Merck & Co. (MRK) Dividend History & Yield
Dividend ContenderMerck & Co. (MRK) has increased its dividend for 16 consecutive years and currently yields 2.94%. The most recent dividend was $0.8500/share on Apr 7, 2026, paid Quarterly.
MRK
Current Yield
2.94%
TTM Dividend/Share
$3.32
Payment Frequency
Quarterly
Payout Ratio
93.5%
Consecutive Growth Years
16 (Dividend Contender)
Div Growth (1Y CAGR)
5.13%
Div Growth (5Y CAGR)
6.75%
Div Growth (10Y CAGR)
6.62%
MRK: 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
9.7%
FCF payout ratio
14.9%
Net debt / EBITDA
1.9x
Interest coverage
17.35x
ROIC (TTM)
10.4%
Dividend Safety Score
5 out of 8 checks passed
Payout ratio below 75%
Payout ratio is 93.5%, above the 75% threshold.
Free cash flow covers dividend
FCF/share ($4.94) covers dividend/share ($3.32).
No dividend cuts in 10+ years
No dividend cuts in the last 10 years.
Positive earnings growth trend
Earnings per share have declined over the past 5 years.
10+ years of consecutive growth
16 consecutive years of dividend growth.
FCF payout ratio below 70%
FCF payout ratio is 14.9%, below the 70% threshold.
Net Debt/EBITDA below 3x
Net Debt/EBITDA is 1.9x.
Dividend growth ≤ earnings growth (5Y)
Earnings are negative while dividends are still growing — unsustainable.
Per-payment dividend history
Ex-date Mar 16, 2026
- Payment date
- Apr 7, 2026
- Dividend
- $0.8500
- Adj. dividend
- $0.8500
Ex-date Dec 15, 2025
- Payment date
- Jan 8, 2026
- Dividend
- $0.8500
- Adj. dividend
- $0.8500
Ex-date Sep 15, 2025
- Payment date
- Oct 7, 2025
- Dividend
- $0.8100
- Adj. dividend
- $0.8100
Ex-date Jun 16, 2025
- Payment date
- Jul 8, 2025
- Dividend
- $0.8100
- Adj. dividend
- $0.8100
Ex-date Mar 17, 2025
- Payment date
- Apr 7, 2025
- Dividend
- $0.8100
- Adj. dividend
- $0.8100
Ex-date Dec 16, 2024
- Payment date
- Jan 8, 2025
- Dividend
- $0.8100
- Adj. dividend
- $0.8100
Ex-date Sep 16, 2024
- Payment date
- Oct 7, 2024
- Dividend
- $0.7700
- Adj. dividend
- $0.7700
Ex-date Jun 17, 2024
- Payment date
- Jul 8, 2024
- Dividend
- $0.7700
- Adj. dividend
- $0.7700
Ex-date Mar 14, 2024
- Payment date
- Apr 5, 2024
- Dividend
- $0.7700
- Adj. dividend
- $0.7700
Ex-date Dec 14, 2023
- Payment date
- Jan 8, 2024
- Dividend
- $0.7700
- Adj. dividend
- $0.7700
Ex-date Sep 14, 2023
- Payment date
- Oct 6, 2023
- Dividend
- $0.7300
- Adj. dividend
- $0.7300
Ex-date Jun 14, 2023
- Payment date
- Jul 10, 2023
- Dividend
- $0.7300
- Adj. dividend
- $0.7300
| Ex-Date | Payment Date | Dividend | Adj. Dividend |
|---|---|---|---|
| Mar 16, 2026 | Apr 7, 2026 | $0.8500 | $0.8500 |
| Dec 15, 2025 | Jan 8, 2026 | $0.8500 | $0.8500 |
| Sep 15, 2025 | Oct 7, 2025 | $0.8100 | $0.8100 |
| Jun 16, 2025 | Jul 8, 2025 | $0.8100 | $0.8100 |
| Mar 17, 2025 | Apr 7, 2025 | $0.8100 | $0.8100 |
| Dec 16, 2024 | Jan 8, 2025 | $0.8100 | $0.8100 |
| Sep 16, 2024 | Oct 7, 2024 | $0.7700 | $0.7700 |
| Jun 17, 2024 | Jul 8, 2024 | $0.7700 | $0.7700 |
| Mar 14, 2024 | Apr 5, 2024 | $0.7700 | $0.7700 |
| Dec 14, 2023 | Jan 8, 2024 | $0.7700 | $0.7700 |
| Sep 14, 2023 | Oct 6, 2023 | $0.7300 | $0.7300 |
| Jun 14, 2023 | Jul 10, 2023 | $0.7300 | $0.7300 |
Historical Dividend Yield
Dividend Growth
Dividend Increase Track Record
Merck & Co. has raised its total annual dividend (split-adjusted, by ex-dividend calendar year) versus the prior year for 16 consecutive years — the same figure as the "Consecutive Growth Years" card above.
| Year | Previous DPS | New DPS | Change |
|---|---|---|---|
| 2026 | $3.2800 | — | — |
| 2025 | $3.1200 | $3.2800 | +5.1% |
| 2024 | $2.9600 | $3.1200 | +5.4% |
| 2023 | $2.8000 | $2.9600 | +5.7% |
| 2022 | $2.6102 | $2.8000 | +7.3% |
| 2021 | $2.3664 | $2.6102 | +10.3% |
| 2020 | $2.1565 | $2.3664 | +9.7% |
| 2019 | $1.8989 | $2.1565 | +13.6% |
| 2018 | $1.8034 | $1.8989 | +5.3% |
| 2017 | $1.7653 | $1.8034 | +2.2% |
| 2016 | $1.7271 | $1.7653 | +2.2% |
| 2015 | $1.6889 | $1.7271 | +2.3% |
| 2014 | $1.6508 | $1.6889 | +2.3% |
| 2013 | $1.6126 | $1.6508 | +2.4% |
| 2012 | $1.4886 | $1.6126 | +8.3% |
| 2011 | $1.4504 | $1.4886 | +2.6% |
| 2010 | $1.4504 | $1.4504 | 0.0% |
| 2009 | $1.4504 | $1.4504 | 0.0% |
| 2008 | $1.4504 | $1.4504 | 0.0% |
| 2007 | $1.4504 | $1.4504 | 0.0% |
| 2006 | $1.4504 | $1.4504 | 0.0% |
| 2005 | $1.4313 | $1.4504 | +1.3% |
| 2004 | $4.1374 | $1.4313 | -65.4% |
| 2003 | $1.3550 | $4.1374 | +205.4% |
| 2002 | $1.3168 | $1.3550 | +2.9% |
| 2001 | $1.2023 | $1.3168 | +9.5% |
| 2000 | $1.0687 | $1.2023 | +12.5% |
| 1999 | $0.9447 | $1.0687 | +13.1% |
| 1998 | $0.8302 | $0.9447 | +13.8% |
| 1997 | $0.7061 | $0.8302 | +17.6% |
| 1996 | $0.6107 | $0.7061 | +15.6% |
| 1995 | $0.5534 | $0.6107 | +10.3% |
| 1994 | $0.5057 | $0.5534 | +9.4% |
| 1993 | $0.4580 | $0.5057 | +10.4% |
| 1992 | $0.3785 | $0.4580 | +21.0% |
| 1991 | $0.3212 | $0.3785 | +17.8% |
| 1990 | $0.2735 | $0.3212 | +17.4% |
| 1989 | $0.2075 | $0.2735 | +31.8% |
| 1988 | $0.1431 | $0.2075 | +45.0% |
| 1987 | $0.1060 | $0.1431 | +35.0% |
| 1986 | $0.0875 | $0.1060 | +21.2% |
| 1985 | $0.0808 | $0.0875 | +8.2% |
| 1984 | $0.0755 | $0.0808 | +7.0% |
| 1983 | $0.0742 | $0.0755 | +1.8% |
| 1982 | $0.0702 | $0.0742 | +5.7% |
| 1981 | $0.0630 | $0.0702 | +11.6% |
| 1980 | $0.0530 | $0.0630 | +18.8% |
| 1979 | $0.0464 | $0.0530 | +14.3% |
| 1978 | $0.0411 | $0.0464 | +12.9% |
| 1977 | $0.0378 | $0.0411 | +8.8% |
| 1976 | $0.0371 | $0.0378 | +1.8% |
| 1975 | $0.0278 | $0.0371 | +33.3% |
| 1974 | $0.0327 | $0.0278 | -15.0% |
| 1973 | $0.0224 | $0.0327 | +46.2% |
| 1972 | $0.0292 | $0.0224 | -23.2% |
| 1971 | — | $0.0292 | — |
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 Merck & Co. (MRK) from the consolidated cash flow statement, in USD as filed.
Latest period
$8.23B
YoY change
+4.3%
5Y CAGR
+5.6%
Peak year (2025)
$8.18B
Latest annual
$8.18B
Cash dividends paid over time for Merck & Co. (MRK)
Per-period cash dividends paid
Cash dividends paid annual + quarterly history for Merck & Co. (MRK)
| Fiscal year | Period ended | Reported | Dividends Paid | YoY | YoY change |
|---|---|---|---|---|---|
| 2025 | $8.18B | +4.3% | +$336.00M | ||
| 2024 | $7.84B | +5.3% | +$395.00M | ||
| 2023 | $7.45B | +6.2% | +$433.00M | ||
| 2022 | $7.01B | +6.1% | +$402.00M | ||
| 2021 | $6.61B | +6.4% | +$395.00M | ||
| 2020 | $6.21B | +9.1% | +$520.00M | ||
| 2019 | $5.70B | +10.1% | +$523.00M | ||
| 2018 | $5.17B | +0.1% | +$5.00M | ||
| 2017 | $5.17B | +0.8% | +$43.00M | ||
| 2016 | $5.12B | +0.1% | +$7.00M | ||
| 2015 | $5.12B | -2.5% | -$130.00M | ||
| 2014 | $5.25B | -0.6% | -$30.00M | ||
| 2013 | $5.28B | +0.8% | +$41.00M | ||
| 2012 | $5.24B | +8.8% | +$425.00M | ||
| 2011 | $4.81B | -0.9% | -$42.00M | ||
| 2010 | $4.85B | +50.9% | +$1.64B | ||
| 2009 | $3.21B | -1.9% | -$63.50M | ||
| 2008 | $3.28B | -0.9% | -$28.80M | ||
| 2007 | $3.31B | -0.5% | -$15.30M | ||
| 2006 | $3.32B | -0.8% | -$27.20M | ||
| 2005 | $3.35B | +1.2% | +$39.10M | ||
| 2004 | $3.31B | +1.9% | +$60.30M | ||
| 2003 | $3.25B | +1.8% | +$58.80M | ||
| 2002 | $3.19B | +1.5% | +$46.60M | ||
| 2001 | $3.15B | +12.4% | +$347.00M | ||
| 2000 | $2.80B | +8.0% | +$208.30M | ||
| 1999 | $2.59B | +14.9% | +$336.60M | ||
| 1998 | $2.25B | +10.5% | +$213.20M | ||
| 1997 | $2.04B | +18.0% | +$311.00M | ||
| 1996 | $1.73B | +12.3% | +$189.10M | ||
| 1995 | $1.54B | +7.4% | +$105.70M | ||
| 1994 | $1.43B | +22.1% | +$259.70M | ||
| 1993 | $1.17B | +10.3% | +$110.10M | ||
| 1992 | $1.06B | +19.2% | +$171.10M | ||
| 1991 | $893.20M | +19.2% | +$143.80M | ||
| 1990 | $749.40M | +15.2% | +$99.10M | ||
| 1989 | $650.30M | — | — |
In 2025, Merck & Co. (MRK) dividends paid totalled $8.18B – edged up 4.3% year-over-year.
Merck & Co. dividends paid has grown for 10 consecutive years, with a +5.6% compound annual growth rate over 2020–2025 (5 years).
$8.18B stands as the all-time-high annual dividends paid, posted in 2025, against a low of $650.30M during 1989.
Among 8 Healthcare peers, Merck & Co. (MRK) ranks 4th; the peer median for dividends paid is $6.65B.
Merck & Co. Dividends Paid 2025: $8.18B
Merck & Co. dividends paid in 2025 was $8.18B, edged up 4.3% from 2024. This figure represents the highest annual value in the available history.
Merck & Co. Dividends Paid 2024: $7.84B
Merck & Co. dividends paid in 2024 was $7.84B, grew 5.3% from 2023.
Merck & Co. Dividends Paid 2023: $7.45B
Merck & Co. dividends paid in 2023 was $7.45B, grew 6.2% from 2022.
Merck & Co. Dividends Paid 2022: $7.01B
Merck & Co. dividends paid in 2022 was $7.01B, grew 6.1% from 2021.
Merck & Co. Dividends Paid 2021: $6.61B
Merck & Co. dividends paid in 2021 was $6.61B.
See more financial history for Merck & Co. (MRK).
Sector peers by dividends paid
Companies in the same sector as Merck & Co., ranked by their latest dividends paid.
| Company | Dividends Paid | Sector |
|---|---|---|
| Novo Nordisk (NVO) | $51.76B | Healthcare |
| Johnson & Johnson (JNJ) | $12.38B | Healthcare |
| AbbVie (ABBV) | $11.66B | Healthcare |
| UnitedHealth Group (UNH) | $7.92B | Healthcare |
| Eli Lilly (LLY) | $5.38B | Healthcare |
| Amgen (AMGN) | $5.12B | Healthcare |
| AstraZeneca (AZN) | $5.08B | Healthcare |
| Thermo Fisher Scientific (TMO) | $636.00M | Healthcare |
Frequently asked questions
Does Merck & Co. pay dividends?
Yes, Merck & Co. (MRK) pays quarterly dividends of approximately $3.32 per share annually, yielding 2.94%.
What is Merck & Co.'s dividend yield?
Merck & Co. (MRK) has a current dividend yield of 2.94%.
Is Merck & Co.'s dividend safe?
Merck & Co. (MRK) passes 5 out of 8 dividend safety checks. See the detailed breakdown above for each criterion.
How many consecutive years has Merck & Co. increased its dividend?
Merck & Co. (MRK) has 16 consecutive years of dividend increases.
What is Merck & Co.'s dividend payout ratio?
Merck & Co. (MRK) has a dividend payout ratio of 93.5%. 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 Merck & Co.'s dividends paid?
Latest reported dividends paid for Merck & Co. (MRK) is $8.23B (period ending March 31, 2026).
How has Merck & Co. dividends paid changed year-over-year?
Merck & Co. (MRK) dividends paid changed +4.3% year-over-year on the latest annual filing.
What is the long-term growth rate of Merck & Co. dividends paid?
Merck & Co. (MRK) dividends paid compound annual growth rate is +5.6% over the most recent 5 years available.
When did Merck & Co. dividends paid hit its highest annual value?
Merck & Co. dividends paid reached its highest annual value of $8.18B in 2025.
What was Merck & Co. dividends paid in 2024?
Merck & Co. (MRK) dividends paid in 2024 was $7.84B.
What was Merck & Co. dividends paid in 2025?
Merck & Co. (MRK) dividends paid in 2025 was $8.18B.
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