SWK dividend
MyStockButler's October 2026 analysis: SWK pays a rising dividend per share, but its cash coverage has been uneven. Free cash flow covers dividends only after considering working capital, investment and debt needs.
How much does SWK pay in dividends over time?
Dividends rise from $3.40 to $3.48 per share in the base case. The bear case freezes the dividend at $3.36, while the bull case reaches $3.64. The base continues the historical pattern of increases from $2.98 per share in 2021 to $3.30 in 2025, but the freeze recognizes that first-half free cash flow was $250.9M against an annual dividend run rate of about $507M.
| Jan 2026 | 2024 | 2023 | 2022 | Jan 2022 | |
|---|---|---|---|---|---|
| Dividend per share | 3.30 | 3.26 | 3.22 | 3.18 | 2.98 |
How much would SWK's dividend pay you?
$10,000 invested in SWK 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 3.5% a year, as it did from Jan 2022 to Jan 2026, and the dividends are reinvested, year 10 pays $652.27, with $4,775.32 received in all.
Before tax. Past dividend growth is not a promise. Information only, not investment advice.
Does SWK's dividend fit its free cash flow?
Free cash flow also excludes dividends, acquisitions and debt service. Approximately $501 million of FY2025 dividends left only about $187 million before other financing uses. Cash then determines how much debt the balance sheet can safely carry.
| Jan 2026 | 2024 | 2023 | 2022 | Jan 2022 | |
|---|---|---|---|---|---|
| − Dividends paid | 500.6 | 491.2 | 482.6 | 465.8 | 474.8 |
| − Share buybacks | 0 | 0 | 0 | 2,300.0 | 0 |
| − Acquisitions | 0 | 0 | 71.9 | 2,043.8 | |
| − Debt repaid | 850.5 | 1,056.9 | 1,044.7 | 2,638.1 | 1.5 |
| = Net debt | 5,583.6 | 5,812.5 | 6,727.5 | 7,061.4 | 6,453.9 |
| Paid to shareholders | 500.6 | 491.2 | 482.6 | 2,765.8 | 474.8 |
What this means. In 2023, the money from selling assets was partly offset by a cash payment related to selling a business, so the listed amount is the net cash received.
What could change SWK's dividend?
The next report, scheduled for November 4, 2026, is the first checkpoint for whether Q2 volume and margin gains persist. The view moves toward the bear case if weak end-user demand and retailer restocking reduce volume during 2027–2029.
| October 2027 | October 2028 | October 2029 | |
|---|---|---|---|
| Normal operating profit | 1,205 (852 / 1,380) | 1,275 (950 / 1,544) | 1,377 (1,044 / 1,723) |
| Shares (millions) | 150.5 (152 / 149) | 150 (153 / 148) | 149 (153 / 146) |
| Dividends per share | 3.40 (3.36 / 3.40) | 3.44 (3.36 / 3.52) | 3.48 (3.36 / 3.64) |
| Net debt | 3,925 (4,108 / 3,934) | 3,622 (3,971 / 3,625) | 3,231 (3,854 / 3,166) |
What is SWK's dividend yield at today's price?
At $99.24 a share on the October 24, 2026 valuation snapshot, the market values all SWK shares at $14,986.9 million. Enterprise value is $19,152.4 million because the business carries more financing claims than cash. The CAM sale changed this calculation because Howmet paid SWK, which then reduced debt and repurchased shares.