Harmony Gold Mining Company Limited
HMYBasic Materials · Stock · semiannual payer
Forward Yield
4.16%
Annual Dividend
$0.78
Payout Ratio
15%
5-Yr Growth
—
Ex-Date
Oct 9, 2026
Frequency
Semiannual
Summary
As of September 2026, Harmony Gold Mining Company Limited (HMY) yields 4.16% ($0.78 per share annually), with a blended fair-value estimate of $23.59 — +18% upside, so it screens as undervalued. Dividend safety grade: C (56/100). 3 years of dividend growth.
Is HMY a good dividend stock?
MixedHarmony Gold Mining Company Limited (HMY) pays a semiannual dividend yielding 4.16% ($0.78/yr), with 3 years of growth and a dividend-safety grade of C. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal.
Advantages
- Comfortable payout ratio (15%)
- 450% total price return over 5 years
Risks
- Cut its dividend in 2021
Key Data
- Dividend Yield
- 4.16%
- Payout Ratio
- 15%
- Annual Dividend
- $0.78
- 5-Yr Avg Growth
- —
- Ex-Dividend Date
- Oct 9, 2026
- Years of Growth
- 3
- Frequency
- semiannual
- Beta
- 0.81
- Market Cap
- $11.6B
- P/E Ratio
- 6.2
- 5-Yr Total Return
- 450%
- 52-Week Range
- $13.03 – $26.06
- Dividend Safety
- C · 56/100
- Ever Cut?
- Yes (2021)
Frequently Asked Questions
HMY Price — Last 12 Months
Daily close
Price Return
1 Year
+21%
3 Years
+344%
5 Years
+450%
52-Week Range
$13.03 – $26.06
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is HMY worth?
Undervaluedlow confidenceOur blended fair-value estimate for Harmony Gold Mining Company Limited is $23.59 per share, versus a market price of $19.92. That implies 18% of upside — a margin of safety of about 16%.
Fair Value
$23.59
Current Price
$19.92
Upside
+18%
Margin of Safety
16%
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 -10.0% annual free-cash-flow growth. We model 4.0% — below our estimate, leaving room for upside if the business executes.
Assumptions: 8.4% discount rate (CAPM), 4.0% stage-1 growth, 2.5% terminal growth, $2.83 EPS, $0.41 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
HMY Dividend Safety Score
Borderline
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 HMY dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Apr 24, 2026 | — | $0.3120 | regular |
| Apr 11, 2025 | — | $0.1200 | regular |
| Oct 11, 2024 | — | $0.0520 | regular |
| Apr 11, 2024 | — | $0.0780 | regular |
| Oct 12, 2023 | — | $0.0400 | regular |
| Oct 13, 2022 | — | $0.0130 | regular |
| Apr 7, 2022 | — | $0.0260 | regular |
| Oct 14, 2021 | — | $0.0190 | regular |
| Apr 15, 2021 | — | $0.0730 | regular |
| Oct 12, 2017 | — | $0.0270 | regular |
| Mar 15, 2017 | — | $0.0380 | regular |
| Sep 14, 2016 | — | $0.0370 | regular |
| Mar 6, 2013 | — | $0.0560 | regular |
| Sep 12, 2012 | — | $0.0610 | regular |
Income Calculator
At $0.78 / yr per share
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