SmarterDividends
BTI

British American Tobacco p.l.c.

BTI

Consumer Defensive · Tobacco · Stock · quarterly payer

$60.10

Undervalued · +45% Add to Portfolio

Forward Yield

5.56%

Annual Dividend

$3.34

Payout Ratio

84%

5-Yr Growth

2.0%

Ex-Date

Dec 29, 2026

Frequency

Quarterly

Key facts about BTI's dividend

Data as of · Source: SmarterDividends data

  • As of Oct 27, 2026, British American Tobacco p.l.c. (BTI) has a forward dividend yield of 5.56%, based on an annual dividend of $3.34 per share and a share price of $60.10.
  • As of Oct 27, 2026, BTI's dividend safety grade from SmarterDividends is C (62 out of 100), which rates the dividend as borderline.
  • By SmarterDividends' count, British American Tobacco p.l.c. (BTI) has raised its dividend for 2 consecutive years as of Oct 27, 2026.
  • BTI last cut its regular dividend in 2023.
  • BTI's next ex-dividend date is Dec 29, 2026, with payment on Feb 8, 2027. Shares must be owned before that date to receive the dividend.
  • As of Oct 27, 2026, BTI pays out 84% of its trailing 12-month earnings as dividends (its payout ratio).
  • BTI's dividend has grown at an average rate of 2.0% a year over the past five years.
  • As of Oct 27, 2026, BTI's 5.56% yield is 28% below its five-year average yield of 7.74%.
  • As of Oct 27, 2026, SmarterDividends' blended fair-value estimate for BTI is $87.36 per share, 45% above the $60.10 share price, so BTI screens as undervalued.
  • British American Tobacco p.l.c. (BTI) pays its dividend quarterly, 4 times a year.
  • British American Tobacco p.l.c. (BTI) has raised its regular dividend 33 times and cut it 10 times across the 102 payments on record since 1986. Its most recent change was a 11.5% increase to $0.835 per share, going ex-dividend on Mar 27, 2026. The last cut went ex-dividend on Mar 23, 2023.
  • British American Tobacco (BTI) has declared its first higher dividend of the year in February in 3 of the last 5 years; its most recent raise, 11.5%, was declared on Feb 12, 2026.
Cite this page

SmarterDividends, "BTI Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 27, 2026, https://smarterdividends.com/stocks/BTI

Summary

As of Oct 27, 2026, British American Tobacco p.l.c. (BTI) yields 5.56% ($3.34 a year per share), has a dividend safety grade of C (62/100) and has 2 consecutive years of dividend increases on record.

Is BTI a good dividend stock?

Yes, with caveats

British American Tobacco p.l.c. (BTI) pays a quarterly dividend yielding 5.56% ($3.34/yr), with 2 years of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying.

Advantages

  • 77% total price return over 5 years

Risks

  • Cut its dividend in 2023

Key Data

Dividend Yield
5.56%
Payout Ratio
84%
Annual Dividend
$3.34
5-Yr Avg Growth
2.0%
Ex-Dividend Date
Dec 29, 2026
Years of Growth
2
Frequency
quarterly
Beta
0.10
Market Cap
$129.2B
P/E Ratio
15.3
5-Yr Total Return
77%
52-Week Range
$50.84 – $67.30
Dividend Safety
C · 62/100
Ever Cut?
Yes (2023)

BTI dividend raises and cuts

British American Tobacco p.l.c. (BTI) has raised its regular dividend 33 times and cut it 10 times across the 102 payments on record since 1986. Its most recent change was a 11.5% increase to $0.835 per share, going ex-dividend on Mar 27, 2026. The last cut went ex-dividend on Mar 23, 2023.

Ex-dateChangeOld → newMove
Mar 27, 2026Raise$0.749 → $0.835+11.5%
Mar 28, 2025Raise$0.743 → $0.749+0.8%
Mar 21, 2024Raise$0.701 → $0.743+6.0%
Mar 23, 2023Cut$0.740 → $0.701−5.3%
Mar 25, 2021Raise$0.677 → $0.746+10.2%
Mar 26, 2020Raise$0.674 → $0.677+0.4%
Mar 22, 2018Raise$0.586 → $0.679+15.9%
Dec 28, 2017Cut$0.738 → $0.586−20.6%
Aug 16, 2017Raise$0.675 → $0.738+9.4%
Aug 17, 2016Cut$0.772 → $0.675−12.6%
Aug 19, 2015Cut$0.802 → $0.772−3.7%
Aug 20, 2014Raise$0.728 → $0.802+10.2%
Show all 43 changes since 1988
Ex-dateChangeOld → newMove
Aug 21, 2013Raise$0.681 → $0.728+6.9%
Aug 15, 2012Raise$0.596 → $0.681+14.3%
Aug 17, 2011Raise$0.525 → $0.596+13.6%
Aug 18, 2010Raise$0.461 → $0.525+13.9%
Aug 19, 2009Raise$0.395 → $0.461+16.7%
Aug 6, 2008Raise$0.378 → $0.395+4.5%
Aug 1, 2007Raise$0.294 → $0.378+28.4%
Aug 2, 2006Raise$0.255 → $0.294+15.3%
Aug 3, 2005Raise$0.226 → $0.255+13.1%
Aug 4, 2004Raise$0.191 → $0.226+18.1%
Aug 6, 2003Raise$0.184 → $0.191+4.1%
Aug 7, 2002Raise$0.158 → $0.184+16.5%
Aug 8, 2001Raise$0.149 → $0.158+6.1%
Aug 9, 2000Raise$0.0785 → $0.149+89.2%
Aug 11, 1999Cut$0.133 → $0.0785−40.8%
Nov 4, 1998Cut$0.204 → $0.133−34.9%
Aug 13, 1997Cut$0.212 → $0.204−3.8%
Aug 16, 1996Raise$0.179 → $0.212+18.2%
Aug 11, 1995Raise$0.166 → $0.179+8.2%
Aug 19, 1994Raise$0.0745 → $0.166+122.1%
Aug 6, 1993Cut$0.0823 → $0.0745−9.4%
Aug 14, 1992Raise$0.0678 → $0.0823+21.4%
Mar 27, 1992Raise$0.0583 → $0.0678+16.3%
Jun 7, 1991Raise$0.0578 → $0.0583+0.9%
Apr 5, 1991Cut$0.0693 → $0.0578−16.6%
Sep 14, 1990Cut$0.161 → $0.0693−57.0%
Apr 11, 1990Raise$0.0588 → $0.161+174.0%
Mar 30, 1990Raise$0.0583 → $0.0588+0.9%
Dec 1, 1989Raise$0.0385 → $0.0583+51.3%
Sep 22, 1989Raise$0.0365 → $0.0385+5.5%
Sep 23, 1988Raise$0.0208 → $0.0365+75.9%
Every BTI payment →Download every raise and cut (CSV)
BTI ex-dividend date & scheduleNext ex-date Dec 29, 2026 · full ex-dividend historyView →BTI dividend historyEvery payment, totals by year, raises and cutsView →

Frequently Asked Questions

Is BTI a good dividend stock?

Yes, with caveats. British American Tobacco p.l.c. (BTI) pays a quarterly dividend yielding 5.56% ($3.34/yr), with 2 years of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying.

Is BTI undervalued?

Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, BTI's fair value is about $87.36 versus a $60.10 share price — so it looks undervalued (+45% vs. fair value).

Is BTI's dividend safe?

BTI has a dividend-safety grade of C (62/100), based on its payout coverage, free-cash-flow, 2-year growth streak, a dividend cut in 2023, debt and yield-versus-history.

What is BTI's fair value?

Our blended fair-value estimate for BTI is about $87.36 per share, roughly 45% above the current $60.10 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

Is BTI a buy, hold, or sell?

We don't issue formal ratings, but on the data BTI screens as "yes, with caveats" and undervalued. British American Tobacco p.l.c. (BTI) pays a quarterly dividend yielding 5.56% ($3.34/yr), with 2 years 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 BTI cut its dividend?

BTI earns a dividend-safety grade of C (62/100), 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 BTI pay a dividend?

Yes. British American Tobacco p.l.c. pays a quarterly dividend of about $3.34 per share annually, a forward yield of roughly 5.56%.

What is BTI's dividend yield?

As of Oct 27, 2026, BTI's forward dividend yield is 5.56%, based on a $3.34 annual dividend and a $60.10 share price.

What is BTI's dividend per share?

As of Oct 27, 2026, BTI pays $3.34 per share per year, distributed on a quarterly basis.

What is BTI's dividend payout ratio?

As of Oct 27, 2026, BTI's payout ratio is 84% of trailing 12-month earnings — a moderate level that's generally sustainable.

How many years has BTI grown its dividend?

As of Oct 27, 2026, BTI has increased its dividend for 2 consecutive years.

When is the next BTI ex-dividend date?

As of Oct 27, 2026, the next ex-dividend date on record for BTI is Dec 29, 2026.

Income Calculator

At $3.34 / yr per share

Per payment (quarterly)$83.50
Annual$334.00
Monthly avg$27.83

Similar Dividend Stocks

WMTWMTWalmart Inc.0.82%50 yrCOSTCOSTCostco Wholesale Corporation0.59%21 yrKOKOThe Coca-Cola Company2.29%55 yrPGPGThe Procter & Gamble Company2.72%42 yr

Compare BTI

BTI vs WMTBTI vs COSTBTI vs KOBTI vs PG

Explore more

Lists and tools related to BTI