the past 5 years.
10+ years of consecutive growth
Only 5 consecutive year(s) of dividend growth.
FCF payout ratio below 70%
FCF payout ratio is 12.0%, below the 70% threshold.
Net Debt/EBITDA below 3x
Net Debt/EBITDA is 0.1x.
Dividend growth ≤ earnings growth (5Y)
Dividend growth (2.5%) exceeds EPS growth (1.0%) — payout ratio expanding.
This analysis is for informational purposes only and is not financial advice. Safety scores and comparisons reflect historical data and do not predict future performance.
Per-payment dividend history
162 payments from 1985 to 2026 · Adj. Dividend is split-adjusted
| May 12, 2026 | May 26, 2026 | $0.3000 | $0.3000 |
| Feb 11, 2026 | Feb 25, 2026 | $0.3000 | $0.3000 |
| Nov 12, 2025 | Nov 24, 2025 | $0.2900 | $0.2900 |
| Aug 11, 2025 | Aug 25, 2025 | $0.2900 | $0.2900 |
| May 13, 2025 | May 23, 2025 | $0.2800 | $0.2800 |
| Feb 10, 2025 | Feb 24, 2025 | $0.2800 | $0.2800 |
| Oct 15, 2024 | Oct 29, 2024 | $0.2800 | $0.2800 |
| Aug 12, 2024 | Aug 23, 2024 | $0.2700 | $0.2700 |
| May 10, 2024 | May 24, 2024 | $0.2700 | $0.2700 |
| Feb 9, 2024 | Feb 23, 2024 | $0.2700 | $0.2700 |
| Nov 30, 2023 | Dec 15, 2023 | $0.2700 | $0.2700 |
| Aug 31, 2023 | Sep 15, 2023 | $0.2781 | $0.2700 |
- May 12, 2026$0.3000
- Feb 11, 2026$0.3000
- Nov 12, 2025$0.2900
- Aug 11, 2025$0.2900
- May 13, 2025$0.2800
- Feb 10, 2025$0.2800
- Oct 15, 2024$0.2800
- Aug 12, 2024$0.2700
- May 10, 2024$0.2700
- Feb 9, 2024$0.2700
- Nov 30, 2023$0.2700
- Aug 31, 2023$0.2781
Historical dividend yield for Arrow Financial (AROW)
Mean trailing dividend yield using one ratio snapshot per calendar year.Mean yield1Y: 3.65%5Y: 3.41%10Y: 3.07%
Dividend per share for Arrow Financial (AROW)
CAGR (per year)1Y: 4.59%5Y: 2.46%10Y: 2.68%→ Stable
| Year | Total ($/share) | Payments |
|---|---|---|
| 1985 | $1.42 | 4 |
| 1986 | $1.24 | 4 |
| 1987 | $0.17 | 4 |
| 1988 | $0.18 | 4 |
| 1989 | $0.20 | 4 |
| 1990 | $0.21 | 4 |
| 1991 | $0.12 | 3 |
| 1992 | $0.03 | 1 |
| 1993 | $0.03 | 2 |
| 1994 | $0.13 | 5 |
| 1995 | $0.18 | 4 |
| 1996 | $0.22 | 4 |
| 1997 | $0.28 | 4 |
| 1998 | $0.40 | 5 |
| 1999 | $0.35 | 4 |
| 2000 | $0.39 | 4 |
| 2001 | $0.44 | 4 |
| 2002 | $0.50 | 4 |
| 2003 | $0.56 | 4 |
| 2004 | $0.61 | 4 |
| 2005 | $0.65 | 4 |
| 2006 | $0.68 | 4 |
| 2007 | $0.71 | 4 |
| 2008 | $0.74 | 4 |
| 2009 | $0.76 | 4 |
| 2010 | $0.78 | 4 |
| 2011 | $0.80 | 4 |
| 2012 | $0.82 | 4 |
| 2013 | $0.84 | 4 |
| 2014 | $0.86 | 4 |
| 2015 | $0.88 | 4 |
| 2016 | $0.89 | 4 |
| 2017 | $0.90 | 4 |
| 2018 | $0.94 | 4 |
| 2019 | $0.99 | 4 |
| 2020 | $1.01 | 4 |
| 2021 | $1.01 | 4 |
| 2022 | $1.06 | 4 |
| 2023 | $1.08 | 4 |
| 2024 | $1.09 | 4 |
| 2025 | $1.14 | 4 |
| 2026 | $0.60 | 2 |
Dividend growth for Arrow Financial (AROW)
Year-over-year change in total annual dividend per share (split-adjusted, by ex-dividend year). Green is an increase, red a cut.
Dividend Increase Track Record
Year-over-year change in total annual DPS (dividends per share, split-adjusted), based on ex-dividend date.
| 2026 | $1.1400 | — | — |
| 2025 | $1.0900 | $1.1400 | +4.6% |
| 2024 | $1.0800 | $1.0900 | +0.9% |
| 2023 | $1.0564 | $1.0800 | +2.2% |
| 2022 | $1.0097 | $1.0564 | +4.6% |
| 2021 | $1.0097 | $1.0097 | 0.0% |
| 2020 | $0.9877 | $1.0097 | +2.2% |
| 2019 | $0.9406 | $0.9877 | +5.0% |
| 2018 | $0.8952 | $0.9406 | +5.1% |
| 2017 | $0.8885 | $0.8952 | +0.8% |
| 2016 | $0.8754 | $0.8885 | +1.5% |
| 2015 | $0.8583 | $0.8754 | +2.0% |
| 2014 | $0.8414 | $0.8583 | +2.0% |
| 2013 | $0.8249 | $0.8414 | +2.0% |
| 2012 | $0.8029 | $0.8249 | +2.7% |
| 2011 | $0.7795 | $0.8029 | +3.0% |
| 2010 | $0.7568 | $0.7795 | +3.0% |
| 2009 | $0.7361 | $0.7568 | +2.8% |
| 2008 | $0.7054 | $0.7361 | +4.4% |
| 2007 | $0.6848 | $0.7054 | +3.0% |
| 2006 | $0.6511 | $0.6848 | +5.2% |
| 2005 | $0.6119 | $0.6511 | +6.4% |
| 2004 | $0.5579 | $0.6119 | +9.7% |
| 2003 | $0.5047 | $0.5579 | +10.6% |
| 2002 | $0.4414 | $0.5047 | +14.3% |
| 2001 | $0.3874 | $0.4414 | +13.9% |
| 2000 | $0.3516 | $0.3874 | +10.2% |
| 1999 | $0.3951 | $0.3516 | -11.0% |
| 1998 | $0.2752 | $0.3951 | +43.6% |
| 1997 | $0.2226 | $0.2752 | +23.6% |
| 1996 | $0.1769 | $0.2226 | +25.9% |
| 1995 | $0.1296 | $0.1769 | +36.5% |
| 1994 | $0.0335 | $0.1296 | +286.4% |
| 1993 | $0.0290 | $0.0335 | +15.8% |
| 1992 | $0.1150 | $0.0290 | -74.8% |
| 1991 | $0.2135 | $0.1150 | -46.1% |
| 1990 | $0.1952 | $0.2135 | +9.4% |
| 1989 | $0.1769 | $0.1952 | +10.3% |
| 1988 | $0.1662 | $0.1769 | +6.4% |
| 1987 | $1.2420 | $0.1662 | -86.6% |
| 1986 | $1.4203 | $1.2420 | -12.6% |
| 1985 | — | $1.4203 | — |
- 2026—
- 2025$1.1400
- 2024$1.0900
- 2023$1.0800
- 2022$1.0564
- 2021$1.0097
- 2020$1.0097
- 2019$0.9877
- 2018$0.9406
- 2017$0.8952
- 2016$0.8885
- 2015$0.8754
- 2014$0.8583
- 2013$0.8414
- 2012$0.8249
- 2011$0.8029
- 2010$0.7795
- 2009$0.7568
- 2008$0.7361
- 2007$0.7054
- 2006$0.6848
- 2005$0.6511
- 2004$0.6119
- 2003$0.5579
- 2002$0.5047
- 2001$0.4414
- 2000$0.3874
- 1999$0.3516
- 1998$0.3951
- 1997$0.2752
- 1996$0.2226
- 1995$0.1769
- 1994$0.1296
- 1993$0.0335
- 1992$0.0290
- 1991$0.1150
- 1990$0.2135
- 1989$0.1952
- 1988$0.1769
- 1987$0.1662
- 1986$1.2420
- 1985$1.4203
DPS sums split-adjusted amounts (adj. dividend) by ex-dividend calendar year—the same basis as the Adj. Dividend column in Dividend Payment History. The Dividend column can differ after stock splits. This table uses four decimals per annual total so the Change column matches the shown amounts; each payment row in Dividend Payment History also uses four.
Frequently asked questions
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