Trailing Dividend / Share
$1.14
Arrow Financial Corporation (AROW) Dividend History
Income profile from 1985 to 2026 with payout safety and yield-on-cost trend
Dividend Yield
2.9%
Payout Ratio
43.0%
Sustainable
Dividend Streak
4 years
AROW Dividend Income Check
Safety
43.0% payout ratio with sustainable safety profile.
Consistency
4 straight years of dividend increases.
Income Trend
Yield on cost is 4.2% and trend is rising.
AROW Dividend Scorecard
Yield & Income
Dividend Yield2.9%
Trailing DPS$1.14
FrequencySemi-Annual
Payments / 12M4
Payout Safety
Earnings Payout43.0%
Earnings SafetySustainable
FCF Payout52.2%
FCF SafetyAdequate
Piotroski F-Score7/9
Growth
Growth Streak4 years
3Y CAGR2.6%
5Y CAGR2.5%
Yield on Cost (5Y)4.2%
YOC Trendrising
Total Returns
Buyback Yield1.6%
Total Shareholder Yield4.5%
1Y Total Return60.4%
5Y Total Return33.7%
Div Contribution (5Y)16.5%
Estimated $10K growth (return + dividends):
5Y ago$13,37110Y ago$21,02620Y ago$36,600
Uses precomputed total return metrics from screening data (not lot-by-lot dividend reinvestment transactions). Different time windows can produce different outcomes depending on market regime and entry point.
AROW Income Growth Story
Dividend per share and yield on cost over time (42 years of payments)
AROW Dividend Safety Story
EPS is the container — dividend is what's drawn out
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Dividend Analysis
Payout Safety
Arrow Financial Corporation distributes 43.0% of earnings as dividends (Sustainable). When measured against free cash flow—a stricter test—the payout ratio stands at 52.2%, rated "Adequate".
Piotroski F-Score: 7/9 — strong financial health.
Growth Track Record
AROW has raised its dividend for 4 consecutive years, with a 3-year CAGR of 2.6% and 5-year CAGR of 2.5%.
Total Shareholder Returns
Beyond cash dividends, AROW returns capital through share repurchases. The combined picture: 2.9% dividend yield, 1.6% buyback yield, 4.5% total shareholder yield.
Income Trend & Total Return
Yield on cost (5-year basis) has reached 4.2% and is currently rising. The 5-year total return is 33.7%, with dividends contributing 16.5% of that performance.
DRIP Growth
A $10,000 investment made 10 years ago with dividends reinvested would have grown to approximately $21,026 today.
AROW Recent Dividend Payments
Last 20 payments · Semi-Annual
TTM Total$5.47
Avg/Payment$0.2736
| Ex-Date | Amount | Change | Yield % | Payment Date |
|---|---|---|---|---|
| May 12, 2026Latest | $0.3000 | — | 3.29% | May 26, 2026 |
| Feb 11, 2026 | $0.3000 | ↑ +3.4% | 3.32% | Feb 25, 2026 |
| Nov 12, 2025 | $0.2900 | — | 3.73% | Nov 24, 2025 |
| Aug 11, 2025 | $0.2900 | ↑ +3.6% | 4.11% | Aug 25, 2025 |
| May 13, 2025 | $0.2800 | — | 4.17% | May 23, 2025 |
| Feb 10, 2025 | $0.2800 | — | 4.14% | Feb 24, 2025 |
| Oct 15, 2024 | $0.2800 | ↑ +3.7% | 3.73% | Oct 29, 2024 |
| Aug 12, 2024 | $0.2700 | — | 3.93% | Aug 23, 2024 |
AROW Dividend vs Peers
Comparable companies in the same industry
#4 yield in peer group
Div Yield
2.9%
#4 of 9
Safety
Sustainable
43.0% payout
Streak
4Y
2.5% 5Y CAGR
Total Shareholder
4.5%
#5 of 9
| Company | Mkt Cap | Yield | Payout | Streak | Safety |
|---|---|---|---|---|---|
| AROWArrow Financial Corp… | $641M | 2.9% | 43.0% | 4 | Sustainable |
 CZWICitizens Community B… | $205M | 1.7% | 25.0% | 6 | Sustainable |
 FUNCFirst United Corpora… | $277M | 2.2% | 24.3% | 7 | Sustainable |
1st  NECBNortheast Community … | $356M | 3.8% | 30.0% | 2 | Sustainable |
 TRSTTrustCo Bank Corp NY | $925M | 2.9% | 45.2% | 1 | Sustainable |
 CHMGChemung Financial Co… | $341M | 1.9% | 41.9% | 1 | Sustainable |
2nd  FISIFinancial Institutio… | $735M | 3.3% | 33.0% | 1 | Sustainable |
3rd  NBTBNBT Bancorp Inc. | $2.4B | 3.1% | 42.9% | 13 | Sustainable |
 STBAS&T Bancorp, Inc. | $1.7B | 2.9% | 39.4% | 13 | Sustainable |
AROW Annual Dividend History (1985–2026)
42 years of dividend data
GrowthDecline
| Year | DPS | YoY | Pmts | EPS | Payout | Coverage | YOC |
|---|---|---|---|---|---|---|---|
| 2026YTD | $0.60 | — | 2 | — | — | — | 2.2% |
| 2025 | $1.14 | 4.6% | 4 | $2.65 | 43.0% | 2.32x | 4.2% |
| 2024 | $1.09 | 0.9% | 4 | $1.77 | 61.6% | 1.62x | 4.0% |
| 2023 | $1.08 | 2.2% | 4 | $1.77 | 61.0% | 1.64x | 3.9% |
| 2022 | $1.06 | 4.6% | 4 | $2.86 | 36.9% | 2.71x | 3.9% |
| 2021 | $1.01 | 0.0% | 4 | $2.92 | 34.6% | 2.89x | 3.7% |
| 2020 | $1.01 | 2.2% | 4 | $2.41 | 41.9% | 2.39x | 3.7% |
| 2019 | $0.99 | 5.0% | 4 | $2.22 | 44.5% | 2.25x | 3.6% |
| 2018 | $0.94 | 5.1% | 4 | $2.22 | 42.4% | 2.36x | 3.4% |
| 2017 | $0.90 | 0.8% | 4 | $1.81 | 49.5% | 2.02x | 3.3% |
Consensus-Based Analysis Tools
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
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Historical Returns
41+ years return with dividends reinvested.
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DCA Calculator
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Peer Comparison
Compare growth, multiples, and margins vs sector.
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AROW — Frequently Asked Questions
Quick answers to the most common questions about buying AROW stock.
How much dividend does AROW pay per share?
Arrow Financial Corporation (AROW) pays a trailing 12-month dividend of $1.14 per share, with a current dividend yield of +2.9%. Payments are made Semi-Annual.
When is AROW's next ex-dividend date?
AROW's most recent ex-dividend date is N/A. You must own shares before the ex-dividend date to receive the next payment. AROW typically pays dividends Semi-Annual.
Is AROW's dividend safe?
AROW's dividend safety is rated "Sustainable" based on an earnings payout ratio of +43.0% and FCF payout ratio of +52.2%. The 4-year growth streak provides moderate confidence.
Is AROW a Dividend Payer?
Yes, Arrow Financial Corporation is classified as a Dividend Payer with 4 consecutive years of dividend increases. The 5-year dividend CAGR is +2.5%, demonstrating modest dividend growth.
How often does AROW pay dividends?
Arrow Financial Corporation pays dividends Semi-Annual. The trailing 12-month total is $1.14 per share. Dividend data on this page covers 41+ years from 1985 to 2026.
How much would $10,000 invested in AROW grow with dividend reinvestment?
With dividends reinvested (DRIP), $10,000 invested in AROW five years ago would be worth approximately $13,371 today. This includes both price appreciation and compounded dividend reinvestment. Use the DRIP calculator above for other time periods.
What is AROW's yield on cost for long-term holders?
AROW's yield on cost — the current dividend divided by the original purchase price — is +4.2% for a 5-year holding period. This means long-term holders earn a higher effective yield than today's +2.9% market yield, thanks to consistent dividend growth.