Current Yield
2.60%
TTM Dividend/Share
$4.03
Payment Frequency
Quarterly
Payout Ratio
39.2%
Consecutive Growth Years
33 (Dividend Champion)
Key takeaways
- Dividend Champion — Cullen/Frost Bankers (CFR) has raised its dividend for 33 consecutive years.
- Cullen/Frost Bankers (CFR) currently yields 2.60%, paying $4.03 per share over the trailing twelve months, distributed quarterly.
- Payout ratio is 39.2% — the share of earnings distributed as dividends.
- 7 of 8 dividend safety checks passed.
- 5-year dividend CAGR of 6.75%.
Dividend yield valuation for Cullen/Frost Bankers (CFR)
Current dividend yield vs its own 1Y / 3Y / 5Y historical averages — a rough valuation signal.
Valuation zone | Near average — fair value |
Current yield (now) | 2.60% |
1-year average yield | 3.23%now 0.63 pp below |
3-year average yield | 3.18%now 0.58 pp below |
5-year average yield | 2.90%now 0.30 pp below |
CFR: 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 Cullen/Frost Bankers (CFR)
Cash-flow, leverage and returns metrics that signal whether the dividend is well-covered and sustainable.
Chowder score | 9.3% |
FCF payout ratio | 8.6% |
Net debt / EBITDA | 4.5x |
Interest coverage | 1.21x |
ROIC (TTM) | 13.3% |
Dividend safety score for Cullen/Frost Bankers (CFR)
Checks covering payout coverage, free-cash-flow support, leverage and dividend-growth durability.
7 of 8 checks passed
Payout ratio below 75%
Payout ratio is 39.2%, well below the 75% threshold.
Free cash flow covers dividend
TTM FCF after dividends is $510M — 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
33 consecutive years of dividend growth.
FCF payout ratio below 70%
FCF payout ratio is 8.6%, below the 70% threshold.
Net Debt/EBITDA below 3x
Net Debt/EBITDA is 4.5x.
Dividend growth ≤ earnings growth (5Y)
Dividend growth (6.7%) ≤ EPS growth (10.8%) — sustainable.
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
142 payments from 1984 to 2026 · Adj. Dividend is split-adjusted
| May 29, 2026 | Jun 15, 2026 | $1.0300 | $1.0300 |
| Feb 27, 2026 | Mar 13, 2026 | $1.0000 | $1.0000 |
| Nov 28, 2025 | Dec 15, 2025 | $1.0000 | $1.0000 |
| Aug 29, 2025 | Sep 15, 2025 | $1.0000 | $1.0000 |
| May 30, 2025 | Jun 13, 2025 | $1.0000 | $1.0000 |
| Feb 28, 2025 | Mar 14, 2025 | $0.9500 | $0.9500 |
| Nov 29, 2024 | Dec 13, 2024 | $0.9500 | $0.9500 |
| Aug 30, 2024 | Sep 13, 2024 | $0.9500 | $0.9500 |
| May 31, 2024 | Jun 14, 2024 | $0.9200 | $0.9200 |
| Feb 28, 2024 | Mar 15, 2024 | $0.9200 | $0.9200 |
| Nov 29, 2023 | Dec 15, 2023 | $0.9200 | $0.9200 |
| Aug 30, 2023 | Sep 15, 2023 | $0.9200 | $0.9200 |
- May 29, 2026$1.0300
- Feb 27, 2026$1.0000
- Nov 28, 2025$1.0000
- Aug 29, 2025$1.0000
- May 30, 2025$1.0000
- Feb 28, 2025$0.9500
- Nov 29, 2024$0.9500
- Aug 30, 2024$0.9500
- May 31, 2024$0.9200
- Feb 28, 2024$0.9200
- Nov 29, 2023$0.9200
- Aug 30, 2023$0.9200
Historical dividend yield for Cullen/Frost Bankers (CFR)
Mean trailing dividend yield using one ratio snapshot per calendar year.Mean yield1Y: 3.23%5Y: 2.90%10Y: 2.91%
Dividend per share for Cullen/Frost Bankers (CFR)
CAGR (per year)1Y: 5.61%5Y: 6.75%10Y: 6.52%→ Stable
| Year | Total ($/share) | Payments |
|---|---|---|
| 1984 | $0.47 | 2 |
| 1985 | $0.85 | 4 |
| 1986 | $0.35 | 4 |
| 1987 | $0.05 | 1 |
| 1993 | $0.15 | 1 |
| 1994 | $0.17 | 4 |
| 1995 | $0.28 | 4 |
| 1996 | $0.40 | 4 |
| 1997 | $0.48 | 4 |
| 1998 | $0.57 | 4 |
| 1999 | $0.68 | 4 |
| 2000 | $0.76 | 4 |
| 2001 | $0.84 | 4 |
| 2002 | $0.88 | 4 |
| 2003 | $0.94 | 4 |
| 2004 | $1.03 | 4 |
| 2005 | $1.17 | 4 |
| 2006 | $1.32 | 4 |
| 2007 | $1.54 | 4 |
| 2008 | $1.66 | 4 |
| 2009 | $1.71 | 4 |
| 2010 | $1.78 | 4 |
| 2011 | $1.83 | 4 |
| 2012 | $1.90 | 4 |
| 2013 | $1.98 | 4 |
| 2014 | $2.03 | 4 |
| 2015 | $2.10 | 4 |
| 2016 | $2.15 | 4 |
| 2017 | $2.25 | 4 |
| 2018 | $2.58 | 4 |
| 2019 | $2.80 | 4 |
| 2020 | $2.85 | 4 |
| 2021 | $2.94 | 4 |
| 2022 | $3.24 | 4 |
| 2023 | $3.58 | 4 |
| 2024 | $3.74 | 4 |
| 2025 | $3.95 | 4 |
| 2026 | $2.03 | 2 |
Dividend growth for Cullen/Frost Bankers (CFR)
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 | $3.9500 | — | — |
| 2025 | $3.7400 | $3.9500 | +5.6% |
| 2024 | $3.5800 | $3.7400 | +4.5% |
| 2023 | $3.2400 | $3.5800 | +10.5% |
| 2022 | $2.9400 | $3.2400 | +10.2% |
| 2021 | $2.8500 | $2.9400 | +3.2% |
| 2020 | $2.8000 | $2.8500 | +1.8% |
| 2019 | $2.5800 | $2.8000 | +8.5% |
| 2018 | $2.2500 | $2.5800 | +14.7% |
| 2017 | $2.1500 | $2.2500 | +4.7% |
| 2016 | $2.1000 | $2.1500 | +2.4% |
| 2015 | $2.0300 | $2.1000 | +3.4% |
| 2014 | $1.9800 | $2.0300 | +2.5% |
| 2013 | $1.9000 | $1.9800 | +4.2% |
| 2012 | $1.8300 | $1.9000 | +3.8% |
| 2011 | $1.7800 | $1.8300 | +2.8% |
| 2010 | $1.7100 | $1.7800 | +4.1% |
| 2009 | $1.6600 | $1.7100 | +3.0% |
| 2008 | $1.5400 | $1.6600 | +7.8% |
| 2007 | $1.3200 | $1.5400 | +16.7% |
| 2006 | $1.1650 | $1.3200 | +13.3% |
| 2005 | $1.0350 | $1.1650 | +12.6% |
| 2004 | $0.9400 | $1.0350 | +10.1% |
| 2003 | $0.8750 | $0.9400 | +7.4% |
| 2002 | $0.8400 | $0.8750 | +4.2% |
| 2001 | $0.7600 | $0.8400 | +10.5% |
| 2000 | $0.6750 | $0.7600 | +12.6% |
| 1999 | $0.5750 | $0.6750 | +17.4% |
| 1998 | $0.4800 | $0.5750 | +19.8% |
| 1997 | $0.4025 | $0.4800 | +19.3% |
| 1996 | $0.2850 | $0.4025 | +41.2% |
| 1995 | $0.1675 | $0.2850 | +70.1% |
| 1994 | $0.1500 | $0.1675 | +11.7% |
| 1993 | $0.0456 | $0.1500 | +228.9% |
| 1987 | $0.3504 | $0.0456 | -87.0% |
| 1986 | $0.8544 | $0.3504 | -59.0% |
| 1985 | — | $0.8544 | — |
- 2026—
- 2025$3.9500
- 2024$3.7400
- 2023$3.5800
- 2022$3.2400
- 2021$2.9400
- 2020$2.8500
- 2019$2.8000
- 2018$2.5800
- 2017$2.2500
- 2016$2.1500
- 2015$2.1000
- 2014$2.0300
- 2013$1.9800
- 2012$1.9000
- 2011$1.8300
- 2010$1.7800
- 2009$1.7100
- 2008$1.6600
- 2007$1.5400
- 2006$1.3200
- 2005$1.1650
- 2004$1.0350
- 2003$0.9400
- 2002$0.8750
- 2001$0.8400
- 2000$0.7600
- 1999$0.6750
- 1998$0.5750
- 1997$0.4800
- 1996$0.4025
- 1995$0.2850
- 1994$0.1675
- 1993$0.1500
- 1987$0.0456
- 1986$0.3504
- 1985$0.8544
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
Cullen/Frost Bankers (CFR) Key Financials
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