Geely dividend: history and cash coverage
Geely pays a per-share dividend that varies by year. Geely's free cash flow covered dividends and buybacks, with most cash retained.
How much does Geely pay per share?
Geely kept most of its cash inside the business. Free cash flow rose from RMB12,284.034 million in 2021 to RMB41,023.203 million in 2025. In 2025, dividends and repurchases used RMB3,469.081 million, or 8.5% of that year’s free cash flow. The company retained RMB36,909.603 million after shareholder distributions and payments to minority owners.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Real free cash flow per share | 3.85 | 2.85 | 1.46 | 1.01 | 1.12 |
| − Dividends paid, per share | 0.30 | 0.21 | 0.19 | 0.18 | 0.16 |
| = FCF not paid out, per share | 3.56 | 2.80 | 1.33 | 0.98 | 1.07 |
What this means. Real free cash flow per share is lower because it subtracts the value of shares given to employees as pay, which reduces existing investors’ ownership.
Does Geely's dividend come from free cash flow?
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Free cash flow | 41,023.203 | 30,537.538 | 15,405.682 | 11,729.122 | 12,284.034 |
| − Dividends paid | 3,119.413 | 2,120.216 | 1,915.763 | 1,787.669 | 1,611.439 |
| − Share buybacks | 349.668 | 0 | 0 | 0 | 0 |
| = Free cash flow not paid out | 36,909.603 | 28,290.87 | 13,442.105 | 9,896.406 | 10,607.527 |
| Paid out, % of real free cash flow | 8.7% | 7.4% | 13.0% | 17.5% | 14.6% |
What this means. The company's own net cash is higher because it includes restricted deposits and, in some years, counts perpetual capital securities differently, while our figure simply subtracts total debt from cash and short-term investments.
What could change Geely's dividend?
Base dividends are RMB0.72, then RMB0.78 and RMB0.85. The bear case falls from RMB0.45 to RMB0.40 because growth spending absorbs cash. The bull case reaches RMB1.15 as earnings and payout improve. The base begins with the recent dividend-to-EPS relationship, while policy remains discretionary.
| October 2027 | October 2028 | October 2029 | |
|---|---|---|---|
| Normal operating profit | 23,500 (17,000 / 29,000) | 27,500 (18,500 / 36,000) | 31,000 (20,000 / 43,000) |
| Dividends per share | 0.72 (0.45 / 0.80) | 0.78 (0.40 / 0.96) | 0.85 (0.40 / 1.15) |
| Net debt | -67,700 (-55,600 / -76,700) | -78,200 (-58,700 / -95,200) | -90,000 (-69,300 / -117,700) |
What this means. The negative net debt numbers mean the company has more cash than borrowed money.
What is Geely's dividend yield today?
A price-to-earnings ratio compares the share price with forecast earnings per share. Because the denominator concerns the next twelve months, it is an expectation rather than a cash payment. Price to book compares the share price with accounting equity, while dividend yield measures the cash actually paid to shareholders.