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Data last updated: Oct 12, 2026
Snapshot (as of Oct 12, 2026): CMS Energy Corporation (CMS) pays a $2.23 annual dividend ($0.57 quarterly), yielding 3.48% at $65.49/share. Next ex-dividend date 2026-08-07. 18 consecutive years of dividend growth. Source: Yahoo Finance, aggregated by MerryDiv.
Dividend Yield: 3.48%
Annual Dividend: $2.23 per share
Payout Ratio: 66.8%
Ex-Dividend Date: 2026-08-07
Dividend Frequency: quarterly
Sector: Utilities
Years of Dividend History: 35
CMS Energy Corporation dividend income comes from a Michigan-based utility serving 1.9 million electric and 1.8 million gas customers across regulated and clean energy segments. The current yield is 3.35%, paid quarterly at $0.5631 per share on a trailing annual basis of $2.2525. The next ex-dividend date is August 7, 2026. With a beta of 0.331, CMS stock moves far less than the broader market, which suits income investors who prioritize low volatility over capital gains.
CMS Energy Corporation pays out 67.3% of earnings as dividends, a payout ratio classified as elevated (60–75%). That level is supported by the regulated nature of the business: electric and gas utility operations serving nearly 4 million customer accounts in Michigan generate predictable, rate-based revenue that does not swing sharply with economic conditions. The primary pressure on CMS Energy Corporation dividend safety is that a payout ratio at the upper end of the moderate range leaves limited room to absorb earnings shortfalls without affecting the dividend.
CMS Energy Corporation dividend history shows a CAGR of 7.0% per year from 2011 to 2025. Per-share payments grew from $0.84 to $2.17 over that window (2026 data is partial and excluded from the CAGR calculation). The smallest annual increase in the window was 5.3% in 2025, and 18 consecutive years of dividend increases mark an unbroken upward trend.
| Period | CAGR | From | To |
|---|---|---|---|
| 3-Year | +5.7% | $1.84 (2022) | $2.17 (2025) |
| 5-Year | +5.9% | $1.63 (2020) | $2.17 (2025) |
| 10-Year | +6.5% | $1.16 (2015) | $2.17 (2025) |
CMS Energy Corporation is a fit for income-focused investors who want a regulated utility with a moderate (2–4%) yield and a long record of annual increases. At 3.35%, the current yield sits above the 5-year average of 2.91%, meaning buyers today lock in a higher income rate than the historical norm. Growth is real but not fast: 7.0% per year over 14 years is meaningful for compounding, yet the 5.3% increase in 2025 signals the pace is slowing. The trade-off is a 67.3% payout ratio that leaves less cushion than lower-yielding utilities, in exchange for a yield that is already above CMS's own historical average.
| Payment Date | Amount per Share |
|---|---|
| 2026-08-07 | $0.5700 |
| 2026-05-08 | $0.5700 |
| 2026-02-17 | $0.5700 |
| 2025-11-07 | $0.5425 |
| 2025-08-08 | $0.5425 |
| 2025-05-09 | $0.5425 |
| 2025-02-14 | $0.5425 |
| 2024-11-13 | $0.5150 |
| 2024-08-02 | $0.5150 |
| 2024-05-14 | $0.5150 |
| Year | Total Dividends |
|---|---|
| 2026 | $1.7100 |
| 2025 | $2.1700 |
| 2024 | $2.0600 |
| 2023 | $1.9505 |
| 2022 | $1.8400 |
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