EQT dividend: payment, coverage and yield
EQT pays $0.17 per share each quarter, and the base forecast holds the annual dividend at $0.68 per share. In 2025, EQT paid US$389,633 thousand in dividends, while US$2,088,198 thousand remained after minority-owner payments, dividends, and buybacks were zero.
How much does EQT pay its shareholders?
The base dividend is $0.68 per share at every date, holding the declared $0.17 quarterly payment flat. The bear case cuts annual dividends to $0.34 after 2027; the bull case raises them to $0.72 and then $0.80. The base is supported by steadily rising payments through 2025, but the zero payment in 2021 shows that a downturn can change the policy.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Revenue | 8,644,211 | 5,273,309 | 6,908,923 | 7,497,689 | 3,064,663 |
| Revenue growth (calculated) | 63.9% | -23.7% | -7.9% | 144.6% | 0.2% |
| EPS, diluted | 3.31 | 0.45 | 4.22 | 4.38 | -3.54 |
| Dividend per share | 0.64 | 0.63 | 0.61 | 0.55 | 0.00 |
What this means. The two revenue-growth rows differ because the acquisition-adjusted figure estimates sales as if certain purchases had been owned for the full year, while the calculated figure uses the sales actually reported.
Is EQT’s dividend covered by its cash?
In 2025, payments to minority owners reached US$359,696 thousand. Dividends were US$389,633 thousand, while buybacks were zero. Free cash flow remaining after those distributions was US$2,088,198 thousand, and net debt fell to US$7,726,588 thousand from US$9,156,950 thousand at the end of 2024.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Free cash flow | 2,837,527 | 573,264 | 1,159,813 | 2,065,117 | 607,320 |
| − Paid to minority owners | 359,696 | 1,640 | 11,072 | 11,592 | 0 |
| − Dividends paid | 389,633 | 326,581 | 228,339 | 203,629 | 0 |
| − Share buybacks | 0 | 0 | 201,029 | 409,485 | 12,922 |
| = Free cash flow not paid out | 2,088,198 | 245,043 | 719,373 | 1,440,411 | 594,398 |
| Paid out, % of free cash flow | 13.7% | 57.0% | 37.0% | 29.7% | 2.1% |
What this means. The two payout percentages differ because the second uses a smaller free cash flow amount after subtracting pay given in company shares.
What could change EQT’s dividend?
Lower benchmark prices or a wider basis discount during 2027–2029 would move the forecast toward the bear case by reducing realized prices, margins and cash flow. Higher pipeline charges, maintenance spending or partner distributions would slow debt reduction.
What is EQT’s dividend yield today against its price?
At $54.42 on October 19, 2026, EQT’s equity market value was $34,040,580.72 thousand. Its enterprise value was $39,583,431.72 thousand, showing why the company’s approximately $5.5 billion of net debt matters: shareholders must receive the cash left after those obligations.
| Today (Oct 19, 2026) | |
|---|---|
| Share price | 54.42 |
| Market value (calculated) | 34,040,580.72 |
| Free cash flow yield (calculated) | 8.3% |
| Real free cash flow yield (calculated) | 8.2% |
| Dividend yield (calculated) | 1.2% |
What this means. The next 12 months price-to-earnings number uses analysts' expected profit, so it can be wrong if the company earns more or less than expected.