Masco dividend: payment, coverage and yield
MyStockButler's October 2026 analysis: Masco pays $0.32 per share each quarter, or $1.28 annualized. Masco's free cash flow comfortably covered shareholder payments in 2023, but it did not cover them in 2022.
How much does Masco pay per share?
Dividends rise modestly in the base case, from $1.31 per share in the first period to $1.35 in the second and $1.39 in the third. The current quarterly payment is $0.32, or $1.28 annualized. The base follows the 13-year increase streak, the approximately 30% payout policy and the recent 3% increase. The bear holds dividends at $1.28 before a small restart; the bull reaches $1.32, $1.40 and $1.48 as cash generation improves.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| − Dividends paid, per share | 1.24 | 1.16 | 1.14 | 1.11 | 0.84 |
What this means. The company's own free cash flow per share differs from ours because it uses special adjustments in some years, such as adding back pension contributions or removing an insurance settlement.
How much would Masco's dividend pay you?
$10,000 invested in Masco at its 1.7% dividend yield (our report of October 29, 2026) pays $170.00 in the first year, before tax. If its dividend per share keeps changing 10.2% a year, as it did from 2021 to 2025, and the dividends are reinvested, year 10 pays $513.89, with $3,098.83 received in all.
Before tax. Past dividend growth is not a promise. Information only, not investment advice.
Does Masco's cash cover its dividend?
The timing matters because payouts were not equally supported by cash every year. In 2022, Masco paid shareholders and minority owners more than that year’s free cash flow; in 2023, free cash flow comfortably covered those payments. Cash and short-term investments fell from 2021 to 2022, while net debt increased.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Free cash flow | 866 | 907 | 1,170 | 616 | 802 |
| − Paid to minority owners | 45 | 37 | 49 | 68 | 43 |
| − Dividends paid | 261 | 254 | 257 | 258 | 211 |
| − Share buybacks | 571 | 751 | 353 | 914 | 1,026 |
| = Free cash flow not paid out | 511 | ||||
| = Paid out more than the free cash flow | 11 | 135 | 624 | 478 |
What this means. The company paid shareholders more than the cash it made in several years, so it had to use savings or borrow money to cover the difference.
What could change Masco's dividend?
At fourth-quarter 2026 results and the 2027 call, margins and cash generation without the tariff refund are the first test. Through 2027–2029, unit growth in plumbing and professional paint must accompany earnings. By 2028, Masco needs 3%–4% organic sales growth and adjusted margins toward 18%. The base case assumes $650 million of annual buybacks. Masco’s 2026 plan calls for $1 billion. The recovery requires durable unit growth and cash, not price and buybacks alone.
What is Masco's dividend yield today?
The probability-weighted price is $79.30 in October 2027, a 6% total return from today. It reaches $88.08 in October 2028, a 19% return. By October 2029, it reaches $100.69, a 38% return. The final-date range runs from the bear case’s $56.66 to the bull case’s $158.31. Today’s price is $76.05. The base case has the highest probability at 53%. Bear is 27%, while bull is 20%.
| Today (Oct 29, 2026) | |
|---|---|
| Share price | 76.05 |
| Dividend yield (calculated) | 1.7% |
What this means. Price to book is not meaningful because the company owes more than it owns on its accounting books.