ATO Dividend Calculator
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Dividend growth rate (CAGR)
| Year | Start Balance | Start Shares | Share Price | Dividend / Share | Dividend Yield | Yield on Cost | Annual Dividend | Total Dividends | End Shares | End Balance |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | $10,000 | 59.13 | $188.12 | $4.01 | 2.13% | 2.17% | $268.76 | $268.76 | 74.01 | $13,923 |
| 2 | $13,923 | 74.01 | $209.25 | $4.37 | 2.09% | 2.40% | $355.12 | $623.88 | 87.83 | $18,377 |
| 3 | $18,377 | 87.83 | $232.75 | $4.76 | 2.05% | 2.62% | $449.99 | $1,074 | 100.67 | $23,430 |
| 4 | $23,430 | 100.67 | $258.89 | $5.19 | 2.00% | 2.83% | $554.28 | $1,628 | 112.63 | $29,159 |
| 5 | $29,159 | 112.63 | $287.96 | $5.65 | 1.96% | 3.04% | $668.99 | $2,297 | 123.81 | $35,651 |
| 6 | $35,651 | 123.81 | $320.30 | $6.16 | 1.92% | 3.26% | $795.21 | $3,092 | 134.26 | $43,003 |
| 7 | $43,003 | 134.26 | $356.27 | $6.71 | 1.88% | 3.49% | $934.15 | $4,026 | 144.07 | $51,326 |
| 8 | $51,326 | 144.07 | $396.27 | $7.31 | 1.85% | 3.72% | $1,087 | $5,114 | 153.28 | $60,742 |
| 9 | $60,742 | 153.28 | $440.78 | $7.97 | 1.81% | 3.97% | $1,256 | $6,369 | 161.97 | $71,391 |
| 10 | $71,391 | 161.97 | $490.28 | $8.68 | 1.77% | 4.24% | $1,441 | $7,810 | 170.17 | $83,430 |
S&P 500 is included only as a total-portfolio-value reference — it isn't the most meaningful benchmark for income-focused strategies. The 10% baseline reflects the index's long-term nominal total return (price + dividends), a reference rather than a forecast.
Historical dividends per share
Over the last 5 years, ATO's dividend grew 8.97%/yr and its share price grew 11.23%/yr. Forward yield: 2.29%. Yield drifted from 3.9% to 2.7%.
Based on dividends paid August 2011 to May 2026.
Recent dividends
| Ex-date | Cash amount | TTM yield | Fwd yield | Share price |
|---|---|---|---|---|
| 2026-05-26 | $1.00 | 2.18% | 2.25% | $177.72 |
| 2026-02-23 | $1.00 | 2.06% | 2.20% | $181.72 |
| 2025-11-24 | $1.00 | 2.07% | 2.29% | $174.56 |
| 2025-08-25 | $0.87 | 2.10% | 2.10% | $165.45 |
| 2025-05-27 | $0.87 | 2.18% | 2.22% | $156.49 |
| 2025-02-25 | $0.87 | 2.23% | 2.31% | $150.39 |
| 2024-11-25 | $0.87 | 2.19% | 2.32% | $150.18 |
| 2024-08-26 | $0.81 | 2.47% | 2.47% | $130.19 |
| 2024-05-24 | $0.81 | 2.80% | 2.86% | $112.61 |
| 2024-02-23 | $0.81 | 2.74% | 2.86% | $112.76 |
| 2023-11-24 | $0.81 | 2.70% | 2.88% | $112.00 |
| 2023-08-18 | $0.74 | 2.53% | 2.53% | $116.96 |
Source: Polygon.io. Last 12 dividend distributions, most recent first. TTM yield = sum of this payment + (frequency − 1) prior payments ÷ share price on ex-date. Forward yield = this payment × detected payout frequency ÷ share price on ex-date.
About ATO
Atmos Energy Corporation — ticker ATO — is one of the largest pure-play natural gas distribution utilities in the United States. The company delivers natural gas to roughly three million distribution customers across eight states, with a meaningful concentration in Texas. The business is heavily regulated: the distribution and pipeline operations earn returns set by state public utility commissions, which gives the income stream much of its predictability across economic cycles. ATO operates two segments — Distribution (regulated retail gas delivery) and Pipeline and Storage (an intrastate Texas pipeline and storage business). The combined regulated rate base is the underlying engine for both earnings and the dividend.
The company has raised its dividend every year for more than three consecutive decades, placing ATO firmly in the Dividend Aristocrat tier. The streak is one of the longest among US-listed gas utilities. Annual hikes have historically been mid-single-digit percentage moves, broadly aligned with the company's rate-base growth and the regulatory recovery schedule. The payout ratio tends to sit comfortably below sector norms, reflecting management's stated policy of funding the capital-expenditure program primarily through retained earnings, debt, and equity rather than through cuts to the dividend payout share.
What drives the dividend
The dividend is anchored to regulated rate base growth. As Atmos invests in distribution mains, pipeline integrity, and storage expansion, the state regulators set rates that allow recovery of those capital investments plus an authorized return. The annual dividend hike rate has historically tracked roughly with annual rate-base growth, which in turn tracks the company's capital expenditure cadence. Capex programs of multiple billions of dollars per year over recent rolling windows have been the supporting structural feature.
Why income investors consider ATO
The combination of a multi-decade hike streak, a single-business-line regulated utility profile, and a payout ratio with significant headroom is what places ATO into many income-oriented portfolios. The yield runs lower than electric-utility peers in many windows, reflecting the market's pricing of the dividend safety and growth runway as relatively durable. The trade-off is sensitivity to regulatory outcomes in the few states that drive most of the rate base — particularly Texas — and to natural gas commodity dynamics that affect customer affordability and political support for rate increases.
Hypothetical scenarios
Scenario 1: ATO versus electric utility peers
The natural comparison for ATO is the broader regulated utility group — names like NEE, SO, DUK, and WEC. All four share the structural shape of a regulated utility: rates set by public commissions, capital programs funded over multi-year windows, and dividends supported by predictable rate-base earnings. What differentiates ATO is that it is a pure-play natural gas distributor; the others are predominantly electric utilities, in some cases vertically integrated generation-plus-transmission businesses.
The practical implication for a dividend-focused holder is that ATO's earnings driver is rate-base growth in distribution mains and pipeline investment, while electric utility earnings additionally reflect generation mix decisions and increasingly the energy transition capex cycle. ATO's regulatory exposure is concentrated in a small number of state commissions — Texas in particular — while NEE / SO / DUK / WEC each operate across larger multi-state regulated footprints. Holding ATO alongside one or more electric utilities provides some diversification across regulated-utility sub-segments. The yield typically runs lower at ATO than at SO or DUK, and the dividend growth rate often runs higher than the SO / DUK group, reflecting the difference in capex intensity relative to current cash distributions.
Scenario 2: rate-base growth as the dividend driver
ATO's annual capital expenditure program — recently in the multi-billion-dollar range each year — feeds directly into the regulated rate base in the states it operates in. State public utility commissions allow recovery of approved capital investments plus an authorized return on equity over time. Annual dividend hikes have historically followed roughly the same growth pace as the rate base itself. For a long-horizon income holder, the relevant projection input is therefore the expected capex / rate-base growth path, not generic equity-market dividend-growth norms.
The calculator on this page lets a user run ATO assumptions at different annual dividend growth rates to see how the projected income line responds. Higher assumed growth shifts the income line up exponentially over a 25-year horizon, while keeping the initial yield modest. Running the same scenario at a lower assumed growth — closer to a flat-utility profile — illustrates how much of the projection depends on the rate-base-growth assumption rather than starting yield. This is the structural feature of an ATO investment versus a higher-yielding but slower-growing utility name.
Compare ATO with another ticker
Sources & methodology
Dividend history and price data come from Polygon.io's reference and aggregates endpoints. Forward yield is computed as the sum of the most recent four cash distributions divided by the previous-close share price. The dividend growth rate shown on this page is the compound annual growth rate of total annual distributions across the available history in this snapshot.
Last updated: 2026-05-30.
Information here is for educational purposes only and does not constitute investment advice. Past dividend history does not guarantee future payments. Verify all figures with the issuer or a registered financial advisor before making investment decisions.
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