Alliant Energy dividend: cash and outlook
MyStockButler's October 2026 analysis: Alliant Energy targets a dividend of $2.14 per share in 2026 and $2.25 per share in 2027. Alliant Energy’s negative free cash flow means operating cash does not currently cover the dividend and construction spending together.
How much does Alliant Energy pay per share?
For 2026, management guides to ongoing EPS of $3.41–$3.46. For 2027, guidance is $3.63–$3.73. Dividend targets are $2.14 per share for 2026 and $2.25 for 2027.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Revenue | 4,362 | 3,981 | 4,027 | 4,205 | 3,669 |
| EPS, diluted | 3.14 | 2.69 | 2.78 | 2.73 | 2.63 |
| Dividend per share | 2.03 | 1.92 | 1.81 | 1.71 | 1.61 |
How much would Alliant Energy's dividend pay you?
$10,000 invested in Alliant Energy at its 3.0% dividend yield (our report of October 30, 2026) pays $300.00 in the first year, before tax. If its dividend per share keeps changing 5.8% a year, as it did from 2021 to 2025, and the dividends are reinvested, year 10 pays $699.35, with $4,691.62 received in all.
Before tax. Past dividend growth is not a promise. Information only, not investment advice.
Is Alliant Energy’s dividend covered by cash?
In 2025, net income was $810 million and operating cash was $1.169 billion. The difference reflects non-cash items such as depreciation and deferred taxes, as well as the timing of customer collections and supplier payments. Capital spending was $2.483 billion, producing free cash flow of negative $1.314 billion.
Alliant also paid $521 million of common dividends in 2025. Construction and dividends together explain why earnings can improve while borrowing or share issuance remains necessary.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Free cash flow | -1,314 | -1,082 | -987 | -998 | -587 |
| − Dividends paid | 521 | 492 | 456 | 428 | 403 |
| − Share buybacks | 0 | 0 | 0 | 0 | 0 |
| Paid out, % of free cash flow | not meaningful | not meaningful | not meaningful | not meaningful | not meaningful |
What this means. The company paid dividends even though its free cash flow was negative, so it had to use savings or borrow money to pay shareholders.
What could change Alliant Energy’s dividend?
The outcome turns on customer ramp, project budgets and schedules, regulatory recovery, financing and new share issuance. The regulatory decision on Columbia Wind, a wind energy project that could affect Alliant’s plans, is expected in the first half of 2027. Remember: the investment case rests on converting contracted demand and regulated investment into per-share growth while controlling project and financing risk.
What is Alliant Energy’s dividend yield today?
The 3.0% dividend yield is meaningful income, but the current annual dividend target is $2.14 per share and construction competes for cash. Selling stock can reduce borrowing, yet it creates more owners. Alliant expects up to $2.4 billion of common-stock issuance from 2026 through 2029, so projects must increase earnings per share, not merely total earnings.
| Today (Oct 30, 2026) | |
|---|---|
| Share price | 70.68 |
| Free cash flow yield (calculated) | -7.2% |
| Dividend yield (calculated) | 3.0% |