Curtiss-Wright Raises Quarterly Dividend 8.3% to $0.26

Curtiss-Wright Corporation raised its quarterly dividend 8.3%, from $0.24 to $0.26 per share. The new rate equals $1.04 annually, and the next ex-dividend date is September 25, 2026.

Why the dividend changed

The board presented the increase as part of Curtiss-Wright’s established capital-allocation policy rather than a response to a split, merger or other special situation. Chair and Chief Executive Lynn Bamford said the company intends to increase the dividend steadily in alignment with long-term sales growth while continuing share repurchases, strategic acquisitions and operational investments. The company described the increase as its 10th consecutive annual raise, a longer record than reflected by completed annual payments through 2025. Curtiss-Wright’s dividend announcement provides management’s full capital-allocation rationale.

Operating performance supported that decision. In the first quarter of 2026, Curtiss-Wright reported sales of $914 million, operating income of $160 million and adjusted diluted earnings of $3.48 per share. New orders reached $1.2 billion, and management raised its full-year outlook for sales, operating margin, earnings and free cash flow. The results showed broad growth across aerospace and defense and commercial markets shortly before the dividend declaration. The first-quarter release details the revised outlook.

Later results reinforced that operating context. Second-quarter sales rose to $924 million, adjusted operating margin reached 19.4%, and free cash flow was $160 million. New orders were $1.1 billion, while backlog reached $4.5 billion. Management raised full-year guidance again, citing demand across aerospace and defense and commercial markets. Curtiss-Wright’s second-quarter results also show that the company continued repurchasing shares alongside the higher dividend.

Dividend track record

The first $0.26 dividend went ex-dividend on June 15, 2026, following a $0.24 payment with an ex-dividend date of March 26, 2026. The pattern is consistent with Curtiss-Wright’s recent practice of holding the quarterly rate steady for several payments and then making an annual increase.

Full-year dividends rose from $0.68 in 2020 to $0.71 in 2021, $0.75 in 2022, $0.79 in 2023 and $0.83 in 2024. The 2025 total increased 12.0% to $0.93, the largest annual change in that sequence. Dividend growth has averaged 7.1% annually over five years. The last annual cut occurred in 1991, placing the current run of increases against a much longer period without an annual reduction. Curtiss-Wright’s dividend history confirms the payment sequence.

Is the dividend covered?

The dividend consumes 7% of earnings. That low payout ratio indicates that most earnings remain available for operations, acquisitions, capital spending, debt service and repurchases after the common dividend is paid. It also leaves a substantial earnings buffer if results fluctuate.

SmarterDividends rates the dividend A, with a safety score of 97. The grade means the dividend is considered very safe within the score range of 80-100. The assessment reflects the low earnings payout and the company’s record of maintaining and increasing its distribution. No free-cash-flow payout ratio is included in the coverage assessment.

Yield and valuation

At a share price of $541.42, the $1.04 annual dividend produces a forward yield of 0.19%. That is well below the Industrials sector median forward yield of 1.61%. The dividend therefore provides less current income than the sector benchmark even after the increase.

SmarterDividends’ fair-value estimate is $368.51, compared with the $541.42 share price. The valuation verdict is overvalued, with 35% downside to the estimate. The 4.6% loss in the shares over one year has not closed that assessed valuation gap.

What to watch

The immediate calendar item is the September 25, 2026 ex-dividend date. Investors must own shares before that date to qualify under standard ex-dividend rules. At the new annual rate, 100 shares generate $104.00 in annual dividend income.

The next operating checkpoint is Curtiss-Wright’s third-quarter report. Relevant measures include order growth, backlog conversion, margins and free cash flow, as well as progress against the full-year guidance raised after the second quarter. Those measures provide context for the company’s ability to fund dividends alongside acquisitions, investment and repurchases.

Capital allocation also bears watching. In September, Curtiss-Wright authorized an additional $510 million for repurchases, lifting the available authorization to $700 million, while maintaining the $0.26 quarterly dividend. The company’s SEC-filed announcement shows that buybacks remain the larger and more flexible component of its shareholder-return program.