Canadian Imperial Bank of Commerce
CMFinancial Services · Stock · quarterly payer
Forward Yield
2.49%
Annual Dividend
$3.01
Payout Ratio
40%
5-Yr Growth
5.1%
Ex-Date
Jun 29, 2026
Frequency
Quarterly
Summary
As of July 2026, Canadian Imperial Bank of Commerce (CM) yields 2.49% ($3.01 per share annually), with a blended fair-value estimate of $151.67 — +25% upside, so it screens as undervalued. Dividend safety grade: B (73/100). 10 years of dividend growth.
Is CM a good dividend stock?
Yes, with caveatsCanadian Imperial Bank of Commerce (CM) pays a quarterly dividend yielding 2.49% ($3.01/yr), with 10 years of growth and a dividend-safety grade of B. It's a solid income payer, but check the caveats below before buying.
Advantages
- 10 consecutive years of dividend growth
- Comfortable payout ratio (40%)
- Strong 5.1% 5-yr dividend growth
- 111% total price return over 5 years
Risks
- Cut its dividend in 2015
Key Data
- Dividend Yield
- 2.49%
- Payout Ratio
- 40%
- Annual Dividend
- $3.01
- 5-Yr Avg Growth
- 5.1%
- Ex-Dividend Date
- Jun 29, 2026
- Years of Growth
- 10
- Frequency
- quarterly
- Beta
- 1.27
- Market Cap
- $107.5B
- P/E Ratio
- 17.1
- 5-Yr Total Return
- 111%
- 52-Week Range
- $71.00 – $122.50
- Dividend Safety
- B · 73/100
- Ever Cut?
- Yes (2015)
Frequently Asked Questions
CM Price — Last 12 Months
Daily close
Price Return
1 Year
+57%
3 Years
+206%
5 Years
+111%
52-Week Range
$71.00 – $122.50
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is CM worth?
Undervaluedmedium confidenceOur blended fair-value estimate for Canadian Imperial Bank of Commerce is $151.67 per share, versus a market price of $121.24. That implies 25% of upside — a margin of safety of about 20%.
Fair Value
$151.67
Current Price
$121.24
Upside
+25%
Margin of Safety
20%
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 -10.0% annual free-cash-flow growth. We model 8.0% — below our estimate, leaving room for upside if the business executes.
Assumptions: 10.7% discount rate (CAPM), 8.0% stage-1 growth, 2.5% terminal growth, $7.10 EPS, $3.01 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
CM Dividend Safety Score
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 |
|---|---|---|---|
| Jun 29, 2026 | — | $0.7540 | regular |
| Mar 27, 2026 | — | $0.7720 | regular |
| Jun 27, 2025 | — | $0.7110 | regular |
| Mar 28, 2025 | — | $0.6780 | regular |
| Dec 27, 2024 | — | $0.6730 | regular |
| Sep 27, 2024 | — | $0.6680 | regular |
| Jun 28, 2024 | — | $0.6570 | regular |
| Mar 27, 2024 | — | $0.6630 | regular |
| Dec 27, 2023 | — | $0.6820 | regular |
| Sep 27, 2023 | — | $0.6440 | regular |
| Jun 27, 2023 | — | $0.6620 | regular |
| Mar 27, 2023 | — | $0.6180 | regular |
| Dec 23, 2022 | — | $0.6230 | regular |
| Sep 27, 2022 | — | $0.6040 | regular |
Income Calculator
At $3.01 / yr per share
