Alibaba dividend: amount and cash coverage
Alibaba pays CNY0.90 per share, a regular dividend that has been stable since FY2023. Its FY2026 free cash flow was negative CNY50,724 million, so current cash flow did not cover the dividend.
How much does Alibaba pay per share?
The forecast uses CNY0.90 per share in every case and every period. This approximates the declared regular dividend of US$0.13125, which has been stable since FY2023. FY2026 free cash flow was negative CNY50,724 million, so the model excludes the prior year’s extraordinary dividend and assumes infrastructure spending limits increases.
| Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | |
|---|---|---|---|---|---|
| Free cash flow per share | -2.64 | ||||
| − Dividends paid, per share | 1.75 | 1.51 | 0.88 | 0.00 | 0.00 |
| − Share buybacks, per share | 0.40 | 4.49 | 4.36 | 3.54 | 2.81 |
Does Alibaba’s cash cover its dividend?
Free cash flow is the cash left after operating cash pays for capital expenditure. Alibaba’s free cash flow turned negative in FY2026 because investment spending exceeded the cash generated by operations. Dividends and buybacks then consumed still more money, leaving less for new projects.
| Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | |
|---|---|---|---|---|---|
| Free cash flow | -50,724 | ||||
| − Dividends paid | 33,732 | 29,077 | 17,946 | 0 | 0 |
| − Share buybacks | 7,638 | 86,662 | 88,745 | 74,746 | 61,225 |
| = Paid out more than the free cash flow | 93,411 | ||||
| − Acquisitions | 1,212 |
Could Alibaba’s dividend change?
The dividend stays flat because Alibaba has maintained the regular payment but has not funded a higher one from current cash flow.
What is Alibaba’s dividend yield today?
The probability-weighted price is HKD98.99 in October 2027, implying an 8% loss including dividends. It rises to HKD116.99 in October 2028, a 10% return, and HKD146.52 in October 2029, a 38% return. The final-date range is wide: HKD48.45 in the bear case to HKD273.75 in the bull case, against today’s HKD108.20.
| Today (Oct 12, 2026) | |
|---|---|
| Share price | 108.20 |
| Free cash flow yield (calculated) | -2.8% |
| Real free cash flow yield (calculated) | -3.4% |
| Dividend yield (calculated) | 1.0% |