Black Hills Corporation
BKH30 yrs growthUtilities · Stock · quarterly payer
Forward Yield
3.99%
Annual Dividend
$2.81
Payout Ratio
69%
5-Yr Growth
4.5%
Ex-Date
Aug 17, 2026
Frequency
Quarterly
Summary
As of September 2026, Black Hills Corporation (BKH) yields 3.99% ($2.81 per share annually), with a blended fair-value estimate of $69.92 — -1% downside, so it screens as fairly valued. Dividend safety grade: A (92/100). 30 years of dividend growth.
Is BKH a good dividend stock?
YesBlack Hills Corporation (BKH) pays a quarterly dividend yielding 3.99% ($2.81/yr), with 30 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
- Dividend Aristocrat — 30 consecutive years of growth
- Never cut its dividend on record
- Top-tier dividend safety score
Risks
- Single-stock concentration risk — diversify
Key Data
- Dividend Yield
- 3.99%
- Payout Ratio
- 69%
- Annual Dividend
- $2.81
- 5-Yr Avg Growth
- 4.5%
- Ex-Dividend Date
- Aug 17, 2026
- Years of Growth
- 30
- Frequency
- quarterly
- Beta
- 0.69
- Market Cap
- $5.3B
- P/E Ratio
- 17.6
- 5-Yr Total Return
- 6%
- 52-Week Range
- $58.65 – $78.69
- Dividend Safety
- A · 92/100
- Ever Cut?
- No
Frequently Asked Questions
BKH Price — Last 12 Months
Daily close
Price Return
1 Year
+11%
3 Years
+46%
5 Years
+6%
52-Week Range
$58.65 – $78.69
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is BKH worth?
Fairly valuedmedium confidenceOur blended fair-value estimate for Black Hills Corporation is $69.92 per share, versus a market price of $70.45. That implies the stock is roughly fairly priced.
Fair Value
$69.92
Current Price
$70.45
Gap
-1%
Margin of Safety
-1%
How we get there
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 40.0% annual free-cash-flow growth. We model 6.3% — so the price already assumes faster growth than we think is likely.
Assumptions: 7.8% discount rate (CAPM), 6.3% stage-1 growth, 2.5% terminal growth, $3.97 EPS, $2.81 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
BKH 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
Full BKH dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Aug 17, 2026 | — | $0.7030 | regular |
| May 15, 2026 | — | $0.7030 | regular |
| Feb 17, 2026 | — | $0.7030 | regular |
| Nov 17, 2025 | — | $0.6760 | regular |
| Aug 18, 2025 | — | $0.6760 | regular |
| May 16, 2025 | — | $0.6760 | regular |
| Feb 18, 2025 | — | $0.6760 | regular |
| Nov 18, 2024 | — | $0.6500 | regular |
| Aug 19, 2024 | — | $0.6500 | regular |
| May 16, 2024 | — | $0.6500 | regular |
| Feb 15, 2024 | — | $0.6500 | regular |
| Nov 16, 2023 | — | $0.6250 | regular |
| Aug 17, 2023 | — | $0.6250 | regular |
| May 17, 2023 | — | $0.6250 | regular |
Income Calculator
At $2.81 / yr per share
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