SmarterDividends
AAON

AAON, Inc.

AAON

Industrials · Building Products & Equipment · Stock · quarterly payer

$73.73

Overvalued · -33% Add to Portfolio

Forward Yield

0.54%

Annual Dividend

$0.40

Payout Ratio

21%

5-Yr Growth

-4.6%

Ex-Date

Sep 4, 2026

Frequency

Quarterly

Key facts about AAON's dividend

Data as of · Source: SmarterDividends data

  • As of Oct 18, 2026, AAON, Inc. (AAON) has a forward dividend yield of 0.54%, based on an annual dividend of $0.40 per share and a share price of $73.73.
  • As of Oct 18, 2026, AAON's dividend safety grade from SmarterDividends is C (65 out of 100), which rates the dividend as borderline.
  • AAON last cut its regular dividend in 2023.
  • AAON's most recent ex-dividend date was Sep 4, 2026, for a dividend of $0.10 per share.
  • As of Oct 18, 2026, AAON pays out 21% of its trailing 12-month earnings as dividends (its payout ratio).
  • AAON's dividend has shrunk at an average rate of 4.6% a year over the past five years.
  • As of Oct 18, 2026, SmarterDividends' blended fair-value estimate for AAON is $49.64 per share, 33% below the $73.73 share price, so AAON screens as overvalued.
  • AAON, Inc. (AAON) pays its dividend quarterly, 4 times a year.
  • AAON, Inc. (AAON) has raised its regular dividend 11 times and cut it 2 times across the 49 payments on record since 2006. Its most recent change was a 25.0% increase to $0.100 per share, going ex-dividend on Mar 18, 2025. The last cut went ex-dividend on Mar 10, 2023.
Cite this page

SmarterDividends, "AAON Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 18, 2026, https://smarterdividends.com/stocks/AAON

Summary

As of Oct 18, 2026, AAON, Inc. (AAON) yields 0.54% ($0.40 a year per share) and has a dividend safety grade of C (65/100).

Is AAON a good dividend stock?

Yes, with caveats

AAON, Inc. (AAON) pays a quarterly dividend yielding 0.54% ($0.40/yr), with 1 year of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying.

Advantages

  • Comfortable payout ratio (21%)
  • 42% total price return over 5 years

Risks

  • Cut its dividend in 2023
  • Dividend has been shrinking, not growing

Key Data

Dividend Yield
0.54%
Payout Ratio
21%
Annual Dividend
$0.40
5-Yr Avg Growth
-4.6%
Ex-Dividend Date
Sep 4, 2026
Years of Growth
1
Frequency
quarterly
Beta
1.41
Market Cap
$6.1B
P/E Ratio
38.8
5-Yr Total Return
42%
52-Week Range
$73.19 – $150.46
Dividend Safety
C · 65/100
Ever Cut?
Yes (2023)

AAON dividend raises and cuts

AAON, Inc. (AAON) has raised its regular dividend 11 times and cut it 2 times across the 49 payments on record since 2006. Its most recent change was a 25.0% increase to $0.100 per share, going ex-dividend on Mar 18, 2025. The last cut went ex-dividend on Mar 10, 2023.

Ex-dateChangeOld → newMove
Mar 18, 2025Raise$0.0800 → $0.100+25.0%
Mar 10, 2023Cut$0.160 → $0.0800−50.0%
Nov 25, 2022Raise$0.127 → $0.160+26.3%
Jun 2, 2020Raise$0.107 → $0.127+18.7%
Jun 7, 2018Raise$0.0867 → $0.107+23.1%
Nov 30, 2016Raise$0.0733 → $0.0867+18.2%
Jun 10, 2015Raise$0.0600 → $0.0733+22.2%
Nov 28, 2014Raise$0.0578 → $0.0600+3.8%
Jun 10, 2014Raise$0.0444 → $0.0578+30.0%
Nov 27, 2013Raise$0.0296 → $0.0444+50.0%
Jun 11, 2013Cut$0.0356 → $0.0296−16.7%
Jun 9, 2009Raise$0.0316 → $0.0356+12.5%
Show all 13 changes since 2007
Ex-dateChangeOld → newMove
Dec 11, 2007Raise$0.0263 → $0.0316+20.0%
Every AAON payment →Download every raise and cut (CSV)
AAON ex-dividend date & scheduleNext ex-date Sep 4, 2026 · full ex-dividend historyView →AAON dividend historyEvery payment, totals by year, raises and cutsView →

Frequently Asked Questions

Is AAON a good dividend stock?

Yes, with caveats. AAON, Inc. (AAON) pays a quarterly dividend yielding 0.54% ($0.40/yr), with 1 year of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying.

Is AAON undervalued?

Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, AAON's fair value is about $49.64 versus a $73.73 share price — so it looks overvalued (-33% vs. fair value).

Is AAON's dividend safe?

AAON has a dividend-safety grade of C (65/100), based on its payout coverage, free-cash-flow, 1-year growth streak, a dividend cut in 2023, debt and yield-versus-history.

What is AAON's fair value?

Our blended fair-value estimate for AAON is about $49.64 per share, about 33% below the current $73.73 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

Is AAON a buy, hold, or sell?

We don't issue formal ratings, but on the data AAON screens as "yes, with caveats" and overvalued. AAON, Inc. (AAON) pays a quarterly dividend yielding 0.54% ($0.40/yr), with 1 year of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying. This is research for your own analysis, not investment advice.

Will AAON cut its dividend?

AAON earns a dividend-safety grade of C (65/100), and has cut its dividend before (last in 2023). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

Does AAON pay a dividend?

Yes. AAON, Inc. pays a quarterly dividend of about $0.40 per share annually, a forward yield of roughly 0.54%.

What is AAON's dividend yield?

As of Oct 18, 2026, AAON's forward dividend yield is 0.54%, based on a $0.40 annual dividend and a $73.73 share price.

What is AAON's dividend per share?

As of Oct 18, 2026, AAON pays $0.40 per share per year, distributed on a quarterly basis.

What is AAON's dividend payout ratio?

As of Oct 18, 2026, AAON's payout ratio is 21% of trailing 12-month earnings — a comfortable level that leaves room to keep raising the dividend.

How many years has AAON grown its dividend?

As of Oct 18, 2026, AAON has increased its dividend for 1 consecutive years.

When is the next AAON ex-dividend date?

As of Oct 18, 2026, AAON's next ex-dividend date hasn't been announced. The most recent was Sep 4, 2026, for $0.10 per share.

Income Calculator

At $0.40 / yr per share

Per payment (quarterly)$10.00
Annual$40.00
Monthly avg$3.33

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