eBay dividend
eBay pays $0.31 per share quarterly, and its forecast dividend rises from $1.32 per share to $1.40 and then $1.48 in the base case. In 2025, eBay generated $1.484 billion of free cash flow while dividends and buybacks totaled $3.031 billion, so free cash flow did not cover total shareholder payouts.
How much does eBay pay per share over the years shown?
The dividend rises from $1.32 per share to $1.40 and then $1.48 in the base case. That is roughly 6% annual growth, below earlier increases but consistent with the latest $0.31 quarterly rate and competition for cash from buybacks and Depop.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Revenue | 11,100 | 10,283 | 10,112 | 9,795 | 10,420 |
| Revenue growth (calculated) | 7.9% | 1.7% | 3.2% | -6.0% | 17.2% |
| EPS, diluted | 4.23 | 3.92 | 5.21 | -2.28 | 0.38 |
| Dividend per share | 1.16 | 1.08 | 1.00 | 0.88 | 0.72 |
What this means. Income from continuing operations leaves out businesses the company has sold, so it is not the company's total net income.
Is eBay's dividend covered by its cash?
In 2025, eBay generated about $1.9 billion from continuing operations. It spent $392 million on property and equipment, leaving $1.484 billion in free cash flow. Dividends and buybacks totaled $3.031 billion. That payout equaled 204.2% of free cash flow, so eBay used other sources, including existing cash, investment sales and borrowing. Buybacks were the larger shareholder payment in each of the five years shown.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Free cash flow | 1,484 | 1,956 | 1,975 | 2,178 | 2,649 |
| − Dividends paid | 531 | 533 | 528 | 489 | 466 |
| − Share buybacks | 2,500 | 3,149 | 1,401 | 3,143 | 7,055 |
| = Free cash flow not paid out | 46 | ||||
| Paid out, % of free cash flow | 204.2% | 188.2% | 97.7% | 166.8% | 283.9% |
What could change eBay's dividend?
For 2026, it guided to 11.5%–12.5% FX-neutral GMV growth. It guided to 10%–12% non-GAAP EPS growth. Depop is expected to dilute 2026 non-GAAP EPS growth by 2.5 percentage points and become accretive to non-GAAP operating income in 2028.
| October 2027 | October 2028 | October 2029 | |
|---|---|---|---|
| Earnings | 2,366 (2,063 / 2,519) | 2,590 (2,064 / 2,895) | 2,805 (2,065 / 3,326) |
| Shares (millions) | 434 (439 / 426) | 425 (433 / 413) | 417 (427 / 402) |
| Dividends per share | 1.32 (1.24 / 1.36) | 1.40 (1.24 / 1.52) | 1.48 (1.24 / 1.68) |
| Price to earnings | 21.00 (16.00 / 24.00) | 20.00 (13.00 / 25.00) | 19.00 (11.00 / 26.00) |
What is eBay's dividend yield against its share price?
Buybacks can raise earnings per share because fewer shares divide the same profit. But when repurchases exceed free cash flow, the return depends partly on the balance sheet. The dividend yield measures current cash income, while the real free cash flow yield subtracts stock-based compensation from free cash flow; neither replaces the need to test GMV, take rate, and recurring cash generation.