Amphenol dividend
Amphenol's current dividend pace is $0.50 annually from a $0.125 post-split quarterly payment. Its 2025 real free cash flow was $4,242.7 million, and the cash-flow table shows dividends as one use of that cash.
How much does Amphenol pay per share?
The current dividend pace is $0.50 annually from a $0.125 post-split quarterly payment. The base case rises to $0.55, $0.63, and $0.72. The bear case freezes it at $0.50, while the bull case reaches $0.60, $0.75, and $0.94. Strong free cash flow supports increases, but debt repayment and investment argue against assuming the fastest path.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| − Paid to minority owners, per share | 0.00 | 0.01 | 0.01 | 0.00 | 0.01 |
| − Dividends paid, per share | 0.31 | 0.24 | 0.20 | 0.19 | 0.14 |
| − Share buybacks, per share | 0.26 | 0.27 | 0.24 | 0.29 | 0.26 |
| = FCF not paid out, per share | 1.14 | 0.33 | 0.42 | 0.23 | 0.05 |
Is Amphenol's dividend covered by its cash?
Free cash flow is operating cash flow after ordinary capital spending. Amphenol spent $996.6 million on property and equipment in 2025 and reported its own free-cash-flow measure of $4,392.9 million because it included proceeds from asset disposals. Deducting stock compensation as an allowance for dilution produces “real” free cash flow of $4,242.7 million. These measures exclude acquisition payments because buying another company is a separate investment decision.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Free cash flow | 4,378.1 | 2,149.3 | 2,155.9 | 1,790.8 | 1,163.5 |
| − Dividends paid | 802.2 | 595.1 | 500.6 | 477.4 | 346.7 |
| − Share buybacks | 665.2 | 689.3 | 585.1 | 730.5 | 661.7 |
| = Free cash flow not paid out | 2,904.9 | 831.9 | 1,046.2 | 573.0 | 136.2 |
| Paid out, % of free cash flow | 33.5% | 59.8% | 50.4% | 67.5% | 86.7% |
What could change Amphenol's dividend?
From 2027 through 2029, debt repayment and interest costs will be decisive. A weaker cash conversion would restrict buybacks and dividends, while stronger free cash flow would support both. CCS customer gains and improved factory and supplier costs during 2027 and 2028 would be the clearest evidence for the bull path.
| October 2027 | October 2028 | October 2029 | |
|---|---|---|---|
| Earnings | 7,380 (5,658 / 8,385) | 8,464 (5,625 / 10,400) | 9,690 (6,200 / 12,710) |
| Shares (millions) | 2,491 (2,505 / 2,481) | 2,516 (2,544 / 2,496) | 2,541 (2,583 / 2,511) |
| Dividends per share | 0.55 (0.50 / 0.60) | 0.63 (0.50 / 0.75) | 0.72 (0.50 / 0.94) |
| Price to earnings | 35.00 (25.00 / 45.00) | 32.00 (22.00 / 43.00) | 30.00 (20.00 / 40.00) |
What is Amphenol's dividend yield today?
Cash flow makes the demand clearer. A 2.1% free-cash-flow yield means each $100 of market value currently produces only $2.10 of annual free cash flow. That is below the 5.24% yield on a ten-year U.S. government bond. The 0.6% dividend yield offers little income, while the 13.7x price-to-book ratio offers little asset-value cushion.