Cash covers it many times over — but trailing earnings are negative. A $0.79 quarterly dividend at 2.77%, raised from $0.69 in January 2026. Trailing earnings are negative, so the payout is not meaningful on earnings — but the dividend is only 9.02% of cash flow, and Q2 2026 adjusted EPS of $3.93 beat the $3.09 consensus with $199 million of free cash flow in the quarter.
Key risk: Reported earnings are negative — the dividend rides on adjusted results and cash flow, not GAAP earnings.
Changes if: Cash-flow coverage rises past ~40%, or the adjusted earnings beat reverses.
- ✓Cash-flow cover 9.02% of cash flow, per MarketBeat.
- ✕Earnings coverage Negative trailing EPS — payout not meaningful.
- ✓Growth record Raised $0.69 → $0.79 in January 2026; growth-year counts conflict (7–10), so no count claimed.
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.