Black Hills (BKH) Dividend History & Yield
Dividend ChampionBlack Hills (BKH) has increased its dividend for 41 consecutive years and currently yields 3.71%. The most recent dividend was $0.7030/share on Mar 1, 2026, paid Quarterly.
BKH
Current Yield
3.71%
TTM Dividend/Share
$2.76
Payment Frequency
Quarterly
Payout Ratio
71.8%
Consecutive Growth Years
41 (Dividend Champion)
Div Growth (1Y CAGR)
4.00%
Div Growth (5Y CAGR)
4.50%
Div Growth (10Y CAGR)
5.26%
BKH: compare the "Now" marker to the 1Y / 3Y / 5Y averages on the scale. One valuation signal among many — review fundamentals before investing.
Dividend health
Chowder score
8.2%
FCF payout ratio
64.9%
Net debt / EBITDA
5.6x
Interest coverage
2.57x
ROIC (TTM)
5.6%
Dividend Safety Score
6 out of 8 checks passed
Payout ratio below 75%
Payout ratio is 71.8%, well below the 75% threshold.
Free cash flow covers dividend
FCF/share ($-2.01) does not fully cover dividend/share ($2.76).
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
41 consecutive years of dividend growth.
FCF payout ratio below 70%
FCF payout ratio is 64.9%, below the 70% threshold.
Net Debt/EBITDA below 3x
Net Debt/EBITDA is 5.6x.
Dividend growth ≤ earnings growth (5Y)
Dividend growth (4.5%) ≤ EPS growth (36.2%) — sustainable.
Per-payment dividend history
Ex-date May 15, 2026
- Payment date
- Jun 1, 2026
- Dividend
- $0.7030
- Adj. dividend
- $0.7030
Ex-date Feb 17, 2026
- Payment date
- Mar 1, 2026
- Dividend
- $0.7030
- Adj. dividend
- $0.7030
Ex-date Nov 17, 2025
- Payment date
- Dec 1, 2025
- Dividend
- $0.6760
- Adj. dividend
- $0.6760
Ex-date Aug 18, 2025
- Payment date
- Sep 2, 2025
- Dividend
- $0.6760
- Adj. dividend
- $0.6760
Ex-date May 16, 2025
- Payment date
- Jun 1, 2025
- Dividend
- $0.6760
- Adj. dividend
- $0.6760
Ex-date Feb 18, 2025
- Payment date
- Mar 1, 2025
- Dividend
- $0.6760
- Adj. dividend
- $0.6760
Ex-date Nov 18, 2024
- Payment date
- Dec 1, 2024
- Dividend
- $0.6500
- Adj. dividend
- $0.6500
Ex-date Aug 19, 2024
- Payment date
- Sep 1, 2024
- Dividend
- $0.6500
- Adj. dividend
- $0.6500
Ex-date May 16, 2024
- Payment date
- Jun 1, 2024
- Dividend
- $0.6500
- Adj. dividend
- $0.6500
Ex-date Feb 15, 2024
- Payment date
- Mar 1, 2024
- Dividend
- $0.6500
- Adj. dividend
- $0.6500
Ex-date Nov 16, 2023
- Payment date
- Dec 1, 2023
- Dividend
- $0.6250
- Adj. dividend
- $0.6250
Ex-date Aug 17, 2023
- Payment date
- Sep 1, 2023
- Dividend
- $0.6250
- Adj. dividend
- $0.6250
| Ex-Date | Payment Date | Dividend | Adj. Dividend |
|---|---|---|---|
| May 15, 2026 | Jun 1, 2026 | $0.7030 | $0.7030 |
| Feb 17, 2026 | Mar 1, 2026 | $0.7030 | $0.7030 |
| Nov 17, 2025 | Dec 1, 2025 | $0.6760 | $0.6760 |
| Aug 18, 2025 | Sep 2, 2025 | $0.6760 | $0.6760 |
| May 16, 2025 | Jun 1, 2025 | $0.6760 | $0.6760 |
| Feb 18, 2025 | Mar 1, 2025 | $0.6760 | $0.6760 |
| Nov 18, 2024 | Dec 1, 2024 | $0.6500 | $0.6500 |
| Aug 19, 2024 | Sep 1, 2024 | $0.6500 | $0.6500 |
| May 16, 2024 | Jun 1, 2024 | $0.6500 | $0.6500 |
| Feb 15, 2024 | Mar 1, 2024 | $0.6500 | $0.6500 |
| Nov 16, 2023 | Dec 1, 2023 | $0.6250 | $0.6250 |
| Aug 17, 2023 | Sep 1, 2023 | $0.6250 | $0.6250 |
Historical Dividend Yield
Dividend Growth
Dividend Increase Track Record
Black Hills has raised its total annual dividend (split-adjusted, by ex-dividend calendar year) versus the prior year for 41 consecutive years — the same figure as the "Consecutive Growth Years" card above.
| Year | Previous DPS | New DPS | Change |
|---|---|---|---|
| 2026 | $2.7040 | — | — |
| 2025 | $2.6000 | $2.7040 | +4.0% |
| 2024 | $2.5000 | $2.6000 | +4.0% |
| 2023 | $2.4100 | $2.5000 | +3.7% |
| 2022 | $2.2900 | $2.4100 | +5.2% |
| 2021 | $2.1700 | $2.2900 | +5.5% |
| 2020 | $2.0500 | $2.1700 | +5.9% |
| 2019 | $1.9300 | $2.0500 | +6.2% |
| 2018 | $1.8100 | $1.9300 | +6.6% |
| 2017 | $1.6800 | $1.8100 | +7.7% |
| 2016 | $1.6200 | $1.6800 | +3.7% |
| 2015 | $1.5600 | $1.6200 | +3.8% |
| 2014 | $1.5200 | $1.5600 | +2.6% |
| 2013 | $1.4800 | $1.5200 | +2.7% |
| 2012 | $1.4600 | $1.4800 | +1.4% |
| 2011 | $1.4400 | $1.4600 | +1.4% |
| 2010 | $1.4200 | $1.4400 | +1.4% |
| 2009 | $1.4000 | $1.4200 | +1.4% |
| 2008 | $1.3700 | $1.4000 | +2.2% |
| 2007 | $1.3200 | $1.3700 | +3.8% |
| 2006 | $1.2800 | $1.3200 | +3.1% |
| 2005 | $1.2400 | $1.2800 | +3.2% |
| 2004 | $1.2000 | $1.2400 | +3.3% |
| 2003 | $1.1600 | $1.2000 | +3.4% |
| 2002 | $1.1200 | $1.1600 | +3.6% |
| 2001 | $1.0800 | $1.1200 | +3.7% |
| 2000 | $1.0400 | $1.0800 | +3.8% |
| 1999 | $1.0000 | $1.0400 | +4.0% |
| 1998 | $0.9467 | $1.0000 | +5.6% |
| 1997 | $0.9200 | $0.9467 | +2.9% |
| 1996 | $0.8933 | $0.9200 | +3.0% |
| 1995 | $0.8800 | $0.8933 | +1.5% |
| 1994 | $0.8533 | $0.8800 | +3.1% |
| 1993 | $0.8267 | $0.8533 | +3.2% |
| 1992 | $0.7822 | $0.8267 | +5.7% |
| 1991 | $0.7289 | $0.7822 | +7.3% |
| 1990 | $0.6756 | $0.7289 | +7.9% |
| 1989 | $0.6222 | $0.6756 | +8.6% |
| 1988 | $0.5511 | $0.6222 | +12.9% |
| 1987 | $0.5067 | $0.5511 | +8.8% |
| 1986 | $0.4270 | $0.5067 | +18.7% |
| 1985 | — | $0.4270 | — |
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.
Cash dividends paid (USD) — TTM and history
Trailing-twelve-month and annual common dividends paid for Black Hills (BKH) from the consolidated cash flow statement, in USD as filed.
Latest period
$202.40M
YoY change
+8.6%
5Y CAGR
+7.9%
Peak year (2025)
$197.90M
Latest annual
$197.90M
Cash dividends paid over time for Black Hills (BKH)
Per-period cash dividends paid
Cash dividends paid annual + quarterly history for Black Hills (BKH)
| Fiscal year | Period ended | Reported | Dividends Paid | YoY | YoY change |
|---|---|---|---|---|---|
| 2025 | $197.90M | +8.6% | +$15.60M | ||
| 2024 | $182.30M | +8.4% | +$14.20M | ||
| 2023 | $168.10M | +7.3% | +$11.40M | ||
| 2022 | $156.70M | +8.1% | +$11.70M | ||
| 2021 | $145.00M | +7.1% | +$9.56M | ||
| 2020 | $135.44M | +8.7% | +$10.79M | ||
| 2019 | $124.65M | +16.9% | +$18.06M | ||
| 2018 | $106.59M | +10.2% | +$9.85M | ||
| 2017 | $96.74M | +10.5% | +$9.17M | ||
| 2016 | $87.57M | +20.6% | +$14.97M | ||
| 2015 | $72.60M | +4.3% | +$2.97M | ||
| 2014 | $69.64M | +3.0% | +$2.05M | ||
| 2013 | $67.59M | +3.6% | +$2.33M | ||
| 2012 | $65.26M | +10.2% | +$6.06M | ||
| 2011 | $59.20M | +4.8% | +$2.73M | ||
| 2010 | $56.47M | +2.4% | +$1.32M | ||
| 2009 | $55.15M | +2.8% | +$1.49M | ||
| 2008 | $53.66M | +6.7% | +$3.36M | ||
| 2007 | $50.30M | +14.4% | +$6.34M | ||
| 2006 | $43.96M | +4.5% | +$1.91M | ||
| 2005 | $42.05M | +4.6% | +$1.84M | ||
| 2004 | $40.21M | +8.6% | +$3.19M | ||
| 2003 | $37.02M | +19.0% | +$5.91M | ||
| 2002 | $31.12M | +2041.5% | +$29.66M | ||
| 2001 | $1.45M | -95.8% | -$32.97M | ||
| 2000 | $34.43M | +52.3% | +$11.83M | ||
| 1999 | $22.60M | +4.1% | +$900,000 | ||
| 1998 | $21.70M | +5.9% | +$1.20M | ||
| 1997 | $20.50M | +3.0% | +$600,000 | ||
| 1996 | $19.90M | +3.1% | +$600,000 | ||
| 1995 | $19.30M | +2.1% | +$400,000 | ||
| 1994 | $18.90M | — | — |
2025's annual dividends paid for Black Hills (BKH) came in at $197.90M – grew 8.6% year-over-year.
Through 2020–2025 (5 years), Black Hills dividends paid delivered a +7.9% annualised rate; sustaining 24 straight years of year-over-year growth.
The dataset's maximum dividends paid sits at $197.90M (2025); the minimum reading of $1.45M dates to 2001.
Among 8 Utilities peers, Black Hills (BKH) ranks 9th; the peer median for dividends paid is $2.14B.
Black Hills Dividends Paid 2025: $197.90M
Black Hills dividends paid in 2025 was $197.90M, grew 8.6% from 2024. This figure represents the highest annual value in the available history.
Black Hills Dividends Paid 2024: $182.30M
Black Hills dividends paid in 2024 was $182.30M, grew 8.4% from 2023.
Black Hills Dividends Paid 2023: $168.10M
Black Hills dividends paid in 2023 was $168.10M, grew 7.3% from 2022.
Black Hills Dividends Paid 2022: $156.70M
Black Hills dividends paid in 2022 was $156.70M, grew 8.1% from 2021.
Black Hills Dividends Paid 2021: $145.00M
Black Hills dividends paid in 2021 was $145.00M.
See more financial history for Black Hills (BKH).
Sector peers by dividends paid
Companies in the same sector as Black Hills, ranked by their latest dividends paid.
| Company | Dividends Paid | Sector |
|---|---|---|
| NextEra Energy (NEE) | $4.68B | Utilities |
| Duke Energy (DUK) | $3.30B | Utilities |
| Southern Company (SO) | $3.02B | Utilities |
| Dominion Energy (D) | $2.28B | Utilities |
| American Electric Power Company (AEP) | $2.01B | Utilities |
| Sempra (SRE) | $1.60B | Utilities |
| Constellation Energy (CEG) | $486.00M | Utilities |
| GE Vernova (GEV) | $275.00M | Utilities |
Frequently asked questions
Does Black Hills pay dividends?
Yes, Black Hills (BKH) pays quarterly dividends of approximately $2.76 per share annually, yielding 3.71%.
What is Black Hills's dividend yield?
Black Hills (BKH) has a current dividend yield of 3.71%.
Is Black Hills's dividend safe?
Black Hills (BKH) passes 6 out of 8 dividend safety checks. See the detailed breakdown above for each criterion.
How many consecutive years has Black Hills increased its dividend?
Black Hills (BKH) has 41 consecutive years of dividend increases.
What is Black Hills's dividend payout ratio?
Black Hills (BKH) has a dividend payout ratio of 71.8%. Trailing twelve months (GAAP): adjusted dividends over roughly 12 months aligned with the latest reported quarter, divided by the sum of diluted EPS from the last four fiscal quarters (not NII or taxable income for BDCs/REITs).
What is Black Hills's dividends paid?
Latest reported dividends paid for Black Hills (BKH) is $202.40M (period ending March 31, 2026).
How has Black Hills dividends paid changed year-over-year?
Black Hills (BKH) dividends paid changed +8.6% year-over-year on the latest annual filing.
What is the long-term growth rate of Black Hills dividends paid?
Black Hills (BKH) dividends paid compound annual growth rate is +7.9% over the most recent 5 years available.
When did Black Hills dividends paid hit its highest annual value?
Black Hills dividends paid reached its highest annual value of $197.90M in 2025.
What was Black Hills dividends paid in 2024?
Black Hills (BKH) dividends paid in 2024 was $182.30M.
What was Black Hills dividends paid in 2025?
Black Hills (BKH) dividends paid in 2025 was $197.90M.
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