Macy's, Inc. dividend history

Macy's, Inc.'s dividend was $0.730 a share in fiscal 2026, up 5.8% on the year before. That was 30.7% of net income. It has raised its dividend per share every year since fiscal 2022.

Dividends, buybacks and capital spending

FY2027 Q2 TTM

Buybacks (TTM): $205M
Dividends (TTM): $198M
Returned to shareholders: 29%; of free cash flow
Buybacks, last 3 fiscal years: $289M
Diluted share count: −2.4%; year over year
Total shareholder yield: 6.3%; dividends 3.1% + buybacks 3.2% of market value
Dividend payout ratio: 26%; of net income paid out
Sales & admin spending: 36.4%; of revenue

Dividends by fiscal year

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Macy's, Inc.: dividends by fiscal year, annual
Fiscal year	2010Jan 2010	2011Jan 2011	2012Jan 2012	2013Feb 2013	2014Feb 2014	2015Jan 2015	2016Jan 2016	2017Jan 2017	2018Feb 2018	2019Feb 2019	2020Feb 2020	2021Jan 2021	2022Jan 2022	2023Jan 2023	2024Feb 2024	2025Feb 2025	2026Jan 2026	LTMAug 2026
Dividend per share	$0.200	$0.200	$0.550	—	—	—	—	—	—	$1.51	$1.51	$0.378	$0.300	$0.630	$0.660	$0.690	$0.730	—
Dividend per share growth	—	0.0%	+175.0%	—	—	—	—	—	—	—	0.0%	−75.0%	−20.5%	+110.0%	+4.8%	+4.5%	+5.8%	—
Dividends paid	84	84	148	324	359	421	456	459	461	463	466	117	90	173	181	192	197	198
Share buybacks	1	1	502	1,397	1,571	1,901	2,001	316	1	0	1	1	500	601	38	1	250	205
Dividends ÷ net income	25.5%	9.9%	11.8%	24.3%	24.2%	27.6%	42.5%	73.2%	29.4%	41.8%	82.6%	—	6.3%	15.1%	402.2%	33.0%	30.7%	26.4%

Dividend per share is the amount declared for the fiscal year as stated in the company's filings (including any special dividend), restated for stock splits and checked against the cash dividends paid. Dividends paid and buybacks are cash amounts; the last-twelve-months column can include an extra payment when a quarter-end date moves.

Recent dividend announcements

October 23, 2026 Macy’s, Inc. Board of Directors Declares Quarterly Dividend Source

Compare with peers

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Figures from Macy's, Inc.'s SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Macy's, Inc.