Covered, compounding — at a fuller payout. A 2.74% yield on a 50.43% trailing payout is covered, but fuller than most House cards: $1.71 a quarter, raised from $1.63 in Sep. 2026, extending 6 years of increases in the dividend history. The payout leaves less retained than a low-payout payer, so coverage depends on consulting demand holding up.
Key risk: Consulting demand cycles — if clients cut discretionary technology spending, bookings and earnings fall, and the room for future raises narrows.
Changes if: Earnings fall enough to push the trailing payout well past 50.43%, or the dividend stops growing. Payout coverage, not the yield, is the tripwire here.
- !Payout-coverage check: 50.43% trailing payout ratio — covered, but fuller than a low-payout payer, so less is retained.
- ✓Yield check: 2.74% indicated — $1.71/qtr × 4 at the $249.37 close on Oct. 23, 2026. Real, earned yield, not a special or a return of capital.
- ✓Dividend growth check: 6 years of increases in the dividend history; the latest raise lifted the quarterly dividend from $1.63 to $1.71 in Sep. 2026.
What this grade doesn't say: It screens the dividend only — covered, real, compounding. It says nothing about valuation or price: a well-covered payer can still be overpriced, and its price can still fall.