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Data last updated: Oct 17, 2026
Snapshot (as of Oct 17, 2026): Vanguard Institutional Index Instl Pl (VIIIX) pays a $5.03 annual dividend ($1.26 quarterly), yielding 2.45% at $613.32/share. Source: Yahoo Finance, aggregated by MerryDiv.
Dividend Yield: 2.45%
Annual Dividend: $5.03 per share
Dividend Frequency: quarterly
Years of Dividend History: 30
Vanguard Institutional Index Instl Pl dividend comes from a fund built to mirror the S&P 500, holding each constituent stock in proportion to its index weighting. The current yield is 1.06%, paid quarterly, with the last dividend at $5.0312 per share. VIIIX draws its distributions from the aggregate dividends of the large U.S. companies that make up the index, so the payout moves with the earnings and dividend decisions of those underlying holdings. Growth-and-income investors who prioritize dividend growth over current yield are the natural fit here, given the fund's 11.9% annualized dividend growth rate over the past 15 years.
Vanguard Institutional Index Instl Pl dividend safety is determined by the collective dividend payments of the S&P 500 constituents, not by a single company's earnings or payout ratio, making the traditional payout ratio not applicable (fund/ETF). The most data-supported pressure point is year-over-year volatility: the annual dividend per share has declined in multiple years within the available history, including a sharp drop from $19.4230 in 2021 to $10.9114 in 2022, which reflects how sensitive the aggregate payout is to shifts in underlying holdings' distributions.
Vanguard Institutional Index Instl Pl dividend history shows a CAGR of 11.9% per year from 2010 to 2025. Per-share dividends grew from $2.1450 to $11.6525 over that window (2026 is a partial year and excluded from this calculation). The largest annual increase in the window was 90.6% in 2021, which illustrates how wide the year-to-year swings can be. Growth is real, but it is not smooth.
| Period | CAGR | From | To |
|---|---|---|---|
| 3-Year | +2.2% | $10.91 (2022) | $11.65 (2025) |
| 5-Year | +2.7% | $10.19 (2020) | $11.65 (2025) |
| 10-Year | +9.7% | $4.61 (2015) | $11.65 (2025) |
VIIIX fits growth-and-income investors who want exposure to S&P 500 dividend streams and are willing to accept year-to-year payout volatility in exchange for long-run growth. The yield is low (below 2%), currently at 1.06%, so this is not a stock for investors who need meaningful current income. The 11.9% annualized dividend growth rate over 15 years is the defining characteristic here. The trade-off is clear: an investor gets broad large-cap U.S. market dividend exposure with strong historical growth, but accepts a low starting yield and no guarantee of smooth annual increases.
| Payment Date | Amount per Share |
|---|---|
| 2026-09-23 | $1.6052 |
| 2026-06-24 | $1.8120 |
| 2026-03-24 | $5.5034 |
| 2025-12-23 | $6.1083 |
| 2025-09-24 | $1.5373 |
| 2025-06-26 | $1.5530 |
| 2025-03-25 | $2.4539 |
| 2024-12-30 | $6.6797 |
| 2024-09-27 | $1.4999 |
| 2024-06-28 | $1.6225 |
| Year | Total Dividends |
|---|---|
| 2026 | $8.9206 |
| 2025 | $11.6525 |
| 2024 | $12.4188 |
| 2023 | $11.7362 |
| 2022 | $10.9114 |
Project income from VIIIX with the VIIIX dividend calculator or track your full portfolio with the dividend tracker.