Targa Resources (TRGP) Dividend History & Yield
Dividend ChallengerTarga Resources (TRGP) has increased its dividend for 5 consecutive years and currently yields 1.57%. The most recent dividend was $1.2500/share on May 15, 2026, paid Quarterly.
TRGP
Current Yield
1.57%
TTM Dividend/Share
$4.25
Payment Frequency
Quarterly
Payout Ratio
43.3%
Consecutive Growth Years
5 (Dividend Challenger)
Div Growth (1Y CAGR)
36.36%
Div Growth (5Y CAGR)
25.39%
Div Growth (10Y CAGR)
1.01%
TRGP: 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
27.0%
FCF payout ratio
83.6%
Net debt / EBITDA
3.7x
Interest coverage
5.27x
ROIC (TTM)
12.8%
Dividend Safety Score
3 out of 8 checks passed
Payout ratio below 75%
Payout ratio is 43.3%, well below the 75% threshold.
Free cash flow covers dividend
FCF/share ($2.72) does not fully cover dividend/share ($4.25).
No dividend cuts in 10+ years
1 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 5 consecutive year(s) of dividend growth.
FCF payout ratio below 70%
FCF payout ratio is 83.6%, above the 70% threshold.
Net Debt/EBITDA below 3x
Net Debt/EBITDA is 3.7x.
Dividend growth ≤ earnings growth (5Y)
Dividend growth (25.4%) ≤ EPS growth (59.1%) — sustainable.
Per-payment dividend history
Ex-date Apr 30, 2026
- Payment date
- May 15, 2026
- Dividend
- $1.2500
- Adj. dividend
- $1.2500
Ex-date Jan 30, 2026
- Payment date
- Feb 13, 2026
- Dividend
- $1.0000
- Adj. dividend
- $1.0000
Ex-date Oct 31, 2025
- Payment date
- Nov 17, 2025
- Dividend
- $1.0000
- Adj. dividend
- $1.0000
Ex-date Jul 31, 2025
- Payment date
- Aug 15, 2025
- Dividend
- $1.0000
- Adj. dividend
- $1.0000
Ex-date Apr 30, 2025
- Payment date
- May 15, 2025
- Dividend
- $1.0000
- Adj. dividend
- $1.0000
Ex-date Jan 31, 2025
- Payment date
- Feb 14, 2025
- Dividend
- $0.7500
- Adj. dividend
- $0.7500
Ex-date Oct 31, 2024
- Payment date
- Nov 15, 2024
- Dividend
- $0.7500
- Adj. dividend
- $0.7500
Ex-date Jul 31, 2024
- Payment date
- Aug 15, 2024
- Dividend
- $0.7500
- Adj. dividend
- $0.7500
Ex-date Apr 29, 2024
- Payment date
- May 15, 2024
- Dividend
- $0.7500
- Adj. dividend
- $0.7500
Ex-date Jan 30, 2024
- Payment date
- Feb 15, 2024
- Dividend
- $0.5000
- Adj. dividend
- $0.5000
Ex-date Oct 30, 2023
- Payment date
- Nov 15, 2023
- Dividend
- $0.5000
- Adj. dividend
- $0.5000
Ex-date Jul 28, 2023
- Payment date
- Aug 15, 2023
- Dividend
- $0.5000
- Adj. dividend
- $0.5000
| Ex-Date | Payment Date | Dividend | Adj. Dividend |
|---|---|---|---|
| Apr 30, 2026 | May 15, 2026 | $1.2500 | $1.2500 |
| Jan 30, 2026 | Feb 13, 2026 | $1.0000 | $1.0000 |
| Oct 31, 2025 | Nov 17, 2025 | $1.0000 | $1.0000 |
| Jul 31, 2025 | Aug 15, 2025 | $1.0000 | $1.0000 |
| Apr 30, 2025 | May 15, 2025 | $1.0000 | $1.0000 |
| Jan 31, 2025 | Feb 14, 2025 | $0.7500 | $0.7500 |
| Oct 31, 2024 | Nov 15, 2024 | $0.7500 | $0.7500 |
| Jul 31, 2024 | Aug 15, 2024 | $0.7500 | $0.7500 |
| Apr 29, 2024 | May 15, 2024 | $0.7500 | $0.7500 |
| Jan 30, 2024 | Feb 15, 2024 | $0.5000 | $0.5000 |
| Oct 30, 2023 | Nov 15, 2023 | $0.5000 | $0.5000 |
| Jul 28, 2023 | Aug 15, 2023 | $0.5000 | $0.5000 |
Historical Dividend Yield
Dividend Growth
Dividend Increase Track Record
Targa Resources has raised its total annual dividend (split-adjusted, by ex-dividend calendar year) versus the prior year for 5 consecutive years — the same figure as the "Consecutive Growth Years" card above.
| Year | Previous DPS | New DPS | Change |
|---|---|---|---|
| 2026 | $3.7500 | — | — |
| 2025 | $2.7500 | $3.7500 | +36.4% |
| 2024 | $1.8500 | $2.7500 | +48.6% |
| 2023 | $1.4000 | $1.8500 | +32.1% |
| 2022 | $0.4000 | $1.4000 | +250.0% |
| 2021 | $1.2100 | $0.4000 | -66.9% |
| 2020 | $3.6400 | $1.2100 | -66.8% |
| 2019 | $3.6400 | $3.6400 | 0.0% |
| 2018 | $3.6400 | $3.6400 | 0.0% |
| 2017 | $3.6400 | $3.6400 | 0.0% |
| 2016 | $3.3900 | $3.6400 | +7.4% |
| 2015 | $2.6775 | $3.3900 | +26.6% |
| 2014 | $2.0545 | $2.6775 | +30.3% |
| 2013 | $1.5175 | $2.0545 | +35.4% |
| 2012 | $0.9316 | $1.5175 | +62.9% |
| 2011 | — | $0.9316 | — |
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 Targa Resources (TRGP) from the consolidated cash flow statement, in USD as filed.
Latest period
$870.00M
YoY change
+32.9%
5Y CAGR
+15.6%
Peak year (2019)
$964.80M
Latest annual
$818.30M
Cash dividends paid over time for Targa Resources (TRGP)
Per-period cash dividends paid
Cash dividends paid annual + quarterly history for Targa Resources (TRGP)
| Fiscal year | Period ended | Reported | Dividends Paid | YoY | YoY change |
|---|---|---|---|---|---|
| 2025 | $818.30M | +32.9% | +$202.80M | ||
| 2024 | $615.50M | +44.0% | +$188.20M | ||
| 2023 | $427.30M | +12.5% | +$47.60M | ||
| 2022 | $379.70M | +102.5% | +$192.20M | ||
| 2021 | $187.50M | -52.6% | -$208.40M | ||
| 2020 | $395.90M | -59.0% | -$568.90M | ||
| 2019 | $964.80M | +6.2% | +$56.50M | ||
| 2018 | $908.30M | +7.7% | +$65.10M | ||
| 2017 | $843.20M | +49.0% | +$277.30M | ||
| 2016 | $565.90M | +216.1% | +$386.90M | ||
| 2015 | $179.00M | +58.4% | +$66.00M | ||
| 2014 | $113.00M | +28.7% | +$25.20M | ||
| 2013 | $87.80M | +41.2% | +$25.60M | ||
| 2012 | $62.20M | +62.8% | +$24.00M | ||
| 2011 | $38.20M | -81.8% | -$171.90M | ||
| 2010 | $210.10M | — | +$210.10M | ||
| 2009 | $0 | — | $0 | ||
| 2008 | $0 | — | — |
2025's annual dividends paid for Targa Resources (TRGP) came in at $818.30M – surged 32.9% year-over-year.
Over 2020–2025 (5 years), Targa Resources dividends paid expanded at a +15.6% compound annual rate, sustaining 4 straight years of year-over-year growth.
Targa Resources dividends paid peaked at $964.80M in 2019; the latest annual figure is $818.30M in 2025 (15.2% below peak).
Across the available history, dividends paid reached its high of $964.80M in 2019 and its low of $0 in 2008.
Among 8 Energy peers, Targa Resources (TRGP) ranks 9th; the peer median for dividends paid is $3.22B.
Targa Resources Dividends Paid 2025: $818.30M
Targa Resources dividends paid in 2025 was $818.30M, surged 32.9% from 2024.
Targa Resources Dividends Paid 2024: $615.50M
Targa Resources dividends paid in 2024 was $615.50M, surged 44.0% from 2023.
Targa Resources Dividends Paid 2023: $427.30M
Targa Resources dividends paid in 2023 was $427.30M, grew 12.5% from 2022.
Targa Resources Dividends Paid 2022: $379.70M
Targa Resources dividends paid in 2022 was $379.70M, surged 102.5% from 2021.
Targa Resources Dividends Paid 2021: $187.50M
Targa Resources dividends paid in 2021 was $187.50M.
See more financial history for Targa Resources (TRGP).
Sector peers by dividends paid
Companies in the same sector as Targa Resources, ranked by their latest dividends paid.
| Company | Dividends Paid | Sector |
|---|---|---|
| Exxon Mobil (XOM) | $17.23B | Energy |
| Chevron (CVX) | $12.75B | Energy |
| Enbridge (ENB) | $11.27B | Energy |
| ConocoPhillips (COP) | $4.00B | Energy |
| Williams Companies (WMB) | $2.44B | Energy |
| EOG Resources (EOG) | $2.16B | Energy |
| SLB (SLB) | $1.60B | Energy |
| Valero Energy (VLO) | $1.41B | Energy |
Frequently asked questions
Does Targa Resources pay dividends?
Yes, Targa Resources (TRGP) pays quarterly dividends of approximately $4.25 per share annually, yielding 1.57%.
What is Targa Resources's dividend yield?
Targa Resources (TRGP) has a current dividend yield of 1.57%.
Is Targa Resources's dividend safe?
Targa Resources (TRGP) passes 3 out of 8 dividend safety checks. See the detailed breakdown above for each criterion.
How many consecutive years has Targa Resources increased its dividend?
Targa Resources (TRGP) has 5 consecutive years of dividend increases.
What is Targa Resources's dividend payout ratio?
Targa Resources (TRGP) has a dividend payout ratio of 43.3%. 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 Targa Resources's dividends paid?
Latest reported dividends paid for Targa Resources (TRGP) is $870.00M (period ending March 31, 2026).
How has Targa Resources dividends paid changed year-over-year?
Targa Resources (TRGP) dividends paid changed +32.9% year-over-year on the latest annual filing.
What is the long-term growth rate of Targa Resources dividends paid?
Targa Resources (TRGP) dividends paid compound annual growth rate is +15.6% over the most recent 5 years available.
When did Targa Resources dividends paid hit its highest annual value?
Targa Resources dividends paid reached its highest annual value of $964.80M in 2019.
What was Targa Resources dividends paid in 2024?
Targa Resources (TRGP) dividends paid in 2024 was $615.50M.
What was Targa Resources dividends paid in 2025?
Targa Resources (TRGP) dividends paid in 2025 was $818.30M.
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