WEC Energy Group dividend
WEC Energy Group pays $3.81 per share at the forecast starting point. WEC Energy Group's 2025 operations supplied $3.38 billion while capital projects absorbed $4.40 billion and common dividends used $1.15 billion, so free cash flow did not cover the dividend.
How much does WEC Energy Group pay per share?
Dividends begin at $3.81 per share. The base and bull cases reach $4.07 and $4.35, using management’s 6.5%–7.0% growth target. The bear case freezes the dividend at $3.81 because negative free cash flow and financing needs could constrain increases.
| October 2027 | October 2028 | October 2029 | |
|---|---|---|---|
| Earnings | 2,012 (1,946 / 2,035) | 2,208 (2,064 / 2,258) | 2,423 (2,189 / 2,505) |
| Shares (millions) | 343 (345 / 342) | 353 (358 / 351) | 363 (372 / 359) |
| Dividends per share | 3.81 (3.81 / 3.81) | 4.07 (3.81 / 4.07) | 4.35 (3.81 / 4.35) |
| Price to earnings | 17.80 (15.50 / 19.50) | 17.80 (14.50 / 20.50) | 17.50 (13.50 / 21.50) |
Does WEC Energy Group's cash cover its dividend?
In 2025, operations supplied $3.38 billion while capital projects absorbed $4.40 billion. WEC also paid $1.15 billion in common dividends. It issued $2.84 billion of long-term debt and repaid $1.73 billion, while new shares brought in additional cash. Debt therefore financed more than refinancing: net debt rose from $15,573.8 million in 2021 to $22,286.8 million in 2025.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Free cash flow | -1,424.8 | -563.0 | -489.5 | -636.2 | -340.0 |
| − Dividends paid | 1,147.8 | 1,056.2 | 984.2 | 917.9 | 854.8 |
| − Share buybacks | 1.3 | 3.2 | 16.6 | 69.2 | 33.1 |
| = Paid out more than the free cash flow | 2,583.5 | 1,625.7 | 1,496.3 | 1,627.6 | 1,232.0 |
| Paid out, % of free cash flow | not meaningful | not meaningful | not meaningful | not meaningful | not meaningful |
What this means. The company paid shareholders even though it did not generate enough free cash, so it had to use savings or borrow money to cover the difference.
What could change WEC Energy Group's dividend?
Management guides to 2026 EPS of $5.51–$5.61 and targets annual EPS growth of 7.0%–8.0% during 2026–2030. It targets dividend growth of 6.5%–7.0% with a 65.0%–70.0% earnings payout ratio. The $37.5 billion capital program is paired with $14.2–$14.8 billion of incremental debt and $5.3–$5.7 billion of equity through 2030.
What is WEC Energy Group's dividend yield today?
The P/E ratio says how much investors pay for each dollar of annual profit. WEC trades at 20.7 times its last twelve months’ earnings and 17.8 times expected next-twelve-month earnings. Its 3.6% dividend yield is the cash paid today; earnings also include profit retained for construction.
| Today (Oct 19, 2026) | |
|---|---|
| Share price | 107.00 |
| P/E, last 12 months (calculated) | 20.7x |
| P/E, next 12 months (calculated) | 17.8x |
| Dividend yield (calculated) | 3.6% |
What this means. The negative free cash flow yield means the company spent more cash than it generated during the latest year.