Gilead Sciences dividend
Gilead Sciences' base forecast raises dividends per share from $3.37 to $3.60, while the current quarterly rate is $0.82. In 2025, dividends and buybacks absorbed 62.7% of free cash flow, leaving $3,531 million for other uses.
How much does Gilead Sciences pay per share?
Dividends rise from $3.37 per share to $3.48 and $3.60 in the base case. The bear holds each period at $3.28, reflecting the current $0.82 quarterly rate and higher debt. The bull reaches $3.40, $3.56 and $3.72 as HIV cash generation strengthens. The base follows the recent 3.8% increase and a five-year record of annual growth.
| October 2027 | October 2028 | October 2029 | |
|---|---|---|---|
| Dividends per share | 3.37 (3.28 / 3.40) | 3.48 (3.28 / 3.56) | 3.60 (3.28 / 3.72) |
Does Gilead Sciences cover its dividend with cash?
Shareholders received $25,058 million through dividends and buybacks. Dividends reached $4,003 million in 2025. Buybacks reached $1,922 million that year. Together, those payments absorbed 62.7% of that year’s free cash flow and left $3,531 million for other uses. Dividends deliver cash immediately. Buybacks can increase each remaining share’s claim on future earnings, but only if Gilead buys at sensible prices.
Stock-based compensation was $894 million. Gilead adds it back because issuing shares does not immediately use cash, but employees still receive part of the business. Subtracting it gives an analytical “real free cash flow” figure of $8,562 million, or 29.1% of revenue.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Free cash flow | 9,456 | 10,305 | 7,421 | 8,344 | 10,805 |
| − Dividends paid | 4,003 | 3,918 | 3,809 | 3,709 | 3,605 |
| − Share buybacks | 1,922 | 1,150 | 1,000 | 1,396 | 546 |
| = Free cash flow not paid out | 3,531 | 5,237 | 2,612 | 3,239 | 6,654 |
| Paid out, % of free cash flow | 62.7% | 49.2% | 64.8% | 61.2% | 38.4% |
What could change Gilead Sciences' dividend?
The first evidence would come from HIV demand, net pricing and Yeztugo repeat dosing during 2027–2029. Slower treatment growth, larger payer discounts or weaker persistence would move the forecast toward the bear case. Stronger prevention uptake and external patient starts would support the bull case.
Finally, cash conversion, debt repayment and repurchase activity will show whether acquisitions create value. Sustained cash generation with lower debt would support faster buybacks and valuation expansion. Elevated debt and restrained repurchases would reinforce the bear path.
What is Gilead Sciences' dividend yield against its price?
| Today (Oct 13, 2026) | |
|---|---|
| Share price | 150.43 |
| Free cash flow yield (calculated) | 5.1% |
| Dividend yield (calculated) | 2.2% |