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Data last updated: Oct 16, 2026
Snapshot (as of Oct 16, 2026): Merck & Co., Inc. (MRK) pays a $3.32 annual dividend ($0.85 quarterly), yielding 2.34% at $146.98/share. Next ex-dividend date 2026-09-15. 21 consecutive years of dividend growth. Source: Yahoo Finance, aggregated by MerryDiv.
Dividend Yield: 2.34%
Annual Dividend: $3.32 per share
Payout Ratio: 266.7% (based on depressed trailing earnings — see safety analysis below)
Ex-Dividend Date: 2026-09-15
Dividend Frequency: quarterly
Sector: Healthcare
Years of Dividend History: 57
Merck & Co., Inc. dividend income comes from one of the largest pharmaceutical companies in the world, with operations spanning oncology, vaccines, and animal health. MRK currently pays $3.40 per share annually, distributed quarterly, with the next ex-dividend date on September 15, 2026. The current yield stands at 2.35%. With a beta of 0.226, MRK stock moves far less than the broader market, which appeals to income investors who prioritize low volatility over high yield.
Merck & Co., Inc. pays out 261.5% of earnings as dividends, a payout ratio classified as high (above 75%). That figure is elevated well beyond typical thresholds, though the company's broad pharmaceutical portfolio, spanning oncology, virology, and vaccines across drug wholesalers, hospitals, and government agencies, reflects a diversified revenue base that supports ongoing operations. Merck & Co., Inc. dividend safety is the central question here, and the payout ratio is the most pressing concern: at 261.5%, earnings as currently reported are not covering the dividend, which creates real pressure if profitability does not recover.
Merck & Co., Inc. dividend history shows a CAGR of 5.5% per year from 2011 to 2025. Per-share payments grew from $1.56 to $3.28 over that window (2026 data is partial and excluded from the growth calculation). The smallest annual increase in the window was 2.2% in 2016, while the largest reached 13.6% in 2019, showing that the pace of raises has varied meaningfully year to year.
| Period | CAGR | From | To |
|---|---|---|---|
| 3-Year | +5.4% | $2.80 (2022) | $3.28 (2025) |
| 5-Year | +6.7% | $2.37 (2020) | $3.28 (2025) |
| 10-Year | +6.6% | $1.73 (2015) | $3.28 (2025) |
MRK fits dividend investors who want moderate, growing income from a large pharmaceutical business with low price volatility. The yield of 2.35% sits above the 5-year average of 2.04%, placing it in the moderate (2-4%) range. The 21-year streak of consecutive dividend increases reflects a long commitment to growing the payout, but the 261.5% payout ratio is the trade-off: earnings are not currently covering the dividend at this level. An investor in MRK gets a low-beta income stream with a history of annual raises, accepting the risk that the payout ratio leaves little room for error if earnings remain under pressure.
| Payment Date | Amount per Share |
|---|---|
| 2026-09-15 | $0.8500 |
| 2026-06-15 | $0.8500 |
| 2026-03-16 | $0.8500 |
| 2025-12-15 | $0.8500 |
| 2025-09-15 | $0.8100 |
| 2025-06-16 | $0.8100 |
| 2025-03-17 | $0.8100 |
| 2024-12-16 | $0.8100 |
| 2024-09-16 | $0.7700 |
| 2024-06-17 | $0.7700 |
| Year | Total Dividends |
|---|---|
| 2026 | $2.5500 |
| 2025 | $3.2800 |
| 2024 | $3.1200 |
| 2023 | $2.9600 |
| 2022 | $2.8000 |
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