Novo Nordisk A S dividend history

Novo Nordisk A S paid $7.84bn in dividends in fiscal 2025. That was 50.5% of net income.

Dividends by fiscal year

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

Novo Nordisk A S: dividends by fiscal year, annual
Fiscal year	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Dividends paid	2,910	3,080	3,423	3,582	4,612	6,403	7,842
Share buybacks	2,299	2,580	3,094	3,410	4,344	2,927	210
Dividends ÷ net income	49.8%	47.8%	45.1%	45.6%	38.0%	43.7%	50.5%
Dividends ÷ free cash flow	51.3%	43.6%	44.2%	37.9%	38.2%	59.8%	87.8%

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.

More: Pharmaceuticals stocks compared, Health Care sector, rankings of US companies

Figures from Novo Nordisk A S's SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Novo Nordisk A S.