The Macerich Company
MACReal Estate · REIT - Retail · Stock · quarterly payer
Forward Yield
2.96%
Annual Dividend
$0.68
Payout Ratio
189%
5-Yr Growth
5.0%
Ex-Date
Sep 14, 2026
Frequency
Quarterly
Key facts about MAC's dividend
Data as of · Source: SmarterDividends data
- As of Oct 18, 2026, The Macerich Company (MAC) has a forward dividend yield of 2.96%, based on an annual dividend of $0.68 per share and a share price of $22.96.
- As of Oct 18, 2026, MAC's dividend safety grade from SmarterDividends is C (61 out of 100), which rates the dividend as borderline.
- MAC last cut its regular dividend in 2020.
- MAC's most recent ex-dividend date was Sep 14, 2026, for a dividend of $0.17 per share.
- As of Oct 18, 2026, MAC pays out 189% of its trailing 12-month earnings as dividends (its payout ratio).
- MAC's dividend has grown at an average rate of 5.0% a year over the past five years.
- As of Oct 18, 2026, MAC's 2.96% yield is 35% below its five-year average yield of 4.54%.
- As of Oct 18, 2026, SmarterDividends' blended fair-value estimate for MAC is $10.87 per share, 53% below the $22.96 share price, so MAC screens as overvalued.
- The Macerich Company (MAC) pays its dividend quarterly, 4 times a year.
- The Macerich Company (MAC) has raised its regular dividend 28 times and cut it 2 times across the 130 payments on record since 1994. Its most recent change was a 13.3% increase to $0.170 per share, going ex-dividend on Nov 8, 2022. The last cut went ex-dividend on Apr 21, 2020.
Cite this page
SmarterDividends, "MAC Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 18, 2026, https://smarterdividends.com/stocks/MAC
Summary
As of Oct 18, 2026, The Macerich Company (MAC) yields 2.96% ($0.68 a year per share) and has a dividend safety grade of C (61/100).
Is MAC a good dividend stock?
Yes, with caveatsThe Macerich Company (MAC) pays a quarterly dividend yielding 2.96% ($0.68/yr), with 0 years of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying.
Advantages
Risks
- Cut its dividend in 2020
- Elevated payout ratio (189%)
Key Data
- Dividend Yield
- 2.96%
- Payout Ratio
- 189%
- Annual Dividend
- $0.68
- 5-Yr Avg Growth
- 5.0%
- Ex-Dividend Date
- Sep 14, 2026
- Years of Growth
- 0
- Frequency
- quarterly
- Beta
- 2.10
- Market Cap
- $6.8B
- P/E Ratio
- —
- 5-Yr Total Return
- 22%
- 52-Week Range
- $16.03 – $26.68
- Dividend Safety
- C · 61/100
- Ever Cut?
- Yes (2020)
MAC dividend raises and cuts
The Macerich Company (MAC) has raised its regular dividend 28 times and cut it 2 times across the 130 payments on record since 1994. Its most recent change was a 13.3% increase to $0.170 per share, going ex-dividend on Nov 8, 2022. The last cut went ex-dividend on Apr 21, 2020.
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| Nov 8, 2022 | Raise | $0.150 → $0.170 | +13.3% |
| Aug 18, 2020 | Raise | $0.100 → $0.150 | +50.0% |
| Apr 21, 2020 | Cut | $0.750 → $0.100 | −86.7% |
| Nov 8, 2018 | Raise | $0.740 → $0.750 | +1.4% |
| Nov 9, 2017 | Raise | $0.710 → $0.740 | +4.2% |
| Nov 8, 2016 | Raise | $0.680 → $0.710 | +4.4% |
| Feb 17, 2016 | Raise | $0.650 → $0.680 | +4.6% |
| Nov 7, 2014 | Raise | $0.620 → $0.650 | +4.8% |
| Nov 7, 2013 | Raise | $0.580 → $0.620 | +6.9% |
| Nov 7, 2012 | Raise | $0.550 → $0.580 | +5.5% |
| Nov 8, 2011 | Raise | $0.500 → $0.550 | +10.0% |
| May 6, 2010 | Raise | $0.0600 → $0.500 | +733.3% |
Show all 30 changes since 1994
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| Feb 11, 2010 | Raise | $0.0592 → $0.0600 | +1.4% |
| Nov 9, 2009 | Raise | $0.0581 → $0.0592 | +1.8% |
| Aug 10, 2009 | Raise | $0.0571 → $0.0581 | +1.9% |
| May 7, 2009 | Cut | $0.741 → $0.0571 | −92.3% |
| Nov 13, 2007 | Raise | $0.657 → $0.741 | +12.7% |
| Nov 13, 2006 | Raise | $0.630 → $0.657 | +4.4% |
| Nov 10, 2005 | Raise | $0.602 → $0.630 | +4.6% |
| Nov 10, 2004 | Raise | $0.565 → $0.602 | +6.6% |
| Nov 12, 2003 | Raise | $0.528 → $0.565 | +7.0% |
| Feb 20, 2003 | Raise | $0.509 → $0.528 | +3.6% |
| Nov 15, 2001 | Raise | $0.491 → $0.509 | +3.8% |
| Nov 15, 2000 | Raise | $0.472 → $0.491 | +3.9% |
| Nov 17, 1999 | Raise | $0.449 → $0.472 | +5.2% |
| Nov 20, 1998 | Raise | $0.426 → $0.449 | +5.4% |
| Nov 19, 1997 | Raise | $0.407 → $0.426 | +4.5% |
| Nov 20, 1996 | Raise | $0.389 → $0.407 | +4.8% |
| May 16, 1995 | Raise | $0.370 → $0.389 | +5.0% |
| Aug 4, 1994 | Raise | $0.0648 → $0.370 | +471.4% |
Frequently Asked Questions
Is MAC a good dividend stock?
Yes, with caveats. The Macerich Company (MAC) pays a quarterly dividend yielding 2.96% ($0.68/yr), with 0 years of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying.
Is MAC undervalued?
Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, MAC's fair value is about $10.87 versus a $22.96 share price — so it looks overvalued (-53% vs. fair value).
Is MAC's dividend safe?
MAC has a dividend-safety grade of C (61/100), based on its payout coverage, free-cash-flow, 0-year growth streak, a dividend cut in 2020, debt and yield-versus-history.
What is MAC's fair value?
Our blended fair-value estimate for MAC is about $10.87 per share, about 53% below the current $22.96 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.
Is MAC a buy, hold, or sell?
We don't issue formal ratings, but on the data MAC screens as "yes, with caveats" and overvalued. The Macerich Company (MAC) pays a quarterly dividend yielding 2.96% ($0.68/yr), with 0 years of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying. This is research for your own analysis, not investment advice.
Will MAC cut its dividend?
MAC earns a dividend-safety grade of C (61/100), and has cut its dividend before (last in 2020). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.
Does MAC pay a dividend?
Yes. The Macerich Company pays a quarterly dividend of about $0.68 per share annually, a forward yield of roughly 2.96%.
What is MAC's dividend yield?
As of Oct 18, 2026, MAC's forward dividend yield is 2.96%, based on a $0.68 annual dividend and a $22.96 share price.
What is MAC's dividend per share?
As of Oct 18, 2026, MAC pays $0.68 per share per year, distributed on a quarterly basis.
What is MAC's dividend payout ratio?
As of Oct 18, 2026, MAC's payout ratio is 189% of trailing 12-month earnings — an elevated level worth watching, as it leaves less cushion if earnings dip.
How many years has MAC grown its dividend?
MAC does not currently have a long dividend-growth streak on record.
When is the next MAC ex-dividend date?
As of Oct 18, 2026, MAC's next ex-dividend date hasn't been announced. The most recent was Sep 14, 2026, for $0.17 per share.
MAC Price — Last 12 Months
Daily close
Price Return
1 Year
+32%
3 Years
+100%
5 Years
+22%
52-Week Range
$16.03 – $26.68
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is MAC worth?
Overvaluedlow confidenceOur blended fair-value estimate for The Macerich Company is $10.87 per share, versus a market price of $22.96. That implies 53% of downside.
Fair Value
$10.87
Current Price
$22.96
Downside
-53%
Margin of Safety
-111%
How we get there
Dividend discount
Discounts the future dividend stream back to today.
Assumptions: 12.0% discount rate (CAPM), 12.0% growth for five years fading to 2.5% over the next five, -$0.65 EPS, $0.68 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
MAC 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 MAC dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Sep 14, 2026 | Sep 28, 2026 | $0.1700 | regular |
| Jun 15, 2026 | Jun 29, 2026 | $0.1700 | regular |
| Mar 16, 2026 | Mar 30, 2026 | $0.1700 | regular |
| Dec 15, 2025 | Dec 29, 2025 | $0.1700 | regular |
| Sep 9, 2025 | Sep 23, 2025 | $0.1700 | regular |
| Jun 3, 2025 | Jun 17, 2025 | $0.1700 | regular |
| Mar 4, 2025 | Mar 18, 2025 | $0.1700 | regular |
| Nov 12, 2024 | Dec 2, 2024 | $0.1700 | regular |
| Aug 19, 2024 | Sep 9, 2024 | $0.1700 | regular |
| May 17, 2024 | Jun 3, 2024 | $0.1700 | regular |
| Feb 15, 2024 | Mar 4, 2024 | $0.1700 | regular |
| Nov 8, 2023 | Dec 1, 2023 | $0.1700 | regular |
| Aug 17, 2023 | Sep 8, 2023 | $0.1700 | regular |
| May 18, 2023 | Jun 2, 2023 | $0.1700 | regular |
Income Calculator
At $0.68 / yr per share
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