Basis: Trailing twelve months (TTM). Source: stored company filings and market data; unavailable inputs remain N/A.
The yield on cost (YOC) is 1.46%.
YIELD ON COST (YOC)
1.46%
CMI now pays $8.20 per share a year. Measured against the price it actually traded at back then, a long-term holder is earning:
| If you bought | Price then | Yield on cost today |
|---|---|---|
| 10 years ago(2016-09-01) | $125.41 | 6.54% |
| 5 years ago(2021-08-30) | $238.69 | 3.44% |
| 3 years ago(2023-08-31) | $230.04 | 3.56% |
| 1 year ago(2025-09-05) | $399.85 | 2.05% |
| Buying today(at $564.27) | $564.27 | 1.46% |
Projection: starting from today's 1.46% yield, assuming the dividend keeps compounding at 8.2% a year — the recent growth rate of its annual payout. Boards set dividends each year, so actual figures will differ.
Today
1.46%
In 3 years
1.85%
In 5 years
2.16%
In 10 years
3.18%
Try your own purchase price, dividend and growth rate for Cummins Inc. (CMI).
Starting Yield
1.45%
Ending YOC
4.40%
Year 15 Dividend
$24.81
Cum. Dividends Recd.
$233.45
| Year | Projected Div. / Share | YoY Dividend Hike | Yield on Cost (YOC) | Total Dividends Recd. |
|---|---|---|---|---|
| Initial | $8.20 | N/A | 1.45% | $0.00 |
| Year 1 | $8.83 | +7.66% | 1.56% | $8.83 |
| Year 2 | $9.50 | +7.66% | 1.68% | $18.33 |
| Year 3 | $10.23 | +7.66% | 1.81% | $28.56 |
| Year 4 | $11.02 | +7.66% | 1.95% | $39.58 |
| Year 5 | $11.86 | +7.66% | 2.10% | $51.44 |
| Year 6 | $12.77 | +7.66% | 2.26% | $64.21 |
| Year 7 | $13.75 | +7.66% | 2.44% | $77.96 |
| Year 8 | $14.80 | +7.66% | 2.62% | $92.76 |
| Year 9 | $15.93 | +7.66% | 2.82% | $108.69 |
| Year 10 | $17.15 | +7.66% | 3.04% | $125.84 |
| Year 11 | $18.47 | +7.66% | 3.27% | $144.31 |
| Year 12 | $19.88 | +7.66% | 3.52% | $164.19 |
| Year 13 | $21.41 | +7.66% | 3.79% | $185.60 |
| Year 14 | $23.04 | +7.66% | 4.08% | $208.64 |
| Year 15 | $24.81 | +7.66% | 4.40% | $233.45 |
Yield on cost is the dividend yield measured against your original purchase price, not today's price. As a company raises its dividend, the yield on what you actually paid keeps rising even when the market yield holds steady.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
