DTE Energy dividend
MyStockButler's October 2026 analysis: DTE Energy paid $4.21 per share of dividends in 2025. Free cash flow was -$4.93 per share against $4.21 per share of dividends paid in 2025, so free cash flow did not cover the dividend.
How much does DTE Energy pay its shareholders?
Revenue growth was 26.9% in 2025, lifted by Energy Trading revenue of $6,477 million. Operating margin fell from 17.6% in 2023 to 15.0% in 2025. DTE’s real free cash flow was -6.8% of revenue in 2025, while net debt rose from $18,135 million in 2021 to $25,815 million in 2025. Free cash flow was -$4.93 per share against $4.21 per share of dividends paid in 2025. Buyback yield was 0.0%.
Dividends start from the declared $1.165 quarterly rate, or $4.66 annualized. The base case raises them to $4.94, $5.24 and $5.56, using 6% annual growth at the lower end of management’s long-term range. The bear case freezes the dividend at $4.66 because capital spending exceeds operating cash. The bull case reaches $4.99, $5.34 and $5.71 if investment recovery supports growth.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| EPS, diluted | 7.03 | 6.77 | 6.76 | 5.52 | 4.10 |
| Free cash flow per share | -4.93 | -3.98 | -3.47 | -7.15 | |
| − Dividends paid, per share | 4.21 | 3.91 | 3.65 | 3.49 | 4.08 |
| − Share buybacks, per share | 0.00 | 0.00 | 0.00 | 0.28 | 0.34 |
| = Paid out more than FCF, per share | 9.14 | 7.89 | 7.12 | 10.96 |
How much would DTE Energy's dividend pay you?
$10,000 invested in DTE Energy at its 3.6% dividend yield (our report of October 21, 2026) pays $360.00 in the first year, before tax. If its dividend per share keeps changing 0.8% a year, as it did from 2021 to 2025, and the dividends are reinvested, year 10 pays $536.47, with $4,422.90 received in all.
Before tax. Past dividend growth is not a promise. Information only, not investment advice.
Is DTE Energy’s dividend covered by its cash?
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Free cash flow | -1,020 | -824 | -714 | -1,401 | |
| − Dividends paid | 871 | 810 | 752 | 685 | 791 |
| − Share buybacks | 0 | 0 | 0 | 55 | 66 |
| = Paid out more than the free cash flow | 1,891 | 1,634 | 1,467 | 2,148 | |
| Paid out, % of free cash flow | not meaningful | not meaningful | not meaningful | not meaningful |
What this means. The company’s cash rose even though it had negative free cash flow because it borrowed more money than it repaid.
What could change DTE Energy’s dividend?
- Funding and large loads: DTE guides to $2.9 billion of negative free cash flow in 2026. It plans $500–$600 million of annual equity issuance, while data-center demand must arrive without shifting project costs to other customers.
What is DTE Energy’s dividend yield today?
| Today (Oct 21, 2026) | |
|---|---|
| Share price | 129.625 |
| Market value (calculated) | 26,973.42 |
| Dividend yield (calculated) | 3.6% |
What this means. The negative free cash flow yields mean the company used more cash than it generated during the latest year.