EMNEastman Chemical CompanyStock — Materials
Yield
5.18%
$3.36 indicated at $64.93
Dividend
$0.84/qtr
Paid Oct 7, 2026; raised from $0.83
Payout ratio
87.7%
Trailing, per StockAnalysis; ~33% of cash flow
Pays
Quarterly
Growth streak counts differ (15–17 years); raise history verified
House verdict
Cash-covered, but the earnings payout is stretched. The 5.18% yield reflects a price roughly 40% below its 2024 highs as much as income strength, and the 87.7% trailing payout is stretched. It stays warn, not bad: the dividend is ordinary cash, it was raised from $0.83, and it takes only about a third of cash flow.
Key risk: Chemical cycles — earnings fell faster than the dividend; another leg down forces a choice between the payout and the balance sheet.
Changes if: Cash-flow coverage deteriorates or a raise is skipped.
- !Payout stretched 87.7% of trailing earnings, per StockAnalysis — high even for a cyclical.
- ✓Covered by cash flow About 33% of cash flow paid out, per MarketBeat.
- !Price fall behind the yield Price roughly 40% off 2024 highs — the yield is partly a falling price.
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.