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Data last updated: Oct 19, 2026
Snapshot (as of Oct 19, 2026): Diageo plc (DEO) pays a $0.50 annual dividend, yielding 2.10% at $95.11/share. Next ex-dividend date 2026-10-16. Source: Yahoo Finance, aggregated by MerryDiv.
Dividend Yield: 2.10%
Annual Dividend: $0.50 per share
Payout Ratio: 106.5%
Ex-Dividend Date: 2026-10-16
Dividend Frequency: semi-annually
Sector: Consumer Defensive
Years of Dividend History: 34
Diageo plc dividend investors are looking at one of the world's largest alcoholic beverage companies, home to brands like Johnnie Walker, Guinness, and Don Julio. DEO currently pays a 3.87% yield, with a trailing annual dividend rate of $3.36 per share paid semi-annually. The next ex-dividend date is October 16, 2026. With a beta of 0.307, DEO stock moves far less than the broader market, which suits income investors who prioritize low volatility over rapid price appreciation.
Diageo plc pays out 105.4% of earnings as dividends, a payout ratio classified as high (above 75%). That figure exceeds 100%, meaning the current dividend is not fully covered by reported earnings. Diageo plc dividend safety rests on the breadth of its global brand portfolio, spanning spirits, beer, and ready-to-drink products across North America, Europe, Africa, and Asia Pacific, but a payout ratio above earnings is the most direct pressure point on the dividend's sustainability.
Diageo plc dividend history shows a CAGR of 3.4% per year from 2011 to 2025. Per-share payments grew from $2.58 to $4.14 over that window (2026 data is partial and excluded from this calculation). The largest annual increase in the window was 15.3% in 2014, though the history also contains at least one year-over-year decline exceeding 5%, so growth has not been linear.
| Period | CAGR | From | To |
|---|---|---|---|
| 3-Year | +2.5% | $3.85 (2022) | $4.14 (2025) |
| 5-Year | +2.6% | $3.64 (2020) | $4.14 (2025) |
| 10-Year | +1.8% | $3.48 (2015) | $4.14 (2025) |
DEO fits income-focused investors drawn to a globally recognized spirits and beer business with a moderate (2-4%) yield. At 3.87%, the current yield sits below the 5-year average of 4.61%, which means buyers today are getting less income relative to price than the historical norm. The 3-year streak of consecutive increases is short, and a payout ratio above 100% limits how aggressively DEO can raise the dividend from here. What an investor gets is exposure to a low-beta stock with a recognizable brand portfolio; what they accept is a payout that earnings do not currently cover and growth that has averaged just 3.4% annually.
| Payment Date | Amount per Share |
|---|---|
| 2026-10-16 | $1.2000 |
| 2026-04-17 | $0.8000 |
| 2025-10-17 | $2.5192 |
| 2025-02-28 | $1.6200 |
| 2024-08-30 | $2.5192 |
| 2024-02-29 | $1.6200 |
| 2023-08-24 | $2.5088 |
| 2023-03-02 | $1.5287 |
| 2022-08-25 | $2.2775 |
| 2022-02-24 | $1.5714 |
| Year | Total Dividends |
|---|---|
| 2026 | $2.0000 |
| 2025 | $4.1392 |
| 2024 | $4.1392 |
| 2023 | $4.0375 |
| 2022 | $3.8489 |
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