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Data last updated: Sep 28, 2026
Snapshot (as of Sep 28, 2026): Vanguard Target Retirement 2065 Fund (VLXVX) pays a $0.80 annual dividend, yielding 1.77% at $45.20/share. Next ex-dividend date 2025-12-23. Source: Yahoo Finance, aggregated by MerryDiv.
Dividend Yield: 1.77%
Annual Dividend: $0.80 per share
Ex-Dividend Date: 2025-12-23
Dividend Frequency: annually
Sector: Financial Services
Years of Dividend History: 9
Vanguard Target Retirement 2065 Fund dividend reflects the income generated by an all-in-one portfolio designed for investors retiring between 2063 and 2067. The fund automatically shifts its asset mix from stocks toward bonds over time, a process that continues for roughly seven years past the target date. VLXVX currently pays $0.8008 per share annually, with the next ex-dividend date on December 23, 2025, and a current yield of 1.76%. That yield sits below 2%, making this fund a better fit for growth-oriented investors than those seeking immediate income.
Vanguard Target Retirement 2065 Fund pays out dividends as a fund/ETF, making the payout ratio not applicable (fund/ETF). Vanguard Target Retirement 2065 Fund dividend safety is tied to the underlying portfolio's income generation, which shifts over time as the fund gradually reallocates from equities toward fixed income. The most significant pressure point is the fund's beta of 1.19, meaning it moves more than the broader market, and distributions can fluctuate year to year as the underlying asset mix and market conditions change.
Vanguard Target Retirement 2065 Fund dividend history shows a CAGR of 21.4% per year from 2017 to 2025. Per-share payments grew from $0.1700 to $0.8008 over that window (2026 data is not yet complete). The largest single-year jump was 113.8% in 2018, but the record also includes at least one decline exceeding 5%, with 2020 dropping to $0.4000 from $0.4570 in 2019.
| Period | CAGR | From | To |
|---|---|---|---|
| 3-Year | +16.2% | $0.51 (2022) | $0.80 (2025) |
| 5-Year | +14.9% | $0.40 (2020) | $0.80 (2025) |
VLXVX fits growth-and-income investors who prioritize dividend growth over current yield, particularly those with a long runway to retirement between 2063 and 2067. The yield is low (below 2%), and at 1.76% it already sits above the fund's 5-year average of 1.39%, which shows the payout has been climbing. The 21.4% annual growth rate is the headline number here. The trade-off is real: annual payments have declined in two separate years within the available history, so income is not smooth. What an investor gets is a rising payout from a self-rebalancing portfolio. What they accept is year-to-year variability and a yield that prioritizes future growth over present income.
| Payment Date | Amount per Share |
|---|---|
| 2025-12-23 | $0.8008 |
| 2024-12-30 | $0.7095 |
| 2023-12-27 | $0.6169 |
| 2022-12-28 | $0.5099 |
| 2021-12-29 | $0.5350 |
| 2020-12-30 | $0.4000 |
| 2019-12-27 | $0.4570 |
| 2018-12-28 | $0.3635 |
| 2017-12-28 | $0.1700 |
| Year | Total Dividends |
|---|---|
| 2025 | $0.8008 |
| 2024 | $0.7095 |
| 2023 | $0.6169 |
| 2022 | $0.5099 |
| 2021 | $0.5350 |
Project income from VLXVX with the VLXVX dividend calculator or track your full portfolio with the dividend tracker.