MPS dividend
MPS pays $2.00 a share quarterly, after raising its regular dividend from $1.56 on February 5, 2026. MPS’s $666.189 million of 2025 free cash flow covered its cash returns, with $438.698 million remaining after stock compensation.
How much does MPS pay per share over time?
Dividends were the steady cash return. On February 5, 2026, MPS raised its regular quarterly dividend from $1.56 to $2.00 a share. Buybacks are more flexible. An authorization gives permission to repurchase shares up to a limit; it does not require the company to spend the full amount. MPS used its previous program by the end of 2024, while the later authorization produced only limited repurchases in 2025.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Dividend per share | 6.24 | 5.00 | 4.00 | 3.00 | 2.40 |
What this means. The 2024 profit is unusually high because a foreign tax incentive created a large tax benefit, not because the business suddenly sold much more.
Is MPS’s dividend covered by its cash?
MPS converts a substantial share of profit into cash, but shareholders must account for stock-based pay. Free cash flow is cash from operations after capital spending. In 2025, operations produced $838.202 million. Capital spending was $172.013 million, leaving $666.189 million of free cash flow.
Stock compensation does not leave the company as cash when granted, but it gives employees ownership. MPS reported $227.491 million of stock compensation in 2025. Subtracting that amount from free cash flow leaves $438.698 million under the memo’s shareholder-minded measure.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Free cash flow | 666,189 | 642,292 | 580,635 | 187,831 | 225,590 |
| − Dividends paid | 284,797 | 240,623 | 185,844 | 137,965 | 109,364 |
| − Share buybacks | 7,686 | 636,244 | 3,741 | 0 | 0 |
| = Free cash flow not paid out | 373,706 | 391,050 | 49,866 | 116,226 |
What this means. In 2024, the company paid shareholders more than its business generated, using money from selling investments and its savings.
What could change MPS’s dividend?
Base dividends per share are $8 in October 2027 and $10 in October 2028. They reach $12 in October 2029. The bear holds at $8, while the bull reaches $12 and then $16. MPS raised its quarterly dividend from $1.56 to $2.00 in February 2026. Free cash flow was $666.189 million in 2025, and net cash was $1,413.761 million at June 2026.
| October 2027 | October 2028 | October 2029 | |
|---|---|---|---|
| Earnings | 1,188 (966 / 1,326) | 1,375 (1,012 / 1,701) | 1,575 (1,056 / 2,090) |
| Shares (millions) | 50.01 (49.88 / 50.13) | 50.88 (50.62 / 51.12) | 51.76 (51.37 / 52.11) |
| Dividends per share | 8.00 (8.00 / 8.00) | 10.00 (8.00 / 12.00) | 12.00 (8.00 / 16.00) |
| Price to earnings | 30.00 (22.00 / 38.00) | 27.00 (18.00 / 36.00) | 24.00 (16.00 / 34.00) |
What is MPS’s dividend yield today against its price?
EBITDA is a rough measure of operating earnings before interest, taxes, depreciation, and amortization. Free cash flow is the cash left after running the business and buying equipment. Thin free-cash-flow and dividend yields leave little immediate return, so investors need future growth to make the price work.