Independent Bank Corp.

INDB

Financial Services · Banks - Regional · Stock · quarterly payer

$79.88

Undervalued · +48% Add to Portfolio

Forward Yield

3.20%

Annual Dividend

$2.56

Payout Ratio

44%

5-Yr Growth

5.1%

Ex-Date

Sep 28, 2026

Frequency

Quarterly

Key facts about INDB's dividend

Data as of Oct 18, 2026 · Source: SmarterDividends data

As of Oct 18, 2026, Independent Bank Corp. (INDB) has a forward dividend yield of 3.20%, based on an annual dividend of $2.56 per share and a share price of $79.88.
As of Oct 18, 2026, INDB's dividend safety grade from SmarterDividends is A (97 out of 100), which rates the dividend as very safe.
By SmarterDividends' count, Independent Bank Corp. (INDB) has raised its dividend for 15 consecutive years as of Oct 18, 2026.
INDB last cut its regular dividend in 1995.
INDB's most recent ex-dividend date was Sep 28, 2026, for a dividend of $0.64 per share.
As of Oct 18, 2026, INDB pays out 44% of its trailing 12-month earnings as dividends (its payout ratio).
INDB's dividend has grown at an average rate of 5.1% a year over the past five years.
As of Oct 18, 2026, SmarterDividends' blended fair-value estimate for INDB is $118.51 per share, 48% above the $79.88 share price, so INDB screens as undervalued.
Independent Bank Corp. (INDB) pays its dividend quarterly, 4 times a year.
Independent Bank Corp. (INDB) has raised its regular dividend 36 times and cut it 0 times across the 145 payments on record since 1986. Its most recent change was a 8.5% increase to $0.640 per share, going ex-dividend on Mar 30, 2026.

Cite this page

SmarterDividends, "INDB Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 18, 2026, https://smarterdividends.com/stocks/INDB

Summary

As of Oct 18, 2026, Independent Bank Corp. (INDB) yields 3.20% ($2.56 a year per share), has a dividend safety grade of A (97/100) and has 15 consecutive years of dividend increases on record.

Is INDB a good dividend stock?

Yes

Independent Bank Corp. (INDB) pays a quarterly dividend yielding 3.20% ($2.56/yr), with 15 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

15 consecutive years of dividend growth
Comfortable payout ratio (44%)
Strong 5.1% 5-yr dividend growth
Top-tier dividend safety score

Risks

Cut its dividend in 1995

Key Data

Dividend Yield: 3.20%
Payout Ratio: 44%
Annual Dividend: $2.56
5-Yr Avg Growth: 5.1%
Ex-Dividend Date: Sep 28, 2026
Years of Growth: 15
Frequency: quarterly
Beta: 0.80
Market Cap: $3.8B
P/E Ratio: 11.8
5-Yr Total Return: 1%
52-Week Range: $65.45 – $87.50
Dividend Safety: A · 97/100
Ever Cut?: Yes (1995)

INDB dividend raises and cuts

Independent Bank Corp. (INDB) has raised its regular dividend 36 times and cut it 0 times across the 145 payments on record since 1986. Its most recent change was a 8.5% increase to $0.640 per share, going ex-dividend on Mar 30, 2026.

Ex-date	Change	Old → new	Move
Mar 30, 2026	Raise	$0.590 → $0.640	+8.5%
Mar 31, 2025	Raise	$0.570 → $0.590	+3.5%
Mar 28, 2024	Raise	$0.550 → $0.570	+3.6%
Dec 23, 2022	Raise	$0.510 → $0.550	+7.8%
Mar 25, 2022	Raise	$0.480 → $0.510	+6.3%
Mar 26, 2021	Raise	$0.460 → $0.480	+4.3%
Mar 27, 2020	Raise	$0.440 → $0.460	+4.5%
Mar 22, 2019	Raise	$0.380 → $0.440	+15.8%
Mar 23, 2018	Raise	$0.320 → $0.380	+18.8%
Mar 23, 2017	Raise	$0.290 → $0.320	+10.3%
Mar 23, 2016	Raise	$0.260 → $0.290	+11.5%
Mar 26, 2015	Raise	$0.240 → $0.260	+8.3%

Show all 36 changes since 1987

Ex-date	Change	Old → new	Move
Mar 27, 2014	Raise	$0.220 → $0.240	+9.1%
Mar 27, 2013	Raise	$0.210 → $0.220	+4.8%
Mar 22, 2012	Raise	$0.190 → $0.210	+10.5%
Mar 24, 2011	Raise	$0.180 → $0.190	+5.6%
Mar 27, 2008	Raise	$0.170 → $0.180	+5.9%
Mar 22, 2007	Raise	$0.160 → $0.170	+6.3%
Mar 23, 2006	Raise	$0.150 → $0.160	+6.7%
Mar 22, 2005	Raise	$0.140 → $0.150	+7.1%
Mar 24, 2004	Raise	$0.130 → $0.140	+7.7%
Mar 26, 2003	Raise	$0.120 → $0.130	+8.3%
Mar 26, 2002	Raise	$0.110 → $0.120	+9.1%
Mar 28, 2001	Raise	$0.100 → $0.110	+10.0%
Mar 25, 1998	Raise	$0.0900 → $0.100	+11.1%
Sep 24, 1997	Raise	$0.0800 → $0.0900	+12.5%
Mar 25, 1997	Raise	$0.0700 → $0.0800	+14.3%
Dec 24, 1996	Raise	$0.0600 → $0.0700	+16.7%
Mar 27, 1996	Raise	$0.0500 → $0.0600	+20.0%
Sep 27, 1995	Raise	$0.0400 → $0.0500	+25.0%
Dec 19, 1994	Raise	$0.0300 → $0.0400	+33.3%
Sep 14, 1989	Raise	$0.0800 → $0.0900	+12.5%
Aug 16, 1988	Raise	$0.0700 → $0.0800	+14.3%
Feb 16, 1988	Raise	$0.0670 → $0.0700	+4.5%
Dec 16, 1987	Raise	$0.0530 → $0.0670	+26.4%
Aug 18, 1987	Raise	$0.0467 → $0.0533	+14.3%

Every INDB payment →Download every raise and cut (CSV)

INDB ex-dividend date & scheduleNext ex-date Sep 28, 2026 · full ex-dividend historyView →INDB dividend historyEvery payment, totals by year, raises and cutsView →

Frequently Asked Questions

Is INDB a good dividend stock?

Yes. Independent Bank Corp. (INDB) pays a quarterly dividend yielding 3.20% ($2.56/yr), with 15 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.

Is INDB undervalued?

Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, INDB's fair value is about $118.51 versus a $79.88 share price — so it looks undervalued (+48% vs. fair value).

Is INDB's dividend safe?

INDB has a dividend-safety grade of A (97/100), based on its payout coverage, free-cash-flow, 15-year growth streak, a dividend cut in 1995, debt and yield-versus-history.

What is INDB's fair value?

Our blended fair-value estimate for INDB is about $118.51 per share, roughly 48% above the current $79.88 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

Is INDB a buy, hold, or sell?

We don't issue formal ratings, but on the data INDB screens as "yes" and undervalued. Independent Bank Corp. (INDB) pays a quarterly dividend yielding 3.20% ($2.56/yr), with 15 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding. This is research for your own analysis, not investment advice.

Will INDB cut its dividend?

INDB earns a dividend-safety grade of A (97/100), and has cut its dividend before (last in 1995). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

Does INDB pay a dividend?

Yes. Independent Bank Corp. pays a quarterly dividend of about $2.56 per share annually, a forward yield of roughly 3.20%.

What is INDB's dividend yield?

As of Oct 18, 2026, INDB's forward dividend yield is 3.20%, based on a $2.56 annual dividend and a $79.88 share price.

What is INDB's dividend per share?

As of Oct 18, 2026, INDB pays $2.56 per share per year, distributed on a quarterly basis.

What is INDB's dividend payout ratio?

As of Oct 18, 2026, INDB's payout ratio is 44% of trailing 12-month earnings — a comfortable level that leaves room to keep raising the dividend.

How many years has INDB grown its dividend?

As of Oct 18, 2026, INDB has increased its dividend for 15 consecutive years.

When is the next INDB ex-dividend date?

As of Oct 18, 2026, INDB's next ex-dividend date hasn't been announced. The most recent was Sep 28, 2026, for $0.64 per share.

Dividend Growth

Total dividends per share by year

Dividend History

Full INDB dividend history →

Ex-Date	Pay Date	Amount	Type
Sep 28, 2026	Oct 9, 2026	$0.6400	regular
Jun 29, 2026	Jul 9, 2026	$0.6400	regular
Mar 30, 2026	Apr 9, 2026	$0.6400	regular
Dec 29, 2025	Jan 7, 2026	$0.5900	regular
Sep 29, 2025	Oct 7, 2025	$0.5900	regular
Jun 30, 2025	Jul 7, 2025	$0.5900	regular
Mar 31, 2025	Apr 7, 2025	$0.5900	regular
Dec 30, 2024	Jan 6, 2025	$0.5700	regular
Sep 30, 2024	Oct 4, 2024	$0.5700	regular
Jul 1, 2024	Jul 8, 2024	$0.5700	regular
Mar 28, 2024	Apr 5, 2024	$0.5700	regular
Dec 22, 2023	Jan 5, 2024	$0.5500	regular
Sep 29, 2023	Oct 6, 2023	$0.5500	regular
Jun 23, 2023	Jul 7, 2023	$0.5500	regular