Lincoln National Corporation
LNCFinancial Services · Stock · quarterly payer
Forward Yield
4.38%
Annual Dividend
$1.80
Payout Ratio
15%
5-Yr Growth
2.4%
Ex-Date
Oct 9, 2026
Frequency
Quarterly
Summary
As of September 2026, Lincoln National Corporation (LNC) yields 4.38% ($1.80 per share annually), with a blended fair-value estimate of $34.36 — -19% downside, so it screens as overvalued. Dividend safety grade: A (89/100).
Is LNC a good dividend stock?
YesLincoln National Corporation (LNC) pays a quarterly dividend yielding 4.38% ($1.80/yr), with 0 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
- Comfortable payout ratio (15%)
- Top-tier dividend safety score
Risks
- Cut its dividend in 2009
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 4.38%
- Payout Ratio
- 15%
- Annual Dividend
- $1.80
- 5-Yr Avg Growth
- 2.4%
- Ex-Dividend Date
- Oct 9, 2026
- Years of Growth
- 0
- Frequency
- quarterly
- Beta
- 1.11
- Market Cap
- $7.9B
- P/E Ratio
- 3.5
- 5-Yr Total Return
- -42%
- 52-Week Range
- $32.18 – $47.67
- Dividend Safety
- A · 89/100
- Ever Cut?
- Yes (2009)
Frequently Asked Questions
LNC Price — Last 12 Months
Daily close
Price Return
1 Year
+0%
3 Years
+94%
5 Years
-42%
52-Week Range
$32.18 – $47.67
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is LNC worth?
Overvaluedlow confidenceOur blended fair-value estimate for Lincoln National Corporation is $34.36 per share, versus a market price of $42.20. That implies 19% of downside.
Fair Value
$34.36
Current Price
$42.20
Downside
-19%
Margin of Safety
-23%
How we get there
Dividend discount
Discounts the future dividend stream back to today.
At today's price, the market is pricing in about -10.0% annual free-cash-flow growth. We model 10.1% — below our estimate, leaving room for upside if the business executes.
Assumptions: 9.9% discount rate (CAPM), 10.1% stage-1 growth, 2.5% terminal growth, $11.87 EPS, $1.80 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
LNC 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
Full LNC dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Jul 10, 2026 | — | $0.4500 | regular |
| Apr 10, 2026 | — | $0.4500 | regular |
| Jan 12, 2026 | — | $0.4500 | regular |
| Oct 10, 2025 | — | $0.4500 | regular |
| Jul 10, 2025 | — | $0.4500 | regular |
| Apr 10, 2025 | — | $0.4500 | regular |
| Jan 10, 2025 | — | $0.4500 | regular |
| Oct 10, 2024 | — | $0.4500 | regular |
| Jul 10, 2024 | — | $0.4500 | regular |
| Apr 9, 2024 | — | $0.4500 | regular |
| Jan 9, 2024 | — | $0.4500 | regular |
| Oct 6, 2023 | — | $0.4500 | regular |
| Jul 7, 2023 | — | $0.4500 | regular |
| Apr 6, 2023 | — | $0.4500 | regular |
Income Calculator
At $1.80 / yr per share
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