SmarterDividends
MRK

Merck & Co., Inc.

MRK

Healthcare · Drug Manufacturers - General · Stock · quarterly payer

$149.88

Overvalued · -20% Add to Portfolio

Forward Yield

2.27%

Annual Dividend

$3.40

Payout Ratio

267%

5-Yr Growth

6.7%

Ex-Date

Sep 15, 2026

Frequency

Quarterly

Key facts about MRK's dividend

Data as of · Source: SmarterDividends data

  • As of Oct 22, 2026, Merck & Co., Inc. (MRK) has a forward dividend yield of 2.27%, based on an annual dividend of $3.40 per share and a share price of $149.88.
  • As of Oct 22, 2026, MRK's dividend safety grade from SmarterDividends is A (88 out of 100), which rates the dividend as very safe.
  • By SmarterDividends' count, Merck & Co., Inc. (MRK) has raised its dividend for 15 consecutive years as of Oct 22, 2026.
  • MRK has never cut its regular dividend in the payment history SmarterDividends has on record.
  • MRK's most recent ex-dividend date was Sep 15, 2026, for a dividend of $0.85 per share.
  • As of Oct 22, 2026, MRK pays out 267% of its trailing 12-month earnings as dividends (its payout ratio).
  • MRK's dividend has grown at an average rate of 6.7% a year over the past five years.
  • As of Oct 22, 2026, MRK's 2.27% yield is 27% below its five-year average yield of 3.13%.
  • As of Oct 22, 2026, SmarterDividends' blended fair-value estimate for MRK is $120.53 per share, 20% below the $149.88 share price, so MRK screens as overvalued.
  • Merck & Co., Inc. (MRK) pays its dividend quarterly, 4 times a year.
  • Merck & Co., Inc. (MRK) has raised its regular dividend 51 times and cut it 1 time across the 225 payments on record since 1970. Its most recent change was a 4.9% increase to $0.850 per share, going ex-dividend on Dec 15, 2025. The last cut went ex-dividend on Aug 29, 1988.
  • Merck (MRK) has declared its first higher dividend of the year in November in 4 of the last 5 years; its most recent raise, 4.9%, was declared on Nov 18, 2025.
Cite this page

SmarterDividends, "MRK Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 22, 2026, https://smarterdividends.com/stocks/MRK

Summary

As of Oct 22, 2026, Merck & Co., Inc. (MRK) yields 2.27% ($3.40 a year per share), has a dividend safety grade of A (88/100) and has 15 consecutive years of dividend increases on record.

Is MRK a good dividend stock?

Yes

Merck & Co., Inc. (MRK) pays a quarterly dividend yielding 2.27% ($3.40/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
  • Never cut its dividend on record
  • Strong 6.7% 5-yr dividend growth
  • 95% total price return over 5 years
  • Top-tier dividend safety score

Risks

  • Elevated payout ratio (267%)

Key Data

Dividend Yield
2.27%
Payout Ratio
267%
Annual Dividend
$3.40
5-Yr Avg Growth
6.7%
Ex-Dividend Date
Sep 15, 2026
Years of Growth
15
Frequency
quarterly
Beta
0.22
Market Cap
$369.8B
P/E Ratio
119.0
5-Yr Total Return
95%
52-Week Range
$82.01 – $156.92
Dividend Safety
A · 88/100
Ever Cut?
No

MRK dividend raises and cuts

Merck & Co., Inc. (MRK) has raised its regular dividend 51 times and cut it 1 time across the 225 payments on record since 1970. Its most recent change was a 4.9% increase to $0.850 per share, going ex-dividend on Dec 15, 2025. The last cut went ex-dividend on Aug 29, 1988.

Ex-dateChangeOld → newMove
Dec 15, 2025Raise$0.810 → $0.850+4.9%
Dec 16, 2024Raise$0.770 → $0.810+5.2%
Dec 14, 2023Raise$0.730 → $0.770+5.5%
Dec 14, 2022Raise$0.690 → $0.730+5.8%
Dec 14, 2021Raise$0.650 → $0.690+6.2%
Jun 14, 2021Raise$0.620 → $0.650+4.8%
Dec 14, 2020Raise$0.582 → $0.620+6.6%
Dec 13, 2019Raise$0.525 → $0.582+10.9%
Dec 14, 2018Raise$0.458 → $0.525+14.6%
Dec 14, 2017Raise$0.448 → $0.458+2.1%
Dec 13, 2016Raise$0.439 → $0.448+2.2%
Dec 11, 2015Raise$0.429 → $0.439+2.2%
Show all 52 changes since 1970
Ex-dateChangeOld → newMove
Dec 11, 2014Raise$0.420 → $0.429+2.3%
Dec 12, 2013Raise$0.410 → $0.420+2.3%
Dec 13, 2012Raise$0.401 → $0.410+2.4%
Dec 13, 2011Raise$0.363 → $0.401+10.5%
Sep 1, 2004Raise$0.353 → $0.363+2.7%
Sep 3, 2003Raise$0.344 → $0.353+2.8%
Sep 4, 2002Raise$0.334 → $0.344+2.9%
Aug 30, 2001Raise$0.324 → $0.334+2.9%
Aug 30, 2000Raise$0.277 → $0.324+17.2%
Sep 1, 1999Raise$0.258 → $0.277+7.4%
Sep 2, 1998Raise$0.215 → $0.258+20.0%
Sep 3, 1997Raise$0.200 → $0.215+7.1%
Mar 5, 1997Raise$0.191 → $0.200+5.0%
Sep 4, 1996Raise$0.162 → $0.191+17.6%
Sep 5, 1995Raise$0.143 → $0.162+13.3%
Sep 2, 1994Raise$0.134 → $0.143+7.1%
Sep 2, 1993Raise$0.119 → $0.134+12.0%
Aug 31, 1992Raise$0.110 → $0.119+8.7%
Mar 2, 1992Raise$0.100 → $0.110+9.5%
Aug 30, 1991Raise$0.0891 → $0.100+12.5%
Aug 28, 1990Raise$0.0716 → $0.0891+24.4%
Aug 29, 1989Raise$0.0652 → $0.0716+9.8%
Mar 2, 1989Raise$0.0588 → $0.0652+10.8%
Nov 29, 1988Raise$0.0469 → $0.0588+25.4%
Aug 29, 1988Cut$0.0509 → $0.0469−7.8%
Feb 29, 1988Raise$0.0424 → $0.0509+20.0%
Aug 28, 1987Raise$0.0292 → $0.0424+45.5%
Sep 2, 1986Raise$0.0239 → $0.0292+22.2%
Dec 3, 1985Raise$0.0212 → $0.0239+12.5%
Dec 3, 1984Raise$0.0199 → $0.0212+6.7%
Nov 29, 1983Raise$0.0186 → $0.0199+7.1%
Dec 1, 1981Raise$0.0172 → $0.0186+7.7%
Dec 2, 1980Raise$0.0152 → $0.0172+13.0%
Dec 3, 1979Raise$0.0126 → $0.0152+21.1%
Dec 4, 1978Raise$0.0113 → $0.0126+11.8%
Nov 28, 1977Raise$0.0099 → $0.0113+13.3%
Nov 30, 1976Raise$0.0093 → $0.0099+7.1%
Dec 3, 1973Raise$0.0078 → $0.0093+18.6%
Dec 5, 1972Raise$0.0073 → $0.0078+7.3%
Dec 1, 1970Raise$0.0066 → $0.0073+10.0%
Every MRK payment →Download every raise and cut (CSV)
MRK ex-dividend date & scheduleNext ex-date Sep 15, 2026 · full ex-dividend historyView →MRK dividend historyEvery payment, totals by year, raises and cutsView →

Frequently Asked Questions

Is MRK a good dividend stock?

Yes. Merck & Co., Inc. (MRK) pays a quarterly dividend yielding 2.27% ($3.40/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 MRK undervalued?

Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, MRK's fair value is about $120.53 versus a $149.88 share price — so it looks overvalued (-20% vs. fair value).

Is MRK's dividend safe?

MRK has a dividend-safety grade of A (88/100), based on its payout coverage, free-cash-flow, 15-year growth streak, a clean no-cut history, debt and yield-versus-history.

What is MRK's fair value?

Our blended fair-value estimate for MRK is about $120.53 per share, about 20% below the current $149.88 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

Is MRK a buy, hold, or sell?

We don't issue formal ratings, but on the data MRK screens as "yes" and overvalued. Merck & Co., Inc. (MRK) pays a quarterly dividend yielding 2.27% ($3.40/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 MRK cut its dividend?

MRK earns a dividend-safety grade of A (88/100), with no dividend cut on record. A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

Does MRK pay a dividend?

Yes. Merck & Co., Inc. pays a quarterly dividend of about $3.40 per share annually, a forward yield of roughly 2.27%.

What is MRK's dividend yield?

As of Oct 22, 2026, MRK's forward dividend yield is 2.27%, based on a $3.40 annual dividend and a $149.88 share price.

What is MRK's dividend per share?

As of Oct 22, 2026, MRK pays $3.40 per share per year, distributed on a quarterly basis.

What is MRK's dividend payout ratio?

As of Oct 22, 2026, MRK's payout ratio is 267% of trailing 12-month earnings — an elevated level worth watching, as it leaves less cushion if earnings dip.

How many years has MRK grown its dividend?

As of Oct 22, 2026, MRK has increased its dividend for 15 consecutive years.

When is the next MRK ex-dividend date?

As of Oct 22, 2026, MRK's next ex-dividend date hasn't been announced. The most recent was Sep 15, 2026, for $0.85 per share.

Income Calculator

At $3.40 / yr per share

Per payment (quarterly)$85.00
Annual$340.00
Monthly avg$28.33

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