Covered, compounding — after a steep price fall. A 4.69% yield on a 27.08% trailing payout is covered and growing: $0.44 a quarter, raised from $0.40 at the start of 2026. The yield is flattered by a price down roughly 44% over the past year to the $37.53 close on Oct. 23, 2026 — but with a payout this low and a raise in the current year, the dividend itself passes the House checks.
Key risk: Transition execution — the price fall reflects a business still digesting the Worldpay separation and the acquired issuer-processing business, and a further leg down would test whether the payout stays a priority.
Changes if: The trailing payout pushes past roughly 60%, or the dividend is frozen. Either would say the price fall was a warning, not just a cheaper entry.
- ✓Payout-coverage check: 27.08% trailing payout — the $1.76 indicated dividend is well covered by trailing earnings.
- ✓Yield check: 4.69% indicated — $0.44/qtr × 4 at the $37.53 close on Oct. 23, 2026. Real, earned cash dividend, not a special or a return of capital — though part of the yield is a fallen price, not a raised rate.
- ✓Dividend growth check: Raised at the start of 2026, from $0.40 to $0.44 a quarter, 10% growth.
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.