Arrow Financial Corporation
AROWFinancial Services · Stock · quarterly payer
Forward Yield
3.04%
Annual Dividend
$1.20
Payout Ratio
38%
5-Yr Growth
2.5%
Ex-Date
Aug 11, 2026
Frequency
Quarterly
Summary
As of July 2026, Arrow Financial Corporation (AROW) yields 3.04% ($1.20 per share annually), with a blended fair-value estimate of $60.78 — +54% upside, so it screens as undervalued. Dividend safety grade: A (97/100). 4 years of dividend growth.
Is AROW a good dividend stock?
YesArrow Financial Corporation (AROW) pays a quarterly dividend yielding 3.04% ($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
- 3.04%
- 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
- 0.74
- Market Cap
- $652.1M
- P/E Ratio
- 12.7
- 5-Yr Total Return
- 10%
- 52-Week Range
- $25.84 – $42.70
- Dividend Safety
- A · 97/100
- Ever Cut?
- Yes (1994)
Frequently Asked Questions
AROW Price — Last 12 Months
Daily close
Price Return
1 Year
+33%
3 Years
+124%
5 Years
+10%
52-Week Range
$25.84 – $42.70
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is AROW worth?
Undervaluedmedium confidenceOur blended fair-value estimate for Arrow Financial Corporation is $60.78 per share, versus a market price of $39.45. That implies 54% of upside — a margin of safety of about 35%.
Fair Value
$60.78
Current Price
$39.45
Upside
+54%
Margin of Safety
35%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about 14.2% annual free-cash-flow growth. We model 20.0% — below our estimate, leaving room for upside if the business executes.
Assumptions: 8.0% discount rate (CAPM), 20.0% stage-1 growth, 2.5% terminal growth, $3.10 EPS, $1.20 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
AROW Dividend Safety Score
Very Safe
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| May 12, 2026 | — | $0.3000 | regular |
| Feb 11, 2026 | — | $0.3000 | regular |
| Nov 12, 2025 | — | $0.2900 | regular |
| Aug 11, 2025 | — | $0.2900 | regular |
| May 13, 2025 | — | $0.2800 | regular |
| Feb 10, 2025 | — | $0.2800 | regular |
| Oct 15, 2024 | — | $0.2800 | regular |
| Aug 12, 2024 | — | $0.2700 | regular |
| May 10, 2024 | — | $0.2700 | regular |
| Feb 9, 2024 | — | $0.2700 | regular |
| Nov 30, 2023 | — | $0.2700 | regular |
| Aug 31, 2023 | — | $0.2700 | regular |
| Jun 1, 2023 | — | $0.2700 | regular |
| Mar 2, 2023 | — | $0.2700 | regular |
Income Calculator
At $1.20 / yr per share
