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Data last updated: Nov 15, 2026
Snapshot (as of Nov 15, 2026): Vanguard Target Retirement 2045 Fund (VTIVX) pays a $0.75 annual dividend, yielding 2.29% at $37.83/share. Source: Yahoo Finance, aggregated by MerryDiv.
Dividend Yield: 2.29%
Annual Dividend: $0.75 per share
Dividend Frequency: annually
Years of Dividend History: 23
The Vanguard Target Retirement 2045 Fund dividend comes from a fund designed for investors planning to retire around 2045, holding a mix of Vanguard mutual funds that gradually shifts from stocks toward bonds as the target date approaches. The current yield is 2.26%, paid annually at $0.7520 per share. VTIVX pays once per year, making it a single annual income event rather than a quarterly income stream. That structure suits dividend investors who prioritize long-term capital growth alongside modest income, rather than those who depend on frequent cash distributions.
Vanguard Target Retirement 2045 Fund dividend safety is not determined by a single company's earnings but by the aggregate distributions from the underlying Vanguard mutual funds held within the portfolio. Payout ratio is not applicable (fund/ETF). The history table shows a year-over-year decline from $0.5520 in 2019 to $0.5350 in 2020, a drop of roughly 3%, which demonstrates that annual payouts can fall when the underlying holdings distribute less.
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 window (2026 data is partial and excluded from the CAGR calculation). The history also contains at least one year-over-year decline exceeding 5%, so the growth path 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 moderate income alongside a glide-path fund structure that automatically becomes more conservative as 2045 approaches. The yield sits at 2.26%, which falls in the moderate (2–4%) range, and the 6.1% annual dividend growth rate over 18 years adds real purchasing power over time. The trade-off is straightforward: income arrives just once per year, and annual payouts have declined in at least one historical year, so the income stream is not perfectly predictable. Investors gain exposure to a diversifying, shifting asset mix; they accept that distributions depend entirely on what the underlying Vanguard funds generate in any given year.
| 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 |
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