Trailing Dividend / Share
$2.10
Independent Bank Corp. (INDB) Dividend History
Income profile from 1986 to 2026 with payout safety and yield-on-cost trend
Dividend Yield
2.5%
Payout Ratio
50.7%
Sustainable
Dividend Streak
15 years
INDB Dividend Income Check
Safety
50.7% payout ratio with sustainable safety profile.
Consistency
15 straight years of dividend increases.
Income Trend
Yield on cost is 3.3% and trend is rising.
INDB Dividend Scorecard
Yield & Income
Dividend Yield2.5%
Trailing DPS$2.10
FrequencySemi-Annual
Payments / 12M4
Payout Safety
Earnings Payout50.7%
Earnings SafetySustainable
FCF Payout29.1%
FCF SafetyWell Covered
Piotroski F-Score6/9
Growth
Growth Streak15 years
3Y CAGR4.3%
5Y CAGR5.1%
Yield on Cost (5Y)3.3%
YOC Trendrising
Total Returns
Buyback Yield1.5%
Total Shareholder Yield4.0%
1Y Total Return33.1%
5Y Total Return32.9%
Div Contribution (5Y)15.5%
Estimated $10K growth (return + dividends):
5Y ago$12,04210Y ago$23,23820Y ago$35,870
Uses precomputed total return metrics from screening data (not lot-by-lot dividend reinvestment transactions). Different time windows can produce different outcomes depending on market regime and entry point.
INDB Income Growth Story
Dividend per share and yield on cost over time (38 years of payments)
INDB Dividend Safety Story
EPS is the container — dividend is what's drawn out
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Dividend Analysis
Payout Safety
Independent Bank Corp. distributes 50.7% of earnings as dividends (Sustainable). When measured against free cash flow—a stricter test—the payout ratio stands at 29.1%, rated "Well Covered".
Piotroski F-Score: 6/9 — moderate financial health.
Growth Track Record
INDB has raised its dividend for 15 consecutive years, with a 3-year CAGR of 4.3% and 5-year CAGR of 5.1%.
Total Shareholder Returns
Beyond cash dividends, INDB returns capital through share repurchases. The combined picture: 2.5% dividend yield, 1.5% buyback yield, 4.0% total shareholder yield.
Income Trend & Total Return
Yield on cost (5-year basis) has reached 3.3% and is currently rising. The 5-year total return is 32.9%, with dividends contributing 15.5% of that performance.
DRIP Growth
A $10,000 investment made 10 years ago with dividends reinvested would have grown to approximately $23,238 today.
INDB Recent Dividend Payments
Last 20 payments · Semi-Annual
TTM Total$11.16
Avg/Payment$0.5580
| Ex-Date | Amount | Change | Yield % | Payment Date |
|---|---|---|---|---|
| Jun 29, 2026Latest | $0.6400 | — | 2.95% | Jul 9, 2026 |
| Mar 30, 2026 | $0.6400 | ↑ +8.5% | 3.28% | Apr 9, 2026 |
| Dec 29, 2025 | $0.5900 | — | 3.16% | Jan 7, 2026 |
| Sep 29, 2025 | $0.5900 | — | 3.37% | Oct 7, 2025 |
| Jun 30, 2025 | $0.5900 | — | 3.69% | Jul 7, 2025 |
| Mar 31, 2025 | $0.5900 | ↑ +3.5% | 3.67% | Apr 7, 2025 |
| Dec 30, 2024 | $0.5700 | — | 3.56% | Jan 6, 2025 |
| Sep 30, 2024 | $0.5700 | — | 3.82% | Oct 4, 2024 |
INDB Dividend vs Peers
Comparable companies in the same industry
#6 yield in peer group
Div Yield
2.5%
#6 of 9
Safety
Sustainable
50.7% payout
Streak
15Y
5.1% 5Y CAGR
Total Shareholder
4.0%
#7 of 9
| Company | Mkt Cap | Yield | Payout | Streak | Safety |
|---|---|---|---|---|---|
| INDBIndependent Bank Cor… | $4.1B | 2.5% | 50.7% | 15 | Sustainable |
 WSFSWSFS Financial Corpo… | $4.0B | 0.9% | 12.9% | 1 | Sustainable |
 NBTBNBT Bancorp Inc. | $2.6B | 2.9% | 42.9% | 13 | Sustainable |
 TRMKTrustmark Corporatio… | $2.7B | 2.1% | 26.1% | 1 | Sustainable |
2nd  CVBFCVB Financial Corp. | $3.1B | 3.6% | 53.0% | 0 | Sustainable |
 IBCPIndependent Bank Cor… | $737M | 2.9% | 31.5% | 11 | Sustainable |
1st  SFNCSimmons First Nation… | $3.3B | 3.8% | — | 14 | Unknown |
3rd  FULTFulton Financial Cor… | $4.6B | 3.2% | 36.1% | 5 | Sustainable |
 BOKFBOK Financial Corpor… | $8.5B | 1.7% | 25.5% | 21 | Sustainable |
INDB Annual Dividend History (1986–2026)
41 years of dividend data
GrowthDecline
| Year | DPS | YoY | Pmts | EPS | Payout | Coverage | YOC |
|---|---|---|---|---|---|---|---|
| 2026YTD | $1.28 | — | 2 | — | — | — | 1.8% |
| 2025 | $2.36 | 3.5% | 4 | $4.45 | 53.0% | 1.89x | 3.3% |
| 2024 | $2.28 | 3.6% | 4 | $4.52 | 50.4% | 1.98x | 3.1% |
| 2023 | $2.20 | 5.8% | 4 | $5.42 | 40.6% | 2.46x | 3.0% |
| 2022 | $2.08 | 8.3% | 4 | $5.69 | 36.6% | 2.74x | 2.9% |
| 2021 | $1.92 | 4.3% | 4 | $3.47 | 55.3% | 1.81x | 2.6% |
| 2020 | $1.84 | 4.5% | 4 | $3.64 | 50.5% | 1.98x | 2.5% |
| 2019 | $1.76 | 15.8% | 4 | $5.03 | 35.0% | 2.86x | 2.4% |
| 2018 | $1.52 | -5.0% | 4 | $4.40 | 34.5% | 2.89x | 2.1% |
| 2017 | $1.60 | 37.9% | 5 | $3.19 | 50.2% | 1.99x | 2.2% |
Consensus-Based Analysis Tools
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
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Historical Returns
40+ years return with dividends reinvested.
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DCA Calculator
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Peer Comparison
Compare growth, multiples, and margins vs sector.
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INDB — Frequently Asked Questions
Quick answers to the most common questions about buying INDB stock.
How much dividend does INDB pay per share?
Independent Bank Corp. (INDB) pays a trailing 12-month dividend of $2.10 per share, with a current dividend yield of +2.5%. Payments are made Semi-Annual.
When is INDB's next ex-dividend date?
INDB's most recent ex-dividend date is N/A. You must own shares before the ex-dividend date to receive the next payment. INDB typically pays dividends Semi-Annual.
Is INDB's dividend safe?
INDB's dividend safety is rated "Sustainable" based on an earnings payout ratio of +50.7% and FCF payout ratio of +29.1%. With 15 consecutive years of dividend growth, the track record supports sustainability.
Is INDB a Dividend Achiever?
Yes, Independent Bank Corp. is classified as a Dividend Achiever with 15 consecutive years of dividend increases. The 5-year dividend CAGR is +5.1%, demonstrating above-inflation dividend growth.
How often does INDB pay dividends?
Independent Bank Corp. pays dividends Semi-Annual. The trailing 12-month total is $2.10 per share. Dividend data on this page covers 40+ years from 1986 to 2026.
How much would $10,000 invested in INDB grow with dividend reinvestment?
With dividends reinvested (DRIP), $10,000 invested in INDB five years ago would be worth approximately $12,042 today. This includes both price appreciation and compounded dividend reinvestment. Use the DRIP calculator above for other time periods.
What is INDB's yield on cost for long-term holders?
INDB's yield on cost — the current dividend divided by the original purchase price — is +3.3% for a 5-year holding period. This means long-term holders earn a higher effective yield than today's +2.5% market yield, thanks to consistent dividend growth.