Nelnet, Inc.
NNIFinancial Services · Stock · quarterly payer
Forward Yield
1.04%
Annual Dividend
$1.32
Payout Ratio
15%
5-Yr Growth
7.7%
Ex-Date
Sep 1, 2026
Frequency
Quarterly
Summary
As of August 2026, Nelnet, Inc. (NNI) yields 1.04% ($1.32 per share annually), with a blended fair-value estimate of $372.45 — +192% upside, so it screens as undervalued. Dividend safety grade: A (91/100). 11 years of dividend growth.
Is NNI a good dividend stock?
YesNelnet, Inc. (NNI) pays a quarterly dividend yielding 1.04% ($1.32/yr), with 11 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
- 11 consecutive years of dividend growth
- Never cut its dividend on record
- Comfortable payout ratio (15%)
- Strong 7.7% 5-yr dividend growth
- 61% total price return over 5 years
- Top-tier dividend safety score
Risks
- Single-stock concentration risk — diversify
Key Data
- Dividend Yield
- 1.04%
- Payout Ratio
- 15%
- Annual Dividend
- $1.32
- 5-Yr Avg Growth
- 7.7%
- Ex-Dividend Date
- Sep 1, 2026
- Years of Growth
- 11
- Frequency
- quarterly
- Beta
- 0.78
- Market Cap
- $4.6B
- P/E Ratio
- 15.2
- 5-Yr Total Return
- 61%
- 52-Week Range
- $116.62 – $144.38
- Dividend Safety
- A · 91/100
- Ever Cut?
- No
Frequently Asked Questions
NNI Price — Last 12 Months
Daily close
Price Return
1 Year
+2%
3 Years
+43%
5 Years
+61%
52-Week Range
$116.62 – $144.38
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is NNI worth?
Undervaluedlow confidenceOur blended fair-value estimate for Nelnet, Inc. is $372.45 per share, versus a market price of $127.37. That implies 192% of upside — a margin of safety of about 66%.
Fair Value
$372.45
Current Price
$127.37
Upside
+192%
Margin of Safety
66%
How we get there
Discounted cash flow
Discounts projected free cash flow 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 6.7% annual free-cash-flow growth. We model 20.0% — below our estimate, leaving room for upside if the business executes.
Assumptions: 8.2% discount rate (CAPM), 20.0% stage-1 growth, 2.5% terminal growth, $8.37 EPS, $1.32 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
NNI 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 |
|---|---|---|---|
| Jun 1, 2026 | — | $0.3300 | regular |
| Feb 27, 2026 | — | $0.3300 | regular |
| Dec 1, 2025 | — | $0.3300 | regular |
| Sep 2, 2025 | — | $0.3000 | regular |
| Jun 2, 2025 | — | $0.2800 | regular |
| Feb 28, 2025 | — | $0.2800 | regular |
| Dec 2, 2024 | — | $0.2800 | regular |
| Aug 30, 2024 | — | $0.2800 | regular |
| May 31, 2024 | — | $0.2800 | regular |
| Feb 29, 2024 | — | $0.2800 | regular |
| Nov 30, 2023 | — | $0.2800 | regular |
| Aug 31, 2023 | — | $0.2600 | regular |
| May 31, 2023 | — | $0.2600 | regular |
| Feb 28, 2023 | — | $0.2600 | regular |
Income Calculator
At $1.32 / yr per share
