Quanta dividend
Quanta's latest annualized dividend rate is $0.44 per share, up from $0.25 in 2021 to $0.41 in 2025. Quanta's dividend is small relative to forecast free cash flow, although cash also goes to equipment, acquisitions and other uses.
How much does Quanta pay in dividends over the years shown?
Base dividends per share are $0.48 in the first year, $0.53 in the second and $0.58 in the third. The path continues recent increases from $0.25 in 2021 to $0.41 in 2025, while the latest annualized rate is $0.44. The bear case holds at $0.44 each year as cash goes to debt, equipment and acquisitions. The bull case reaches $0.68 through faster increases, supported by the dividend’s small cash burden relative to forecast free cash flow.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| − Dividends paid, per share | 0.40 | 0.36 | 0.32 | 0.28 | 0.23 |
| − Share buybacks, per share | 0.89 | 0.00 | 0.00 | 0.86 | 0.46 |
| = FCF not paid out, per share | 9.29 | 9.34 | 7.28 | 3.53 | 0.61 |
Does Quanta's cash cover its dividend?
The cash record shows the priority clearly: Quanta reinvested heavily. In 2025, acquisition cash spending exceeded free cash flow retained after minority distributions, dividends and buybacks, so debt and shares supplied the difference. Shares issued to sellers avoid an immediate cash payment but give those sellers a claim on future earnings.
Operating cash flow was 2,229,970 in 2025. Capital spending was 609,154, leaving conservative free cash flow of 1,620,816. EBITDA is therefore not cash available to owners: Quanta must keep buying trucks, machinery, facilities and other equipment.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Free cash flow | 1,620,816 | 1,477,118 | 1,141,149 | 701,530 | 195,671 |
| − Dividends paid | 60,416 | 54,196 | 47,752 | 41,058 | 34,022 |
| − Share buybacks | 134,555 | 0 | 350 | 127,762 | 66,687 |
| = Free cash flow not paid out | 1,405,819 | 1,401,335 | 1,082,806 | 522,764 | 88,605 |
What could change Quanta's dividend?
The view would move toward the bear case in 2027–2028 if MSA delays or cancellations reduced conversion. In 2027–2029, fixed-price cost overruns, estimate revisions or weaker collections would lower margins and free cash flow. Rising net debt combined with a lower P/E would reinforce the move.
| October 2027 | October 2028 | October 2029 | |
|---|---|---|---|
| Earnings | 2,112 (1,640 / 2,300) | 2,400 (1,596 / 2,862) | 2,652 (1,653 / 3,360) |
| Shares (millions) | 151 (152 / 151) | 152 (153 / 151) | 153 (155 / 152) |
| Dividends per share | 0.48 (0.44 / 0.51) | 0.53 (0.44 / 0.59) | 0.58 (0.44 / 0.68) |
| Price to earnings | 31.00 (24.00 / 36.00) | 30.00 (22.00 / 38.00) | 29.00 (21.00 / 40.00) |
What is Quanta's dividend yield against its share price?
Enterprise value divided by revenue measures the operating business against its sales, before asking how much becomes profit. Free cash flow means operating cash after capital spending, while the dividend yield shows the small portion distributed directly to shareholders. Together, these measures say that the investment depends mainly on profitable expansion.