Capital One dividend
MyStockButler's October 2026 analysis: Capital One pays $3.20 per share in 2027 at its current quarterly rate of $0.80, with a base-case path to $3.52 in 2029. Reported 2025 common earnings did not cover dividends and buybacks, although dividends remained real cash distributions while acquisition accounting depressed earnings.
How much does Capital One pay in dividends?
Dividends remain at $3.20 per share in 2027 because the current quarterly rate is $0.80. The base case rises to $3.36 in 2028 and $3.52 in 2029, a measured increase consistent with recovery and capital needs. The bear case cuts annual dividends to $2.40 from 2028, while the bull case reaches $3.60 and then $4.00. Capital One has paid common dividends every quarter since 1995, but it has supplied no growth target.
| October 2027 | October 2028 | October 2029 | |
|---|---|---|---|
| Book value | 107,737 (104,237 / 110,237) | 110,237 (103,237 / 115,237) | 112,737 (102,237 / 120,237) |
| Shares (millions) | 573 (590 / 557) | 544 (578 / 512) | 513 (565 / 467) |
| Dividends per share | 3.20 (3.20 / 3.20) | 3.36 (2.40 / 3.60) | 3.52 (2.40 / 4.00) |
| Price to book value | 1.20 (0.90 / 1.40) | 1.25 (0.95 / 1.55) | 1.30 (1.00 / 1.70) |
Does Capital One's cash cover its dividend?
The difficult year is 2025. Acquisition accounting, including the initial allowance for Discover’s loans, depressed reported common earnings while dividends and buybacks remained real cash distributions. Adjusted earnings help show continuing earning power, but they do not erase integration costs or make an unusually high payout sustainable forever.
Capital gets used in several ways. Net income replenishes it, while lending expands risk-weighted assets and losses reduce earnings. Buybacks and dividends remove it directly. In the latest quarter, US$2.6 billion of repurchases, dividends and balance-sheet growth largely offset capital generated by earnings.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| = Continuing earnings for common shareholders | 1,816 | 4,442 | 4,582 | 7,044 | 11,969 |
| − Dividends declared on common shares | 1,520 | 937 | 935 | 954 | 1,152 |
| − Share buybacks | 3,800 | 553 | 600 | 4,814 | 7,500 |
| = Kept to grow and build capital | 2,952 | 3,047 | 1,276 | 3,317 | |
| = Paid out more than it earned | 3,504 |
What could change Capital One's dividend?
The forecast would move toward the bear case if delinquencies and charge-offs rise during 2027, deposit costs remain sticky through 2028, or integration and remediation costs persist through 2029. Those developments would reduce earnings, buybacks and the valuation multiple.
What is Capital One's dividend yield today?
Valuation is 12.3x trailing P/E and 1.2x price-to-book; shareholder returns are a 1.6% dividend yield and a 3.1% buyback yield. The 2025 revenue jump is slower on a pro forma basis—shown as if Discover had been included earlier—and rising NIM sits beside the efficiency ratio, operating expenses divided by revenue, and heavy credit-loss charges. The key turn is 2025: earnings did not cover dividends and buybacks, while acquisition-related share issuance increased dilution.
| Today (Oct 21, 2026) | |
|---|---|
| Share price | 201.56 |
| Market value (calculated) | 121,238.34 |
| Price to book (calculated) | 1.2x |
| Dividend yield (calculated) | 1.6% |
What this means. The price-to-earnings ratio for the next 12 months uses analysts’ guesses about future profit, so it is not based on money the company has already earned.