SmarterDividends
AROW

Arrow Financial Corporation

AROW

Financial Services · Banks - Regional · Stock · quarterly payer

$36.85

Undervalued · +51% Add to Portfolio

Forward Yield

3.25%

Annual Dividend

$1.20

Payout Ratio

38%

5-Yr Growth

2.5%

Ex-Date

Aug 11, 2026

Frequency

Quarterly

Key facts about AROW's dividend

Data as of · Source: SmarterDividends data

  • As of Oct 18, 2026, Arrow Financial Corporation (AROW) has a forward dividend yield of 3.25%, based on an annual dividend of $1.20 per share and a share price of $36.85.
  • As of Oct 18, 2026, AROW's dividend safety grade from SmarterDividends is A (95 out of 100), which rates the dividend as very safe.
  • By SmarterDividends' count, Arrow Financial Corporation (AROW) has raised its dividend for 4 consecutive years as of Oct 18, 2026.
  • AROW last cut its regular dividend in 1994.
  • AROW's most recent ex-dividend date was Aug 11, 2026, for a dividend of $0.30 per share.
  • As of Oct 18, 2026, AROW pays out 38% of its trailing 12-month earnings as dividends (its payout ratio).
  • AROW's dividend has grown at an average rate of 2.5% a year over the past five years.
  • As of Oct 18, 2026, AROW's 3.25% yield is 15% below its five-year average yield of 3.81%.
  • As of Oct 18, 2026, SmarterDividends' blended fair-value estimate for AROW is $55.59 per share, 51% above the $36.85 share price, so AROW screens as undervalued.
  • Arrow Financial Corporation (AROW) pays its dividend quarterly, 4 times a year.
  • Arrow Financial Corporation (AROW) has raised its regular dividend 52 times and cut it 4 times across the 155 payments on record since 1987. Its most recent change was a 3.4% increase to $0.300 per share, going ex-dividend on Feb 11, 2026. The last cut went ex-dividend on Sep 7, 1993.
Cite this page

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

Summary

As of Oct 18, 2026, Arrow Financial Corporation (AROW) yields 3.25% ($1.20 a year per share), has a dividend safety grade of A (95/100) and has 4 consecutive years of dividend increases on record.

Is AROW a good dividend stock?

Yes

Arrow Financial Corporation (AROW) pays a quarterly dividend yielding 3.25% ($1.20/yr), with 4 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.

Advantages

  • Comfortable payout ratio (38%)
  • Top-tier dividend safety score

Risks

  • Cut its dividend in 1994

Key Data

Dividend Yield
3.25%
Payout Ratio
38%
Annual Dividend
$1.20
5-Yr Avg Growth
2.5%
Ex-Dividend Date
Aug 11, 2026
Years of Growth
4
Frequency
quarterly
Beta
0.73
Market Cap
$682.6M
P/E Ratio
11.9
5-Yr Total Return
10%
52-Week Range
$26.17 – $42.70
Dividend Safety
A · 95/100
Ever Cut?
Yes (1994)

AROW dividend raises and cuts

Arrow Financial Corporation (AROW) has raised its regular dividend 52 times and cut it 4 times across the 155 payments on record since 1987. Its most recent change was a 3.4% increase to $0.300 per share, going ex-dividend on Feb 11, 2026. The last cut went ex-dividend on Sep 7, 1993.

Ex-dateChangeOld → newMove
Feb 11, 2026Raise$0.290 → $0.300+3.4%
Aug 11, 2025Raise$0.280 → $0.290+3.6%
Oct 15, 2024Raise$0.270 → $0.280+3.7%
Nov 30, 2022Raise$0.262 → $0.270+3.0%
Feb 28, 2022Raise$0.252 → $0.262+3.8%
Dec 2, 2019Raise$0.245 → $0.252+3.0%
Nov 29, 2018Raise$0.238 → $0.245+3.0%
Aug 30, 2018Raise$0.229 → $0.238+4.0%
Nov 30, 2017Raise$0.222 → $0.229+3.0%
Dec 1, 2015Raise$0.218 → $0.222+2.0%
Dec 1, 2014Raise$0.213 → $0.218+2.0%
Dec 2, 2013Raise$0.209 → $0.213+2.0%
Show all 56 changes since 1987
Ex-dateChangeOld → newMove
Nov 29, 2012Raise$0.205 → $0.209+2.0%
Nov 30, 2011Raise$0.199 → $0.205+3.0%
Dec 1, 2010Raise$0.193 → $0.199+3.0%
Dec 1, 2009Raise$0.188 → $0.193+3.0%
Sep 2, 2008Raise$0.180 → $0.188+4.2%
Nov 30, 2007Raise$0.175 → $0.180+3.0%
Dec 1, 2006Raise$0.170 → $0.175+3.0%
Dec 5, 2005Raise$0.165 → $0.170+3.0%
Sep 2, 2005Raise$0.158 → $0.165+4.3%
Nov 26, 2004Raise$0.154 → $0.158+3.0%
May 26, 2004Raise$0.147 → $0.154+4.5%
Nov 25, 2003Raise$0.139 → $0.147+5.8%
May 28, 2003Raise$0.133 → $0.139+4.0%
Nov 26, 2002Raise$0.127 → $0.133+5.0%
May 29, 2002Raise$0.117 → $0.127+8.7%
Nov 28, 2001Raise$0.111 → $0.117+5.0%
May 30, 2001Raise$0.102 → $0.111+9.5%
Nov 29, 2000Raise$0.0969 → $0.102+5.0%
May 30, 2000Raise$0.0920 → $0.0969+5.3%
Nov 26, 1999Raise$0.0891 → $0.0920+3.3%
Aug 30, 1999Raise$0.0852 → $0.0891+4.5%
Nov 25, 1998Raise$0.0814 → $0.0852+4.8%
Aug 27, 1998Raise$0.0806 → $0.0814+1.0%
Jul 30, 1998Raise$0.0740 → $0.0806+9.0%
Nov 26, 1997Raise$0.0671 → $0.0740+10.3%
Nov 27, 1996Raise$0.0518 → $0.0671+29.4%
Feb 28, 1996Raise$0.0488 → $0.0518+6.2%
Nov 29, 1995Raise$0.0457 → $0.0488+6.7%
Aug 30, 1995Raise$0.0427 → $0.0457+7.1%
May 25, 1995Raise$0.0396 → $0.0427+7.7%
Feb 23, 1995Raise$0.0366 → $0.0396+8.3%
Nov 25, 1994Raise$0.0335 → $0.0366+9.1%
Aug 26, 1994Raise$0.0244 → $0.0335+37.5%
May 25, 1994Raise$0.0213 → $0.0244+14.3%
Feb 23, 1994Raise$0.0183 → $0.0213+16.7%
Nov 24, 1993Raise$0.0152 → $0.0183+20.0%
Sep 7, 1993Cut$0.0290 → $0.0152−47.4%
Nov 9, 1992Cut$0.0296 → $0.0290−2.1%
Aug 9, 1991Cut$0.0305 → $0.0296−3.0%
May 1, 1991Cut$0.0549 → $0.0305−44.4%
Jul 26, 1990Raise$0.0518 → $0.0549+5.9%
Jan 18, 1990Raise$0.0488 → $0.0518+6.2%
Oct 18, 1988Raise$0.0427 → $0.0488+14.3%
Oct 19, 1987Raise$0.0412 → $0.0427+3.7%
Every AROW payment →Download every raise and cut (CSV)
AROW ex-dividend date & scheduleNext ex-date Aug 11, 2026 · full ex-dividend historyView →AROW dividend historyEvery payment, totals by year, raises and cutsView →

Frequently Asked Questions

Is AROW a good dividend stock?

Yes. Arrow Financial Corporation (AROW) pays a quarterly dividend yielding 3.25% ($1.20/yr), with 4 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.

Is AROW undervalued?

Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, AROW's fair value is about $55.59 versus a $36.85 share price — so it looks undervalued (+51% vs. fair value).

Is AROW's dividend safe?

AROW has a dividend-safety grade of A (95/100), based on its payout coverage, free-cash-flow, 4-year growth streak, a dividend cut in 1994, debt and yield-versus-history.

What is AROW's fair value?

Our blended fair-value estimate for AROW is about $55.59 per share, roughly 51% above the current $36.85 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

Is AROW a buy, hold, or sell?

We don't issue formal ratings, but on the data AROW screens as "yes" and undervalued. Arrow Financial Corporation (AROW) pays a quarterly dividend yielding 3.25% ($1.20/yr), with 4 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding. This is research for your own analysis, not investment advice.

Will AROW cut its dividend?

AROW earns a dividend-safety grade of A (95/100), and has cut its dividend before (last in 1994). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

Does AROW pay a dividend?

Yes. Arrow Financial Corporation pays a quarterly dividend of about $1.20 per share annually, a forward yield of roughly 3.25%.

What is AROW's dividend yield?

As of Oct 18, 2026, AROW's forward dividend yield is 3.25%, based on a $1.20 annual dividend and a $36.85 share price.

What is AROW's dividend per share?

As of Oct 18, 2026, AROW pays $1.20 per share per year, distributed on a quarterly basis.

What is AROW's dividend payout ratio?

As of Oct 18, 2026, AROW's payout ratio is 38% of trailing 12-month earnings — a comfortable level that leaves room to keep raising the dividend.

How many years has AROW grown its dividend?

As of Oct 18, 2026, AROW has increased its dividend for 4 consecutive years.

When is the next AROW ex-dividend date?

As of Oct 18, 2026, AROW's next ex-dividend date hasn't been announced. The most recent was Aug 11, 2026, for $0.30 per share.

Income Calculator

At $1.20 / yr per share

Per payment (quarterly)$30.00
Annual$120.00
Monthly avg$10.00

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