UHS dividend
MyStockButler's October 2026 analysis: UHS pays $0.80 per share, with the $0.20 quarterly rate held through September 2026. Its $51.3 million cash cost was covered by $849.2 million of 2025 free cash flow.
How much does UHS pay in dividends?
The dividend is $0.80 per share in every case and forecast year. The $0.20 quarterly rate held through September 2026, and the annual payout stayed flat through 2025. Its $51.3 million cash cost versus $849.2 million of 2025 free cash flow supports continuity, but no growth policy and Medicaid risk argue against an increase.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| − Paid to minority owners, per share | 0.18 | 0.10 | 0.10 | 0.07 | 0.08 |
| − Dividends paid, per share | 0.80 | 0.79 | 0.79 | 0.79 | 0.79 |
| − Share buybacks, per share | 13.95 | 8.82 | 7.48 | 10.98 | 14.35 |
What this means. Real free cash flow per share is lower because it treats shares given to employees as pay that reduces what each existing share receives.
How much would UHS's dividend pay you?
$10,000 invested in UHS at its 0.5% dividend yield (our report of October 28, 2026) pays $50.00 in the first year, before tax. If its dividend per share keeps changing 0.3% a year, as it did from 2021 to 2025, and the dividends are reinvested, year 10 pays $53.83, with $518.88 received in all.
Before tax. Past dividend growth is not a promise. Information only, not investment advice.
Does UHS's cash cover its dividend?
Buybacks reduced the number of shares outstanding and helped per-share results. But free cash flow is the cash left after operations and capital spending, not a legal ceiling on distributions. When buybacks exceed free cash flow, the difference must come from cash already held, borrowing or other financing. In 2021, buybacks far exceeded free cash flow and cash fell substantially. By the end of 2025, net debt had risen from $4.1 billion at the end of 2021 to $4.6 billion.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Free cash flow | 849,245 | 1,123,291 | 524,742 | 262,022 | 28,036 |
| − Dividends paid | 51,267 | 53,346 | 55,480 | 58,449 | 65,896 |
| − Share buybacks | 899,275 | 598,522 | 524,485 | 810,865 | 1,201,330 |
| = Free cash flow not paid out | 464,915 | ||||
| = Paid out more than the free cash flow | 113,031 | 62,053 | 612,683 | 1,246,270 |
What this means. In 2025, the company paid shareholders more than the cash it generated, so it had to use savings or borrow money to cover the difference.
What could change UHS's dividend?
The view would move toward bear if the estimated 2027 Medicaid headwind arrives before replacement growth, Laurel Ridge remains uncertified through 2028, or Cedar Hill and Palm Beach ramp slowly. Labor, liability claims or slower collections would further weaken margins and cash flow.
What is UHS's dividend yield against its share price?
On October 28, 2026, UHS traded at $172.61. That is 7.2 times trailing earnings. Operating margin rose from 8.2% in 2023 to 11.5% in 2025. Real free-cash-flow margin turned down from 6.5% in 2024 to 4.3% in 2025. Net debt reached $4.6 billion. EPS rose to $23.10 as average diluted shares fell 5.1%. The company’s free-cash-flow yield is 8.3%; its cash-flow-statement measure produces a 7.4% real yield. Buybacks add an 8.8% yield.
| Today (Oct 28, 2026) | |
|---|---|
| Share price | 172.61 |
| Free cash flow yield (calculated) | 8.3% |
| Real free cash flow yield (calculated) | 7.4% |
| Dividend yield (calculated) | 0.5% |
What this means. Enterprise value is higher than market value because it includes the company's debt after subtracting its cash.