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Data last updated: Aug 31, 2026
Snapshot (as of Aug 31, 2026): Pinnacle West Capital Corporation (PNW) pays a $3.64 annual dividend ($0.91 quarterly), yielding 3.73% at $97.61/share. Next ex-dividend date 2026-08-03. 32 consecutive years of dividend growth (Dividend Aristocrat). Source: Yahoo Finance, aggregated by MerryDiv.
Dividend Yield: 3.73%
Annual Dividend: $3.64 per share
Payout Ratio: 67.4%
Ex-Dividend Date: 2026-08-03
Dividend Frequency: quarterly
Sector: Utilities
Years of Dividend History: 38
Pinnacle West Capital Corporation dividend investors are looking at Arizona's dominant regulated electric utility, serving roughly 1.3 million customers through its Arizona Public Service Company subsidiary. The current yield stands at 3.73%, with a trailing annual dividend rate of $3.64 per share paid quarterly. The next ex-dividend date is August 3, 2026, with the last declared payment of $0.91 per share. PNW is a Dividend Aristocrat, and its beta of 0.444 marks it as a low-volatility holding suited to income-focused investors who prioritize predictability over price swings.
Pinnacle West Capital Corporation pays out 67.4% of earnings as dividends, a payout ratio classified as elevated (60–75%). That level is supported by the regulated nature of APS's electricity business, which serves a captive base of 1.3 million customers across Arizona with no competitive alternatives for grid-delivered power. Pinnacle West Capital Corporation dividend safety hinges on continued regulatory approval for rate structures, since any adverse rate decision from Arizona regulators would directly pressure the earnings base that funds the payout.
Over the past 14 years, Pinnacle West Capital Corporation dividend history shows a CAGR of 3.9% per year from 2011 to 2025. Per-share payments grew from $2.10 to $3.595 over that span (2026 data is partial and excluded from the rate calculation). The smallest annual increase in the window was 1.0% in 2012, which sets a floor for how slow growth can get even in lean years.
| Period | CAGR | From | To |
|---|---|---|---|
| 3-Year | +1.7% | $3.42 (2022) | $3.60 (2025) |
| 5-Year | +2.5% | $3.18 (2020) | $3.60 (2025) |
| 10-Year | +4.1% | $2.41 (2015) | $3.60 (2025) |
Pinnacle West Capital Corporation fits income-focused investors who want a regulated utility with a moderate (2–4%) yield and minimal price volatility. At 3.73%, the current yield sits slightly above the 5-year average of 3.56%, meaning buyers today are getting a marginally better entry yield than the historical norm. Thirty-two consecutive years of dividend increases confirm Dividend Aristocrat status, a streak that spans multiple economic environments. The trade-off is growth: at 3.9% annually, dividend increases barely outpace typical inflation, so real income growth is slow. PNW stock delivers predictability and a meaningful yield, but not acceleration.
PNW is a Dividend Aristocrat with 32 consecutive years of dividend increases.
| Payment Date | Amount per Share |
|---|---|
| 2026-08-03 | $0.9100 |
| 2026-05-04 | $0.9100 |
| 2026-02-02 | $0.9100 |
| 2025-11-03 | $0.9100 |
| 2025-08-01 | $0.8950 |
| 2025-05-05 | $0.8950 |
| 2025-02-03 | $0.8950 |
| 2024-11-04 | $0.8950 |
| 2024-08-01 | $0.8800 |
| 2024-04-30 | $0.8800 |
| Year | Total Dividends |
|---|---|
| 2026 | $2.7300 |
| 2025 | $3.5950 |
| 2024 | $3.5350 |
| 2023 | $3.4750 |
| 2022 | $3.4150 |
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