Smucker dividend
MyStockButler's October 2026 analysis: Smucker pays $4.48 per share in the current annualized rate, after fiscal 2026 dividends of $464.7 million. Fiscal 2026 free cash flow was $1,156.2 million against those dividends, so the cash covered the dividend while debt remained high.
How much does Smucker pay shareholders?
Dividends rise slowly in the base case, from $4.48 to $4.56 and then $4.64. The bear case holds at $4.48 because debt reduction takes priority. The bull case reaches $4.60 and then $4.72 as stronger cash generation creates room. Fiscal 2026 free cash flow was $1,156.2 million against $464.7 million of dividends paid, but debt remains high. The company has raised its dividend for 24 years, supporting a pause as the bear assumption rather than a cut.
| Apr 2026 | Apr 2025 | Apr 2024 | Apr 2023 | Apr 2022 | |
|---|---|---|---|---|---|
| EPS, diluted | -1.30 | ||||
| Real free cash flow per share | 10.61 | ||||
| − Dividends paid, per share | 4.36 | 4.28 | 4.19 | 4.05 | 3.86 |
What this means. The company's own free cash flow per share is higher because it does not subtract the value of shares given to employees as pay; we subtract it because those shares reduce each investor's share of the company.
How much would Smucker's dividend pay you?
$10,000 invested in Smucker at its 3.4% dividend yield (our report of October 24, 2026) pays $340.00 in the first year, before tax. If its dividend per share keeps changing 3.1% a year, as it did from Apr 2022 to Apr 2026, and the dividends are reinvested, year 10 pays $628.39, with $4,680.07 received in all.
Before tax. Past dividend growth is not a promise. Information only, not investment advice.
Is Smucker's dividend covered by its cash?
| Apr 2026 | Apr 2025 | Apr 2024 | Apr 2023 | Apr 2022 | |
|---|---|---|---|---|---|
| Free cash flow | 1,156.2 | ||||
| − Dividends paid | 464.7 | 455.4 | 437.5 | 430.2 | 418.1 |
| − Share buybacks | 0.0 | 0.0 | 362.8 | 358.0 | 262.5 |
| = Free cash flow not paid out | 691.5 |
What this means. The 41.0% figure is higher because it subtracts stock-based employee pay from free cash flow before measuring the shareholder payout.
What could change Smucker's dividend?
Management guides to a 1–2% sales decline for the year to April 2027. It targets adjusted EPS of $10.50–$11.00 and $1.1 billion of free cash flow. The $0.60 per-share tariff-refund benefit is temporary. Planned capital spending is $325 million, alongside about $500 million of debt reduction, leaving less discretionary cash after dividends.
The view would move toward the bear case if coffee volume/mix remains weak through fiscal 2027–2029, or if Sweet Baked Snacks continues losing sales and volume. Slower Uncrustables capacity growth or poor factory economics would also reduce cash available for debt repayment.
What is Smucker's dividend yield today against its price?
| Today (Oct 24, 2026) | |
|---|---|
| Share price | 129.98 |
| Market value (calculated) | 13,884.9 |
| Dividend yield (calculated) | 3.4% |
What this means. The last-12-month and next-12-month price-to-earnings numbers differ sharply because one uses past profit and the other uses analysts’ expected future profit.