Current Yield
3.66%
TTM Dividend/Share
$1.80
Payment Frequency
Semi-Annual
Payout Ratio
6.6%
Consecutive Growth Years
7 (Dividend Challenger)
Key takeaways
- Dividend Challenger — Novo Nordisk (NVO) has raised its dividend for 7 consecutive years.
- Novo Nordisk (NVO) currently yields 3.66%, paying $1.80 per share over the trailing twelve months, distributed semi-annual.
- Payout ratio is 6.6% — the share of earnings distributed as dividends.
- 4 of 8 dividend safety checks passed.
- 5-year dividend CAGR of 21.57%.
Dividend yield valuation for Novo Nordisk (NVO)
Current dividend yield vs its own 1Y / 3Y / 5Y historical averages — a rough valuation signal.
Valuation zone | Above average — potential buy zone |
Current yield (now) | 3.66% |
1-year average yield | 3.60%now 0.06 pp above |
3-year average yield | 2.07%now 1.59 pp above |
5-year average yield | 1.74%now 1.92 pp above |
NVO: 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 Novo Nordisk (NVO)
Cash-flow, leverage and returns metrics that signal whether the dividend is well-covered and sustainable.
Chowder score | 25.2% |
FCF payout ratio | 114.0% |
Net debt / EBITDA | 0.7x |
Interest coverage | 17.56x |
ROIC (TTM) | 42.4% |
Dividend safety score for Novo Nordisk (NVO)
Checks covering payout coverage, free-cash-flow support, leverage and dividend-growth durability.
4 of 8 checks passed
Payout ratio below 75%
Payout ratio is 6.6%, well below the 75% threshold.
Free cash flow covers dividend
TTM FCF after dividends is $-21.1B — FCF does not fully cover the payout.
No dividend cuts in 10+ years
10 dividend cut(s) 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 7 consecutive year(s) of dividend growth.
FCF payout ratio below 70%
FCF payout ratio is 114.0%, above the 70% threshold.
Net Debt/EBITDA below 3x
Net Debt/EBITDA is 0.7x.
Dividend growth ≤ earnings growth (5Y)
Dividend growth (21.6%) ≤ EPS growth (37.1%) — 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
52 payments from 1985 to 2026 · Adj. Dividend is split-adjusted
| Mar 30, 2026 | Apr 8, 2026 | $1.2174 | $1.2174 |
| Aug 18, 2025 | Aug 26, 2025 | $0.5843 | $0.5843 |
| Mar 31, 2025 | Apr 8, 2025 | $1.1426 | $1.1426 |
| Aug 16, 2024 | Aug 26, 2024 | $0.5169 | $0.5169 |
| Mar 22, 2024 | Apr 2, 2024 | $0.9293 | $0.9293 |
| Aug 18, 2023 | Aug 29, 2023 | $0.8763 | $0.4382 |
| Mar 24, 2023 | Apr 4, 2023 | $1.1806 | $0.5903 |
| Aug 12, 2022 | Aug 23, 2022 | $0.5777 | $0.2889 |
| Mar 25, 2022 | Apr 5, 2022 | $1.0224 | $0.5112 |
| Aug 16, 2021 | Aug 25, 2021 | $0.5503 | $0.2751 |
| Mar 26, 2021 | Apr 7, 2021 | $0.9221 | $0.4611 |
| Aug 14, 2020 | Aug 25, 2020 | $0.5178 | $0.2589 |
- Mar 30, 2026$1.2174
- Aug 18, 2025$0.5843
- Mar 31, 2025$1.1426
- Aug 16, 2024$0.5169
- Mar 22, 2024$0.9293
- Aug 18, 2023$0.8763
- Mar 24, 2023$1.1806
- Aug 12, 2022$0.5777
- Mar 25, 2022$1.0224
- Aug 16, 2021$0.5503
- Mar 26, 2021$0.9221
- Aug 14, 2020$0.5178
Historical dividend yield for Novo Nordisk (NVO)
Mean trailing dividend yield using one ratio snapshot per calendar year.Mean yield1Y: 3.60%5Y: 1.74%10Y: 2.14%
Dividend per share for Novo Nordisk (NVO)
CAGR (per year)1Y: 19.41%5Y: 21.57%10Y: 16.81%→ Stable
| Year | Total ($/share) | Payments |
|---|---|---|
| 1985 | $0.00 | 1 |
| 1986 | $0.00 | 1 |
| 1987 | $0.00 | 1 |
| 1988 | $0.00 | 1 |
| 1989 | $0.00 | 1 |
| 1990 | $0.00 | 1 |
| 1991 | $0.00 | 1 |
| 1992 | $0.00 | 1 |
| 1993 | $0.00 | 1 |
| 1994 | $0.00 | 1 |
| 1995 | $0.00 | 1 |
| 1996 | $0.00 | 1 |
| 1997 | $0.01 | 1 |
| 1998 | $0.01 | 1 |
| 1999 | $0.01 | 1 |
| 2000 | $0.01 | 1 |
| 2001 | $0.02 | 1 |
| 2002 | $0.02 | 1 |
| 2003 | $0.03 | 1 |
| 2004 | $0.04 | 1 |
| 2005 | $0.04 | 1 |
| 2006 | $0.05 | 1 |
| 2007 | $0.06 | 1 |
| 2008 | $0.09 | 1 |
| 2009 | $0.11 | 1 |
| 2010 | $0.14 | 1 |
| 2011 | $0.19 | 1 |
| 2012 | $0.25 | 1 |
| 2013 | $0.31 | 1 |
| 2014 | $0.42 | 1 |
| 2015 | $0.36 | 1 |
| 2016 | $0.71 | 2 |
| 2017 | $0.57 | 2 |
| 2018 | $0.63 | 2 |
| 2019 | $0.61 | 2 |
| 2020 | $0.65 | 2 |
| 2021 | $0.74 | 2 |
| 2022 | $0.80 | 2 |
| 2023 | $1.03 | 2 |
| 2024 | $1.45 | 2 |
| 2025 | $1.73 | 2 |
| 2026 | $1.22 | 1 |
Dividend growth for Novo Nordisk (NVO)
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 | $1.7269 | — | — |
| 2025 | $1.4462 | $1.7269 | +19.4% |
| 2024 | $1.0285 | $1.4462 | +40.6% |
| 2023 | $0.8001 | $1.0285 | +28.5% |
| 2022 | $0.7362 | $0.8001 | +8.7% |
| 2021 | $0.6502 | $0.7362 | +13.2% |
| 2020 | $0.6132 | $0.6502 | +6.0% |
| 2019 | $0.6341 | $0.6132 | -3.3% |
| 2018 | $0.5721 | $0.6341 | +10.8% |
| 2017 | $0.7058 | $0.5721 | -18.9% |
| 2016 | $0.3650 | $0.7058 | +93.4% |
| 2015 | $0.4152 | $0.3650 | -12.1% |
| 2014 | $0.3102 | $0.4152 | +33.8% |
| 2013 | $0.2510 | $0.3102 | +23.6% |
| 2012 | $0.1886 | $0.2510 | +33.1% |
| 2011 | $0.1359 | $0.1886 | +38.8% |
| 2010 | $0.1085 | $0.1359 | +25.2% |
| 2009 | $0.0942 | $0.1085 | +15.2% |
| 2008 | $0.0619 | $0.0942 | +52.2% |
| 2007 | $0.0480 | $0.0619 | +28.9% |
| 2006 | $0.0429 | $0.0480 | +12.1% |
| 2005 | $0.0362 | $0.0429 | +18.5% |
| 2004 | $0.0261 | $0.0362 | +38.4% |
| 2003 | $0.0198 | $0.0261 | +32.2% |
| 2002 | $0.0158 | $0.0198 | +25.3% |
| 2001 | $0.0125 | $0.0158 | +26.6% |
| 2000 | $0.0112 | $0.0125 | +11.7% |
| 1999 | $0.0061 | $0.0112 | +82.8% |
| 1998 | $0.0057 | $0.0061 | +7.4% |
| 1997 | $0.0043 | $0.0057 | +33.7% |
| 1996 | $0.0039 | $0.0043 | +9.9% |
| 1995 | $0.0026 | $0.0039 | +46.5% |
| 1994 | $0.0028 | $0.0026 | -4.9% |
| 1993 | $0.0027 | $0.0028 | +3.5% |
| 1992 | $0.0030 | $0.0027 | -10.6% |
| 1991 | $0.0031 | $0.0030 | -3.8% |
| 1990 | $0.0023 | $0.0031 | +34.7% |
| 1989 | $0.0026 | $0.0023 | -11.3% |
| 1988 | $0.0021 | $0.0026 | +26.1% |
| 1987 | $0.0025 | $0.0021 | -15.8% |
| 1986 | $0.0019 | $0.0025 | +32.8% |
| 1985 | — | $0.0019 | — |
- 2026—
- 2025$1.7269
- 2024$1.4462
- 2023$1.0285
- 2022$0.8001
- 2021$0.7362
- 2020$0.6502
- 2019$0.6132
- 2018$0.6341
- 2017$0.5721
- 2016$0.7058
- 2015$0.3650
- 2014$0.4152
- 2013$0.3102
- 2012$0.2510
- 2011$0.1886
- 2010$0.1359
- 2009$0.1085
- 2008$0.0942
- 2007$0.0619
- 2006$0.0480
- 2005$0.0429
- 2004$0.0362
- 2003$0.0261
- 2002$0.0198
- 2001$0.0158
- 2000$0.0125
- 1999$0.0112
- 1998$0.0061
- 1997$0.0057
- 1996$0.0043
- 1995$0.0039
- 1994$0.0026
- 1993$0.0028
- 1992$0.0027
- 1991$0.0030
- 1990$0.0031
- 1989$0.0023
- 1988$0.0026
- 1987$0.0021
- 1986$0.0025
- 1985$0.0019
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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