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Data last updated: Sep 29, 2026
Snapshot (as of Sep 29, 2026): Vanguard Target Retirement 2045 Fund (VTIVX) pays a $0.87 annual dividend, yielding 2.25% at $38.45/share. Next ex-dividend date 2025-12-23. Source: Yahoo Finance, aggregated by MerryDiv.
Dividend Yield: 2.25%
Annual Dividend: $0.87 per share
Ex-Dividend Date: 2025-12-23
Dividend Frequency: annually
Sector: Financial Services
Years of Dividend History: 23
The Vanguard Target Retirement 2045 Fund dividend reflects a fund designed for investors planning to retire between 2043 and 2047, automatically shifting its asset allocation from equities toward bonds as that date approaches. VTIVX currently pays a 2.25% yield. The trailing annual dividend rate is $0.8669 per share, paid annually, with the next ex-dividend date on December 23, 2025. With a beta of 1.13, this fund carries slightly above-average market volatility, making it a fit for dividend investors comfortable with equity-driven fluctuations in exchange for built-in diversification.
Vanguard Target Retirement 2045 Fund pays out dividends as a fund, so a traditional payout ratio is not applicable (fund/ETF). Vanguard Target Retirement 2045 Fund dividend safety is tied directly to the performance of its underlying holdings, which span both equity and fixed-income markets, with the allocation automatically adjusting over time. The fund's beta of 1.13 means distributions can shift meaningfully with broader market conditions, which is the primary factor that could pressure the dividend in any given year.
Vanguard Target Retirement 2045 Fund dividend history shows a CAGR of 6.1% per year from 2007 to 2025. Per-share payments grew from $0.3000 to $0.8669 over that period (2026 data is partial and excluded from the CAGR calculation). The largest annual increase in the window was 717.0% in 2021, and 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 | +11.4% | $0.63 (2022) | $0.87 (2025) |
| 5-Year | +10.1% | $0.54 (2020) | $0.87 (2025) |
| 10-Year | +4.0% | $0.58 (2015) | $0.87 (2025) |
VTIVX fits dividend investors who want broad market exposure with an automatic glide path rather than a pure income stream. The current yield of 2.25% falls in the moderate (2–4%) range, but it sits well below the fund's own 5-year average yield of 3.72%, meaning today's income is lighter than what the fund has historically delivered. The 6.1% long-term dividend CAGR shows the fund can grow distributions over time, though year-to-year swings can be sharp. What an investor gets is diversification and automatic rebalancing; what they accept is yield variability tied to market performance rather than a predictable income schedule.
| Payment Date | Amount per Share |
|---|---|
| 2025-12-23 | $0.8669 |
| 2024-12-30 | $0.7004 |
| 2023-12-27 | $0.6075 |
| 2022-12-28 | $0.6279 |
| 2021-12-29 | $4.3708 |
| 2020-12-30 | $0.5350 |
| 2019-12-27 | $0.5520 |
| 2018-12-28 | $0.5090 |
| 2017-12-28 | $0.4380 |
| 2016-12-28 | $0.4670 |
| Year | Total Dividends |
|---|---|
| 2025 | $0.8669 |
| 2024 | $0.7004 |
| 2023 | $0.6075 |
| 2022 | $0.6279 |
| 2021 | $4.3708 |
Project income from VTIVX with the VTIVX dividend calculator or track your full portfolio with the dividend tracker.