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CMS Energy Corporation (CMS)
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CMS Dividends

CMS Energy Corporation (CMS) pays $2.22 in dividends per share, with a current dividend yield of 3.02%. The company has dividend history for 18 consecutive years.

CMS Dividend Summary

Consecutive Years

18

Most Recent Ex-Date

May 8, 2026

Most Recent Payment

May 29, 2026

CMS Dividends per Share (Nominal History)

View full nominal table list

This step chart displays the nominal dividend payouts over time on their actual payment dates, matching the distribution frequency.

CMS Dividends CAGR Chart

CMS Energy Corporation (CMS)

Annual Dividend History

YearDividend/ShareYoY Growth
2026(YTD)$1.14
2025$2.17+5.34%
2024$2.06+5.61%
2023$1.95+6.01%
2022$1.84+5.75%
2021$1.74+6.75%
2020$1.63+6.54%
2019$1.53+6.99%
2018$1.43+7.52%
2017$1.33+7.26%
2016$1.24+6.90%
2015$1.16+7.41%
2014$1.08+5.88%
2013$1.02+6.25%
2012$0.96+14.29%
2011$0.84+27.27%
2010$0.66+32.00%
2009$0.50+38.89%
2008$0.36+80.00%
2007$0.20-81.65%

Quarterly Dividend History

QuarterDividend/ShareYoY Growth
Q2 2026$0.57+5.07%
Q1 2026$0.57+5.07%
Q4 2025$0.54+5.34%
Q3 2025$0.54+5.34%
Q2 2025$0.54+5.34%
Q1 2025$0.54+5.34%
Q4 2024$0.52+5.64%
Q3 2024$0.52+5.64%
Q2 2024$0.52+5.64%
Q1 2024$0.52+5.53%
Q4 2023$0.49+5.98%
Q3 2023$0.49+5.98%
Q2 2023$0.49+5.98%
Q1 2023$0.49+6.09%
Q4 2022$0.46+5.75%
Q3 2022$0.46+5.75%
Q2 2022$0.46+5.75%
Q1 2022$0.46+5.75%
Q4 2021$0.43+6.75%
Q3 2021$0.43+6.75%
Q2 2021$0.43+6.75%
Q1 2021$0.43+6.75%
Q4 2020$0.41+6.54%
Q3 2020$0.41+6.54%

Dividend Yield Metrics

Current Yield
3.02%
Average Yield (TTM)
3.02%
Average Yield (3Y)
2.80%
Forward Yield on Cost (3Y)
3.77%
Forward Yield on Cost (5Y)
4.37%
Forward Yield on Cost (10Y)
6.31%

Payout Ratio Analysis

Payout Ratio (Current)
63.03%
FCF Payout Ratio
N/A
Payout Ratio (3Y Avg)
62.65%
Payout Ratio (5Y Avg)
58.02%
FCF Payout (3Y Avg)
544.61%
FCF Payout (5Y Avg)
698.98%

An FCF payout above 100% means dividends exceeded the period's free cash flow, often because of temporarily depressed FCF (one-off capex or working-capital swings) rather than an unfunded dividend. Compare against the earnings payout ratio and the multi-year trend before drawing a conclusion.

Dividend Coverage

Payout Ratio
63.0%
Dividends / net income
FCF Payout Ratio
N/A
Dividends / free cash flow
Consecutive Years
18 years
Years with regular dividend payments
5Y Dividend Growth
5.9%
Compound annual dividend growth

About CMS Energy Corporation

CMS Energy Corporation (CMS) operates as a significant utility provider with its primary services concentrated in Michigan. The company's business is structured into three main divisions: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment encompasses the full spectrum of electricity operations, from generating power using a variety of sources—including coal, wind, natural gas, renewable energies, oil, and nuclear—to its subsequent purchase, transmission, distribution, and sale to customers. Its extensive electrical grid is supported by approximately 4,636 miles of high-voltage overhead distribution lines, 23 miles of high-voltage underground distribution lines, an additional 82,474 miles of electric overhead distribution lines, and 9,395 miles of underground distribution lines. This vast network also includes 1,093 substations and 3 battery storage facilities. The Gas Utility division is responsible for procuring, transmitting, storing, distributing, and selling natural gas. This segment's infrastructure features 2,392 miles of transmission pipelines, 15 natural gas storage fields, 28,065 miles of distribution mains, and 8 compressor stations. The Enterprises segment specializes in independent power generation and energy marketing, particularly focusing on the development and operation of renewable energy projects. CMS Energy serves a considerable customer base, providing electricity to 1.9 million clients and natural gas to 1.8 million clients, spanning residential, commercial, and diverse industrial sectors. The company was established in 1987 and its corporate headquarters are situated in Jackson, Michigan.

Jackson, MI
8,324 employees
Utilities / Regulated Electric
Sector
Utilities
Industry
Regulated Electric
CEO
Garrick J. Rochow