Pinnacle West Capital Corporation
PNWUtilities · Stock · quarterly payer
Forward Yield
3.86%
Annual Dividend
$3.64
Payout Ratio
70%
5-Yr Growth
2.5%
Ex-Date
Aug 3, 2026
Frequency
Quarterly
Summary
As of September 2026, Pinnacle West Capital Corporation (PNW) yields 3.86% ($3.64 per share annually), with a blended fair-value estimate of $127.90 — +36% upside, so it screens as undervalued. Dividend safety grade: A (88/100). 14 years of dividend growth.
Is PNW a good dividend stock?
YesPinnacle West Capital Corporation (PNW) pays a quarterly dividend yielding 3.86% ($3.64/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
- 46% total price return over 5 years
- Top-tier dividend safety score
Risks
- Cut its dividend in 1994
Key Data
- Dividend Yield
- 3.86%
- Payout Ratio
- 70%
- Annual Dividend
- $3.64
- 5-Yr Avg Growth
- 2.5%
- Ex-Dividend Date
- Aug 3, 2026
- Years of Growth
- 14
- Frequency
- quarterly
- Beta
- 0.44
- Market Cap
- $11.4B
- P/E Ratio
- 18.1
- 5-Yr Total Return
- 46%
- 52-Week Range
- $85.91 – $111.16
- Dividend Safety
- A · 88/100
- Ever Cut?
- Yes (1994)
Frequently Asked Questions
PNW Price — Last 12 Months
Daily close
Price Return
1 Year
+6%
3 Years
+27%
5 Years
+46%
52-Week Range
$85.91 – $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 $127.90 per share, versus a market price of $94.21. That implies 36% of upside — a margin of safety of about 26%.
Fair Value
$127.90
Current Price
$94.21
Upside
+36%
Margin of Safety
26%
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 10.5% — so the price already assumes faster growth than we think is likely.
Assumptions: 7.0% discount rate (CAPM), 10.5% stage-1 growth, 2.5% terminal growth, $5.21 EPS, $3.64 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
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Aug 3, 2026 | — | $0.9100 | regular |
| May 4, 2026 | — | $0.9100 | regular |
| Feb 2, 2026 | — | $0.9100 | regular |
| Nov 3, 2025 | — | $0.9100 | regular |
| Aug 1, 2025 | — | $0.8950 | regular |
| May 5, 2025 | — | $0.8950 | regular |
| Feb 3, 2025 | — | $0.8950 | regular |
| Nov 4, 2024 | — | $0.8950 | regular |
| Aug 1, 2024 | — | $0.8800 | regular |
| Apr 30, 2024 | — | $0.8800 | regular |
| Jan 31, 2024 | — | $0.8800 | regular |
| Oct 31, 2023 | — | $0.8800 | regular |
| Jul 31, 2023 | — | $0.8650 | regular |
| Apr 28, 2023 | — | $0.8650 | regular |
Income Calculator
At $3.64 / yr per share
