Amphenol Raises Quarterly Dividend 20.0% to $0.15

Amphenol Corporation raised its quarterly dividend 20.0% to $0.15 a share from $0.125. APH shares next trade ex-dividend on December 22, 2026, and payment is scheduled for January 13, 2027.

Why the dividend changed

The board acted after a record third quarter in which sales reached $10.2 billion, rising 65% from a year earlier and 37% organically. Adjusted diluted earnings per share increased 74% to $0.80. Amphenol attributed the performance to strong organic growth across most end markets, particularly IT datacom, combined with contributions from acquisitions. Orders of $12.2 billion produced a book-to-bill ratio of 1.19 to 1, indicating that orders exceeded quarterly sales. Amphenol’s third-quarter results

Cash generation supplied the immediate financial support. Amphenol reported $2.1 billion of operating cash flow and $1.6 billion of free cash flow for the quarter. The company described the dividend as one part of a broader use of its financial strength, alongside acquisitions and repurchases. It bought 3.0 million shares for $245 million during the quarter and authorized a new three-year, $4 billion repurchase program. The framing is consistent with management’s earlier description of its capital allocation as flexible and balanced. Amphenol investor presentation

The increase also came during an acquisition-heavy period. Amphenol completed the CommScope Connectivity and Cable Solutions acquisition earlier in 2026, and its latest outlook reflects better-than-expected performance from that business. The company also completed its Empire Electronics purchase and signed agreements for AdvancedPCB, Dexgreen Limited and Humanetics Sensors. An earlier filing showed that acquisition spending, primarily for CommScope, dominated first-half investing cash use. Amphenol’s second-quarter Form 10-Q

Dividend track record

The latest four payments were each $0.125, with ex-dividend dates from December 16, 2025, through September 22, 2026. The preceding four payments were each $0.0825. The new $0.15 rate therefore continues a pattern of periodic, sizable step-ups rather than small changes every quarter.

Annual distributions rose from $0.13 in 2020 to $0.16 in 2021, $0.20 in 2022 and $0.21 in 2023. Growth then accelerated: the annual total increased 29.4% to $0.28 in 2024 and 35.4% to $0.37 in 2025. The dividend has grown for 14 consecutive years, with 21.4% annual growth over the latest five-year period. There is no recorded annual cut in that history.

A two-for-one stock split preceded the latest increase. Amphenol said the per-share figures in its third-quarter release were adjusted for the split. The move from $0.125 to $0.15 is therefore a genuine 20.0% increase rather than a mechanical change caused by the split. Amphenol’s third-quarter results

Is the dividend covered?

The dividend consumes 23% of earnings. That means most earnings remain available for reinvestment, acquisitions, debt obligations and repurchases after the distribution. The relatively low earnings payout ratio provides a meaningful buffer against ordinary fluctuations in profit.

SmarterDividends rates the dividend A, with a safety score of 93. That grade means very safe within the score range of 80 to 100. The assessment reflects the low earnings payout, established growth record and supporting cash generation, although the company’s acquisition program also places competing demands on capital.

The latest quarterly results reinforce that coverage picture without changing the payout-ratio measure. Free cash flow reached $1.6 billion while management continued funding acquisitions and share repurchases. The next filings will show how cash conversion develops as CommScope and other acquired operations are integrated.

Yield and valuation

At a share price of $82.08, Amphenol’s forward yield is 0.74%. That trails the Technology sector median forward yield of 1.32%. The dividend therefore offers less current income than the sector midpoint, even after the increase. The annual dividend is $0.60 per share, equal to $60.00 of annual income for every 100 shares.

SmarterDividends estimates fair value at $52.25 and classifies the shares as overvalued, corresponding to 29% downside to that estimate. The valuation gap helps explain why the yield remains below the sector median despite 21.4% annual dividend growth over five years.

What to watch

The next concrete dividend milestone is the December 22, 2026, ex-dividend date, followed by payment on January 13, 2027. Investors must own shares before the ex-dividend date to qualify under standard market settlement rules.

Operationally, Amphenol guided for fourth-quarter sales of $10.3 billion to $10.5 billion and adjusted diluted earnings per share of $0.81 to $0.83. It expects the AdvancedPCB and Humanetics Sensors acquisitions to close in the fourth quarter of 2026 and Dexgreen in the first quarter of 2027, subject to customary approvals. Future results will provide evidence on CommScope integration, IT datacom demand, cash conversion and the balance among acquisitions, repurchases and the higher dividend. Amphenol’s outlook and acquisition update