Lockheed Martin Corporation
LMT23 yrs growthIndustrials · Stock · quarterly payer
Forward Yield
2.63%
Annual Dividend
$13.80
Payout Ratio
50%
5-Yr Growth
6.4%
Ex-Date
Sep 1, 2026
Frequency
Quarterly
Summary
As of September 2026, Lockheed Martin Corporation (LMT) yields 2.63% ($13.80 per share annually), with a blended fair-value estimate of $590.16 — +13% upside, so it screens as fairly valued. Dividend safety grade: A (89/100). 23 years of dividend growth.
Is LMT a good dividend stock?
YesLockheed Martin Corporation (LMT) pays a quarterly dividend yielding 2.63% ($13.80/yr), with 23 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
- 23 consecutive years of dividend growth
- Comfortable payout ratio (50%)
- Strong 6.4% 5-yr dividend growth
- 52% total price return over 5 years
- Top-tier dividend safety score
Risks
- Cut its dividend in 2000
Key Data
- Dividend Yield
- 2.63%
- Payout Ratio
- 50%
- Annual Dividend
- $13.80
- 5-Yr Avg Growth
- 6.4%
- Ex-Dividend Date
- Sep 1, 2026
- Years of Growth
- 23
- Frequency
- quarterly
- Beta
- 0.10
- Market Cap
- $121.0B
- P/E Ratio
- 19.3
- 5-Yr Total Return
- 52%
- 52-Week Range
- $437.25 – $692.00
- Dividend Safety
- A · 89/100
- Ever Cut?
- Yes (2000)
Frequently Asked Questions
LMT Price — Last 12 Months
Daily close
Price Return
1 Year
+5%
3 Years
+28%
5 Years
+52%
52-Week Range
$437.25 – $692.00
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is LMT worth?
Fairly valuedhigh confidenceOur blended fair-value estimate for Lockheed Martin Corporation is $590.16 per share, versus a market price of $524.19. That implies the stock is roughly fairly priced.
Fair Value
$590.16
Current Price
$524.19
Gap
+13%
Margin of Safety
11%
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 2.2% annual free-cash-flow growth. We model 8.1% — below our estimate, leaving room for upside if the business executes.
Assumptions: 7.0% discount rate (CAPM), 8.1% stage-1 growth, 2.5% terminal growth, $27.10 EPS, $13.80 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
LMT 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
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Sep 1, 2026 | — | $3.4500 | regular |
| Jun 1, 2026 | — | $3.4500 | regular |
| Mar 2, 2026 | — | $3.4500 | regular |
| Dec 1, 2025 | — | $3.4500 | regular |
| Sep 2, 2025 | — | $3.3000 | regular |
| Jun 2, 2025 | — | $3.3000 | regular |
| Mar 3, 2025 | — | $3.3000 | regular |
| Dec 2, 2024 | — | $3.3000 | regular |
| Sep 3, 2024 | — | $3.1500 | regular |
| Jun 3, 2024 | — | $3.1500 | regular |
| Feb 29, 2024 | — | $3.1500 | regular |
| Nov 30, 2023 | — | $3.1500 | regular |
| Aug 31, 2023 | — | $3.0000 | regular |
| May 31, 2023 | — | $3.0000 | regular |
Income Calculator
At $13.80 / yr per share
