Pinnacle West Capital (PNW) Dividend
Pinnacle West Capital Corporation · Utilities · Utilities - Regulated Electric · quarterly payer
As of Nov 5, 2026, Pinnacle West Capital (PNW) pays a quarterly dividend of $0.9250 per share, or $3.70 a year, a 3.50% yield at its $104.05 share price. It pays every quarter, usually in March, June, September and December. It has raised its dividend 14 years in a row and has a dividend safety grade of A.
Forward Yield
3.50%
Annual Dividend
$3.70
Payout Ratio
68%
5-Yr Growth
2.5%
Ex-Date
Nov 2, 2026
Frequency
Quarterly
Key facts about PNW's dividend
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, Pinnacle West Capital Corporation (PNW) has a forward dividend yield of 3.50%, based on an annual dividend of $3.70 per share and a share price of $104.05.
- As of Nov 5, 2026, PNW's dividend safety grade from SmarterDividends is A (88 out of 100), which rates the dividend as very safe.
- By SmarterDividends' count, Pinnacle West Capital Corporation (PNW) has raised its dividend for 14 consecutive years as of Nov 5, 2026.
- PNW last cut its regular dividend in 1994.
- PNW's most recent ex-dividend date was Nov 2, 2026, for a dividend of $0.93 per share.
- As of Nov 5, 2026, PNW pays out 68% of its trailing 12-month earnings as dividends (its payout ratio).
- PNW's dividend has grown at an average rate of 2.5% a year over the past five years.
- As of Nov 5, 2026, PNW's 3.50% yield is 20% below its five-year average yield of 4.39%.
- As of Nov 5, 2026, SmarterDividends' blended fair-value estimate for PNW is $119.78 per share, 15% above the $104.05 share price, so PNW screens as undervalued.
- Pinnacle West Capital Corporation (PNW) pays its dividend quarterly, 4 times a year.
- Pinnacle West Capital Corporation (PNW) has raised its regular dividend 28 times and cut it 1 time across the 144 payments on record since 1973. Its most recent change was a 1.6% increase to $0.925 per share, going ex-dividend on Nov 2, 2026. The last cut went ex-dividend on Jan 26, 1989.
- Pinnacle West Capital (PNW) has declared its first higher dividend of the year in October in 4 of the last 5 years; its most recent raise, 1.6%, was declared on Oct 21, 2026.
Cite this page
SmarterDividends, "PNW Dividend: Yield, Safety Grade & Next Ex-Date," updated Nov 5, 2026, https://smarterdividends.com/stocks/PNW
Is PNW a good dividend stock?
YesPinnacle West Capital Corporation (PNW) pays a quarterly dividend yielding 3.50% ($3.70/yr), with 14 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
- 14 consecutive years of dividend growth
- 63% total price return over 5 years
- Top-tier dividend safety score
Risks
- Cut its dividend in 1994
Key Data
- Dividend Yield
- 3.50%
- Payout Ratio
- 68%
- Annual Dividend
- $3.70
- 5-Yr Avg Growth
- 2.5%
- Ex-Dividend Date
- Nov 2, 2026
- Years of Growth
- 14
- Frequency
- quarterly
- Beta
- 0.47
- Market Cap
- $12.6B
- P/E Ratio
- 19.6
- 5-Yr Total Return
- 63%
- 52-Week Range
- $86.18 – $111.16
- Dividend Safety
- A · 88/100
- Ever Cut?
- Yes (1994)
PNW dividend raises and cuts
Pinnacle West Capital Corporation (PNW) has raised its regular dividend 28 times and cut it 1 time across the 144 payments on record since 1973. Its most recent change was a 1.6% increase to $0.925 per share, going ex-dividend on Nov 2, 2026. The last cut went ex-dividend on Jan 26, 1989.
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| Nov 2, 2026 | Raise | $0.910 → $0.925 | +1.6% |
| Nov 3, 2025 | Raise | $0.895 → $0.910 | +1.7% |
| Nov 4, 2024 | Raise | $0.880 → $0.895 | +1.7% |
| Oct 31, 2023 | Raise | $0.865 → $0.880 | +1.7% |
| Oct 31, 2022 | Raise | $0.850 → $0.865 | +1.8% |
| Nov 15, 2021 | Raise | $0.830 → $0.850 | +2.4% |
| Oct 30, 2020 | Raise | $0.783 → $0.830 | +6.0% |
| Nov 1, 2019 | Raise | $0.738 → $0.783 | +6.1% |
| Oct 31, 2018 | Raise | $0.695 → $0.738 | +6.2% |
| Oct 31, 2017 | Raise | $0.655 → $0.695 | +6.1% |
| Oct 28, 2016 | Raise | $0.625 → $0.655 | +4.8% |
| Oct 29, 2015 | Raise | $0.595 → $0.625 | +5.0% |
Show all 29 changes since 1989
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| Oct 30, 2014 | Raise | $0.568 → $0.595 | +4.8% |
| Oct 31, 2013 | Raise | $0.545 → $0.568 | +4.2% |
| Oct 31, 2012 | Raise | $0.525 → $0.545 | +3.8% |
| Oct 30, 2006 | Raise | $0.500 → $0.525 | +5.0% |
| Oct 28, 2005 | Raise | $0.475 → $0.500 | +5.3% |
| Oct 28, 2004 | Raise | $0.450 → $0.475 | +5.6% |
| Oct 30, 2003 | Raise | $0.425 → $0.450 | +5.9% |
| Oct 30, 2002 | Raise | $0.400 → $0.425 | +6.2% |
| Oct 30, 2001 | Raise | $0.375 → $0.400 | +6.7% |
| Oct 30, 2000 | Raise | $0.350 → $0.375 | +7.1% |
| Oct 28, 1999 | Raise | $0.325 → $0.350 | +7.7% |
| Oct 29, 1998 | Raise | $0.300 → $0.325 | +8.3% |
| Oct 30, 1997 | Raise | $0.275 → $0.300 | +9.1% |
| Oct 30, 1996 | Raise | $0.250 → $0.275 | +10.0% |
| Oct 30, 1995 | Raise | $0.225 → $0.250 | +11.1% |
| Oct 26, 1994 | Raise | $0.200 → $0.225 | +12.5% |
| Jan 26, 1989 | Cut | $0.700 → $0.400 | −42.9% |
Frequently Asked Questions
Is PNW a good dividend stock?
Yes. Pinnacle West Capital Corporation (PNW) pays a quarterly dividend yielding 3.50% ($3.70/yr), with 14 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 PNW undervalued?
Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, PNW's fair value is about $119.78 versus a $104.05 share price — so it looks undervalued (+15% vs. fair value).
Is PNW's dividend safe?
PNW has a dividend-safety grade of A (88/100), based on its payout coverage, free-cash-flow, 14-year growth streak, a dividend cut in 1994, debt and yield-versus-history.
What is PNW's fair value?
Our blended fair-value estimate for PNW is about $119.78 per share, roughly 15% above the current $104.05 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.
Is PNW a buy, hold, or sell?
We don't issue formal ratings, but on the data PNW screens as "yes" and undervalued. Pinnacle West Capital Corporation (PNW) pays a quarterly dividend yielding 3.50% ($3.70/yr), with 14 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 PNW cut its dividend?
PNW earns a dividend-safety grade of A (88/100), and has cut its dividend before (last in 1994). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.
Does PNW pay a dividend?
Yes. Pinnacle West Capital Corporation pays a quarterly dividend of about $3.70 per share annually, a forward yield of roughly 3.50%.
How much dividend does 100 shares of PNW pay?
At $3.70 per share a year, 100 shares of PNW pay $370.00 a year in dividends before tax, about $92.50 each quarter. Buying them costs about $10,405 at the Nov 5, 2026 price.
What is PNW's dividend yield?
As of Nov 5, 2026, PNW's forward dividend yield is 3.50%, based on a $3.70 annual dividend and a $104.05 share price.
What is PNW's dividend per share?
As of Nov 5, 2026, PNW pays $3.70 per share per year, distributed on a quarterly basis.
What is PNW's dividend payout ratio?
As of Nov 5, 2026, PNW's payout ratio is 68% of trailing 12-month earnings — a moderate level that's generally sustainable.
How many years has PNW grown its dividend?
As of Nov 5, 2026, PNW has increased its dividend for 14 consecutive years.
When is the next PNW ex-dividend date?
As of Nov 5, 2026, PNW's next ex-dividend date hasn't been announced. The most recent was Nov 2, 2026, for $0.93 per share.
PNW Price — Last 12 Months
Daily close
Price Return
1 Year
+17%
3 Years
+42%
5 Years
+63%
52-Week Range
$86.18 – $111.16
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is PNW worth?
Undervaluedmedium confidenceOur blended fair-value estimate for Pinnacle West Capital Corporation is $119.78 per share, versus a market price of $104.05. That implies 15% of upside — a margin of safety of about 13%.
Fair Value
$119.78
Current Price
$104.05
Upside
+15%
Margin of Safety
13%
How we get there
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 40.0% annual free-cash-flow growth. We model 10.3% — so the price already assumes faster growth than we think is likely.
Assumptions: 8.0% discount rate (CAPM), 10.3% growth for five years fading to 2.5% over the next five, $5.21 EPS, $3.70 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
PNW 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 PNW dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Nov 2, 2026 | Dec 1, 2026 | $0.9250 | regular |
| Aug 3, 2026 | Sep 1, 2026 | $0.9100 | regular |
| May 4, 2026 | Jun 1, 2026 | $0.9100 | regular |
| Feb 2, 2026 | Mar 2, 2026 | $0.9100 | regular |
| Nov 3, 2025 | Dec 1, 2025 | $0.9100 | regular |
| Aug 1, 2025 | Sep 2, 2025 | $0.8950 | regular |
| May 5, 2025 | Jun 2, 2025 | $0.8950 | regular |
| Feb 3, 2025 | Mar 3, 2025 | $0.8950 | regular |
| Nov 4, 2024 | Dec 2, 2024 | $0.8950 | regular |
| Aug 1, 2024 | Sep 3, 2024 | $0.8800 | regular |
| Apr 30, 2024 | Jun 3, 2024 | $0.8800 | regular |
| Jan 31, 2024 | Mar 1, 2024 | $0.8800 | regular |
| Oct 31, 2023 | Dec 1, 2023 | $0.8800 | regular |
| Jul 31, 2023 | Sep 1, 2023 | $0.8650 | regular |
Income Calculator
At $3.70 / yr per share
Similar Dividend Stocks
Compare PNW
Explore more
Lists and tools related to PNW
- Companies that raise dividends in October →
- Stocks that pay dividends in December →
- Undervalued dividend stocks →
- Safest dividend stocks →
- Utilities dividend stocks →
- PNW dividend calculator →
- PNW DRIP calculator →
- PNW: last day to buy for the dividend →
- Embed PNW dividend data on your site →
- Dividend increases & cuts this week →
- Dividend calendar →
- Dividend calculator →
- Dividend income calculator →
- DRIP calculator →
- Latest dividend cuts →
- Dividend cuts this month (research note) →
- Dividend increases this month (research note) →
- Safety score track record →
- Dividend screener →
- Dividend history lookup →
- Guide: what is a good dividend yield? →
- Guide: how to value a dividend stock →