Evercore Raises Quarterly Dividend 5.9% to $0.89

Evercore Inc. raised its quarterly dividend to $0.89 from $0.84, an increase of 5.9%. The stock traded ex-dividend on May 29, 2026, and the new rate lifts the annual dividend to $3.56 per share.

Why the dividend changed

The increase accompanied a sharp improvement in operating results. Evercore reported record first-quarter net revenue of $1.4 billion, with North American Advisory, Europe, the Middle East and Africa Advisory, Private Capital Advisory, Private Funds Group, Equities and Wealth Management each producing record first-quarter revenue. Advisory fees benefited from more large transactions and a greater number of fees earned during the quarter, according to the first-quarter earnings release.

Chairman and Chief Executive John Weinberg attributed the quarter to strong momentum and Evercore's long-term investment strategy. The firm also continued adding senior bankers in Asia Private Capital Advisory, Healthcare and Equity Capital Markets. Those additions support a broader advisory platform but also raise compensation and other operating costs, which increased alongside business activity and headcount.

Evercore described the dividend as part of a standing capital-return policy. Its investor presentation says the firm intends to grow the per-share dividend as earnings rise, offset equity-compensation dilution through repurchases and use additional cash for repurchases after funding operations and investment. The policy remains subject to future earnings and maintaining liquidity, according to the company presentation. The increase was a regular quarterly capital-return decision, not the result of a stock split, merger, spin-off or special distribution.

Results reported after the increase preserved that operating context. Evercore posted record second-quarter and first-half net revenue of $1.0 billion and $2.4 billion, respectively. North America Strategic Advisory, Private Funds Group and Equities generated record second-quarter revenue, while Underwriting and Wealth Management produced their best quarters on record. The firm cautioned that quarterly performance can fluctuate significantly with the timing and size of transaction fees, making any single period an incomplete measure of earning power. Evercore's second-quarter release did not provide conventional numerical earnings guidance.

Dividend track record

The increase extended Evercore's dividend-growth streak to 18 consecutive years. The payment history shows a deliberate annual step-up rather than frequent changes within a year. The quarterly rate was $0.80 for the November 29, 2024 and February 28, 2025 ex-dividend dates, moved to $0.84 beginning with May 30, 2025, and remained there through February 27, 2026. It then rose to $0.89 for the May 29, 2026 and August 28, 2026 ex-dividend dates.

Annual payments increased from $2.35 per share in 2020 to $3.32 in 2025, with four payments in each year. The annual increase moderated from 12.8% in 2021 to 7.2% in 2022, 5.6% in 2023, 5.3% in 2024 and 5.1% in 2025. That pattern shows consistent growth at a gradually slower rate. The latest 5.9% quarterly increase is slightly larger than the most recent full-year increase.

Is the dividend covered?

The dividend consumes 19% of earnings. That payout ratio indicates Evercore retains most of its earnings after funding the regular distribution, providing room to absorb some of the volatility inherent in transaction-based advisory revenue.

SmarterDividends rates the dividend A, with a safety score of 94. That places it in the “very safe” range of 80-100. The assessment reflects the low earnings payout and the established record of annual increases, while the company's warning about uneven quarterly results remains relevant when judging coverage from one period to the next.

Yield and valuation

At a share price of $255.07, Evercore's forward dividend yield is 1.37%, well below the Financial Services sector median of 5.70%. The lower yield means the shares produce less current dividend income than the sector median despite the long growth record.

SmarterDividends estimates fair value at $495.33 and classifies the shares as undervalued. The stock's one-year price return fell 10.9%. The valuation assessment is separate from dividend safety: the former compares the market price with estimated business value, while the latter evaluates the capacity to sustain the distribution.

What to watch

The next quarterly report will provide the clearest update on advisory-fee momentum, operating margins and the balance sheet supporting capital returns. Transaction timing is especially important because Evercore has said large advisory fees can make quarterly results unusually uneven.

Execution of the hiring program is another concrete item. Evercore said seven additional investment-banking senior managing directors had committed to join in areas including restructuring, healthcare, chemicals and equity capital markets, along with two hires in Frankfurt. Investors can track how those additions affect revenue capacity and compensation costs.

For the dividend, the immediate marker is whether the quarterly rate remains $0.89 after two 2026 ex-dividend dates at that level. The 19% earnings payout ratio, capital allocated to repurchases and management's commitment to preserve liquidity provide the main measures for evaluating the next declaration.