STERIS dividend: cash coverage and history
MyStockButler's October 2026 analysis: STERIS paid $0.69 per share in its latest quarterly payment, and its dividend was covered by fiscal 2026 free cash flow. STERIS paid $466.8 million, or 48.0% of free cash flow, through dividends and selective buybacks in fiscal 2026, while cash still rose by $267.9 million.
How much does STERIS pay in dividends?
Dividends start at $2.84 per share in the base case and reach $3.24. The bear case holds the latest annualized rate at $2.76, while the bull case reaches $3.52. The latest quarterly payment is $0.69, 9.5% above the prior rate. The company has increased its dividend every year in the supplied five-year record, but rising investment makes slower growth more credible than another decade of near-10% increases.
| Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | |
|---|---|---|---|---|---|
| Net income | 782.3 | 610.1 | 551.44 | 557.414 | 285.477 |
| EPS, diluted | 7.93 | 6.16 | 5.55 | 5.56 | 2.90 |
| Dividend per share | 2.46 | 2.23 | 2.03 | 1.84 | 1.69 |
How much would STERIS's dividend pay you?
$10,000 invested in STERIS at its 1.2% dividend yield (our report of October 23, 2026) pays $120.00 in the first year, before tax. If its dividend per share keeps changing 10.2% a year, as it did from Mar 2022 to Mar 2026, and the dividends are reinvested, year 10 pays $339.09, with $2,108.29 received in all.
Before tax. Past dividend growth is not a promise. Information only, not investment advice.
Is STERIS's dividend covered by its cash?
STERIS also returned cash through dividends and selective buybacks. Those payments were $466.8 million, or 48.0% of free cash flow. The company additionally bought investments, including a roughly one-third stake in an overseas healthcare-products manufacturer. These uses competed with acquisitions, but cash still rose by $267.9 million.
| Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | |
|---|---|---|---|---|---|
| Free cash flow | 972.4 | ||||
| − Dividends paid | 241.8 | 219.9 | 200.6 | 183.498 | 163.169 |
| − Share buybacks | 225.0 | 200.0 | 0.0 | 295.0 | 25.0 |
| = Free cash flow not paid out | 504.2 | ||||
| Paid out, % of free cash flow | 48.0% |
What this means. The two payout percentages differ because “real free cash flow” also counts shares given to employees as a cost.
What could change STERIS's dividend?
Cash pressure during FY2027–FY2029 would also matter. If North Carolina construction and Xodus financing reduce free cash flow, buybacks and dividend growth could slow, while valuation confidence would weaken.
What is STERIS's dividend yield at today's price?
| Today (Oct 22, 2026) | |
|---|---|
| Share price | 232.22 |
| Free cash flow yield (calculated) | 4.3% |
| Real free cash flow yield (calculated) | 4.0% |
| Dividend yield (calculated) | 1.2% |
What this means. Enterprise value is higher than market value because it also includes the company’s debt after subtracting its cash and short-term investments.