FirstCash Raises Quarterly Dividend 9.5% to $0.46

FirstCash Holdings raised its quarterly dividend 9.5% to $0.46 per share from $0.42. The stock trades ex-dividend on November 13, 2026, and the payment is due November 24, 2026, bringing the annualized dividend to $1.84 per share.

Why the dividend changed

The increase reflects stronger earnings and cash generation in FirstCash’s pawn operations, rather than a stock split, special dividend or other mechanical adjustment. Management said rising operating cash flow provided capacity for both dividends and share repurchases while the company continued to invest in stores, acquisitions and real estate. Chief Executive Rick Wessel said “shareholder returns remain a priority” as the company announced the higher payment with its third-quarter results. FirstCash’s third-quarter release

Pawn operations supplied the underlying momentum. Third-quarter revenue and segment income from the pawn businesses each increased 28% from a year earlier. Pawn receivables reached a record $908 million, with every geographic segment reporting double-digit growth in same-store pawn receivables and pawn fees. FirstCash also added 14 pawn stores during the quarter and 42 during the first nine months of the year. FirstCash’s SEC-filed earnings exhibit

Cash generation strengthened alongside those results. Operating cash flow for the trailing 12 months rose 18% to $679 million, while adjusted free cash flow rose 27% to $393 million. Management said that cash funded earning-asset growth, store investment, acquisitions, real-estate purchases and shareholder distributions. FirstCash also repurchased $123 million of shares in the third quarter and $250 million during the first nine months of 2026. FirstCash’s third-quarter release

The pending Ramsdens acquisition is an important competing use of capital, but it did not mechanically cause the dividend change. The transaction is intended to expand FirstCash’s United Kingdom pawn-store network. Management said in October that completion remained subject to United Kingdom antitrust approval and other closing conditions. FirstCash’s Ramsdens announcement

Dividend track record

The new rate extends FirstCash’s dividend-growth streak to 9 consecutive years. The five-year record shows 8.2% annual growth, consistent with a policy of measured increases rather than irregular distributions.

Annual payments rose from $1.08 per share in 2020 to $1.17 in 2021, $1.26 in 2022, $1.36 in 2023, $1.46 in 2024 and $1.60 in 2025. The annual increase was 8.3% in 2021, 7.7% in 2022, 7.9% in 2023, 7.4% in 2024 and 9.6% in 2025. That progression shows a stable upward pattern across different operating conditions.

The quarterly record displays the same step-up structure. FirstCash paid $0.38 through May 15, 2025, raised the payment to $0.42 beginning August 15, 2025, and held that rate through August 14, 2026. The move to $0.46 begins the next step in that sequence.

Is the dividend covered?

The dividend consumes 19% of earnings. That leaves most reported profit available for acquisitions, new stores, working capital, debt service, real-estate investment and share repurchases.

SmarterDividends rates the dividend A with a safety score of 85. That grade means very safe (score 80-100). The low earnings payout ratio and the company’s recurring quarterly payment pattern support that assessment, although the dividend remains subject to board approval each quarter.

Yield and valuation

At a share price of $185.35, the forward dividend yield is 1.05%. That is well below the Financial Services sector median forward yield of 5.84%, so the shares provide less current dividend income than the typical company in the sector despite the higher payment.

The annual dividend produces $184.00 of income for every 100 shares. SmarterDividends estimates fair value at $138.52 and assigns the shares an overvalued verdict, with 20% downside to that estimate. The stock’s one-year price return is a 9.1% gain.

What to watch

The immediate dates are November 13, 2026, when the shares trade ex-dividend, and November 24, 2026, when the $0.46 payment is scheduled. Investors must own shares before the ex-dividend date to qualify under normal settlement rules.

Operationally, the fourth quarter will test whether strong pawn demand continues through the holiday period. FirstCash expects double-digit revenue growth and operating-margin expansion from its pawn operations, while its American First Finance business continues to face softness in discretionary, large-ticket retail spending. FirstCash’s third-quarter release

The Ramsdens closing is another concrete capital-allocation item. Management is balancing that proposed expansion and other potential pawn-store acquisitions with dividends, repurchases and organic investment. Progress on regulatory approval, pawn-receivable growth and cash generation will provide the next evidence on how much flexibility remains after the higher dividend.