Trailing Dividend / Share
$1.75
Lincoln National Corporation (LNC) Dividend History
Income profile from 1985 to 2026 with payout safety and yield-on-cost trend
Dividend Yield
4.7%
Payout Ratio
27.6%
Sustainable
Dividend Streak
0 years
LNC Dividend Income Check
Safety
27.6% payout ratio with sustainable safety profile.
Consistency
0 straight years of dividend increases.
Income Trend
Yield on cost is 3.7% and trend is rising.
LNC Dividend Scorecard
Yield & Income
Dividend Yield4.7%
Trailing DPS$1.75
FrequencyQuarterly
Payments / 12M5
Payout Safety
Earnings Payout27.6%
Earnings SafetySustainable
FCF Payout137.4%
FCF SafetyStretched
Piotroski F-Score3/9
Growth
Growth Streak0 years
3Y CAGR0.0%
5Y CAGR2.4%
Yield on Cost (5Y)3.7%
YOC Trendrising
Total Returns
Buyback Yield0.0%
Total Shareholder Yield4.7%
1Y Total Return17.5%
5Y Total Return-22.4%
Div Contribution (5Y)15.0%
Estimated $10K growth (return + dividends):
5Y ago$7,75910Y ago$12,44420Y ago$10,874
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.
LNC Income Growth Story
Dividend per share and yield on cost over time (42 years of payments)
LNC Dividend Safety Story
EPS is the container — dividend is what's drawn out
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Dividend Analysis
Payout Safety
Lincoln National Corporation distributes 27.6% of earnings as dividends (Sustainable). When measured against free cash flow—a stricter test—the payout ratio stands at 137.4%, rated "Stretched".
Piotroski F-Score: 3/9 — weak financial health.
Growth Track Record
LNC does not have a current streak of consecutive dividend increases, with a 3-year CAGR of 0.0% and 5-year CAGR of 2.4%.
Total Shareholder Returns
Beyond cash dividends, LNC returns capital through share repurchases. The combined picture: 4.7% dividend yield, 4.7% total shareholder yield.
Income Trend & Total Return
Yield on cost (5-year basis) has reached 3.7% and is currently rising. The 5-year total return is -22.4%, with dividends contributing 15.0% of that performance.
DRIP Growth
A $10,000 investment made 10 years ago with dividends reinvested would have grown to approximately $12,444 today.
FCF payout is stretched — the dividend consumes a large share of free cash flow.
LNC Recent Dividend Payments
Last 20 payments · Quarterly
TTM Total$8.97
Avg/Payment$0.4485
| Ex-Date | Amount | Change | Yield % | Payment Date |
|---|---|---|---|---|
| Jul 10, 2026Latest | $0.4500 | — | 4.84% | Aug 3, 2026 |
| Apr 10, 2026 | $0.4500 | — | 5.26% | May 1, 2026 |
| Jan 12, 2026 | $0.4500 | — | 4.30% | Feb 2, 2026 |
| Oct 10, 2025 | $0.4500 | — | 4.73% | Nov 3, 2025 |
| Jul 10, 2025 | $0.4500 | — | 5.26% | Aug 1, 2025 |
| Apr 10, 2025 | $0.4500 | — | 6.04% | May 1, 2025 |
| Jan 10, 2025 | $0.4500 | — | 5.99% | Feb 3, 2025 |
| Oct 10, 2024 | $0.4500 | — | 5.73% | Nov 1, 2024 |
LNC Dividend vs Peers
Comparable companies in the same industry
#2 yield in peer group
Div Yield
4.7%
#2 of 9
Safety
Sustainable
27.6% payout
Streak
0Y
2.4% 5Y CAGR
Total Shareholder
4.7%
#9 of 9
| Company | Mkt Cap | Yield | Payout | Streak | Safety |
|---|---|---|---|---|---|
2nd LNCLincoln National Cor… | $7.1B | 4.7% | 27.6% | 0 | Sustainable |
1st  PRUPrudential Financial… | $37.1B | 5.2% | 53.9% | 17 | Sustainable |
 METMetLife, Inc. | $55.8B | 2.7% | 44.7% | 13 | Sustainable |
 UNMUnum Group | $14.5B | 2.0% | 41.5% | 17 | Sustainable |
3rd  PFGPrincipal Financial … | $23.7B | 2.8% | 57.7% | 17 | Sustainable |
 GLGlobe Life Inc. | $13.4B | 0.6% | 7.4% | 14 | Sustainable |
 CNOCNO Financial Group,… | $4.8B | 1.3% | 28.9% | 14 | Sustainable |
 AFLAflac Incorporated | $59.5B | 2.0% | 32.9% | 42 | Sustainable |
 AIGAmerican Internation… | $39.7B | 2.3% | 31.5% | 3 | Sustainable |
LNC Annual Dividend History (1985–2026)
42 years of dividend data
GrowthDecline
| Year | DPS | YoY | Pmts | EPS | Payout | Coverage | YOC |
|---|---|---|---|---|---|---|---|
| 2026YTD | $1.35 | — | 3 | — | — | — | 2.8% |
| 2025 | $1.80 | 0.0% | 4 | $5.84 | 30.8% | 3.24x | 3.7% |
| 2024 | $1.80 | 0.0% | 4 | $18.41 | 9.8% | 10.23x | 3.7% |
| 2023 | $1.80 | 0.0% | 4 | $-4.92 | — | — | 3.7% |
| 2022 | $1.80 | 7.1% | 4 | $7.78 | 23.1% | 4.32x | 3.7% |
| 2021 | $1.68 | 5.0% | 4 | $7.43 | 22.6% | 4.42x | 3.4% |
| 2020 | $1.60 | 8.1% | 4 | $2.57 | 62.3% | 1.61x | 3.3% |
| 2019 | $1.48 | 12.1% | 4 | $4.38 | 33.8% | 2.96x | 3.0% |
| 2018 | $1.32 | 13.8% | 4 | $7.47 | 17.7% | 5.66x | 2.7% |
| 2017 | $1.16 | 16.0% | 4 | $9.22 | 12.6% | 7.95x | 2.4% |
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
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LNC — Frequently Asked Questions
Quick answers to the most common questions about buying LNC stock.
How much dividend does LNC pay per share?
Lincoln National Corporation (LNC) pays a trailing 12-month dividend of $1.75 per share, with a current dividend yield of +4.7%. Payments are made Quarterly.
When is LNC's next ex-dividend date?
LNC's most recent ex-dividend date is N/A. You must own shares before the ex-dividend date to receive the next payment. LNC typically pays dividends Quarterly.
Is LNC's dividend safe?
LNC's dividend safety is rated "Sustainable" based on an earnings payout ratio of +27.6% and FCF payout ratio of +137.4%. The dividend history does not yet show a prolonged growth streak.
How many years has LNC increased its dividend?
LNC has not maintained a consecutive growth streak recently. The 5-year dividend CAGR is +2.4%.
How often does LNC pay dividends?
Lincoln National Corporation pays dividends Quarterly. The trailing 12-month total is $1.75 per share. Dividend data on this page covers 41+ years from 1985 to 2026.
How much would $10,000 invested in LNC grow with dividend reinvestment?
With dividends reinvested (DRIP), $10,000 invested in LNC five years ago would be worth approximately $7,759 today. This includes both price appreciation and compounded dividend reinvestment. Use the DRIP calculator above for other time periods.
What is LNC's yield on cost for long-term holders?
LNC's yield on cost — the current dividend divided by the original purchase price — is +3.7% for a 5-year holding period. This means long-term holders earn a higher effective yield than today's +4.7% market yield, thanks to consistent dividend growth.