Seagate Technology dividend
Seagate Technology pays $0.74 per share quarterly, and its historical dividend rose from $2.77 to $2.94. Its 2026 free cash flow supported dividends and resumed buybacks while reducing debt.
How much does Seagate Technology pay in dividends?
The base dividend rises from $2.96 to $3.20 per share. The bear case cuts it to $1.50, while the bull case lifts it to $3.52. The starting point is the current $0.74 quarterly payment, and the historical dividend rose gradually from $2.77 to $2.94. The board retains discretion, so the bear case allows for a cyclical cut.
| Jul 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jul 2022 | |
|---|---|---|---|---|---|
| Revenue | 12,195 | 9,097 | 6,551 | 7,384 | 11,661 |
| EPS, diluted | 13.90 | 6.77 | 1.58 | -2.56 | 7.36 |
| Dividend per share | 2.94 | 2.86 | 2.80 | 2.80 | 2.77 |
Does Seagate Technology's cash cover its dividend?
Later, Seagate balanced shareholder payments with acquisitions, asset sales, and debt repayment. In 2026, stronger free cash flow supported dividends and resumed buybacks while also reducing debt. Net debt fell from $5,031 million in 2022 to $1,861 million in 2026. That is a clear financial payoff: lower fixed obligations leave more room for factory transitions and technology investment.
| Jul 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jul 2022 | |
|---|---|---|---|---|---|
| Free cash flow | 3,105 | 818 | 664 | 626 | 1,276 |
| − Dividends paid | 634 | 600 | 585 | 582 | 610 |
| − Share buybacks | 176 | 0 | 0 | 408 | 1,799 |
| = Free cash flow not paid out | 2,295 | 218 | 79 | ||
| = Net debt | 1,861 | 4,104 | 4,316 | 4,665 | 5,031 |
What could change Seagate Technology's dividend?
The view moves toward the bear case if inventory correction appears between October 2027 and October 2028, reducing nearline growth, utilization and free cash flow. HAMR yield or qualification setbacks in the same period would raise unit costs and delay the high-capacity product mix.
The base case gains credibility if allocated demand converts into shipments and capex remains within management’s 4.0%–6.0% revenue range. Mozaic adoption and stable revenue per terabyte would support the modeled margin path.
| October 2027 | October 2028 | October 2029 | |
|---|---|---|---|
| Normal operating profit | 6,435 (5,280 / 7,740) | 5,270 (2,500 / 8,400) | 4,725 (2,340 / 8,800) |
| Shares (millions) | 228 (229 / 228) | 229 (229 / 228) | 229 (230 / 227) |
| Dividends per share | 2.96 (2.96 / 2.96) | 3.08 (2.00 / 3.20) | 3.20 (1.50 / 3.52) |
| Net debt | -2,803 (-1,836 / -3,715) | -6,670 (-3,832 / -9,979) | -10,018 (-5,745 / -16,510) |
What is Seagate Technology's dividend yield today?
Book value is also a weak guide. It does not capture the value of a successful technology roadmap, and it does not show how disappointing technology could leave equipment less useful. Cash-flow yield and dividend yield therefore matter more, while settled exchangeable notes and their issued shares must be counted correctly.