DUK Dividend Calculator
Dividend growth rate (CAGR)
| Year | Yield | Div / share | Annual income | Yield on cost | Cumulative income | Portfolio value | Shares |
|---|---|---|---|---|---|---|---|
| 1 | 3.3% | $4.26 | $343.00 | 2.8% | $343.00 | $13,191 | 102.08 |
| 2 | 3.2% | $4.35 | $443.92 | 3.0% | $786.92 | $16,611 | 123.66 |
| 3 | 3.2% | $4.44 | $548.48 | 3.2% | $1,335 | $20,273 | 145.19 |
| 4 | 3.1% | $4.52 | $656.76 | 3.4% | $1,992 | $24,190 | 166.66 |
| 5 | 3.1% | $4.61 | $768.88 | 3.5% | $2,761 | $28,375 | 188.07 |
| 6 | 3.0% | $4.71 | $884.91 | 3.6% | $3,646 | $32,845 | 209.42 |
| 7 | 2.9% | $4.80 | $1,005 | 3.7% | $4,651 | $37,613 | 230.71 |
| 8 | 2.9% | $4.89 | $1,129 | 3.9% | $5,780 | $42,696 | 251.93 |
| 9 | 2.8% | $4.99 | $1,258 | 4.0% | $7,038 | $48,111 | 273.10 |
| 10 | 2.8% | $5.09 | $1,390 | 4.1% | $8,428 | $53,875 | 294.20 |
Year 1-10 dividend income (preview)
Based on a $10,000 initial investment with $200.00 monthly contributions, DRIP on.
Historical dividends per share
Recent dividends
| Ex-date | Cash amount | TTM yield | Fwd yield | Share price |
|---|---|---|---|---|
| 2026-05-15 | $1.07 | 4.3% | 3.4% | $124.31 |
| 2026-02-13 | $1.07 | 4.1% | 3.3% | $128.20 |
| 2025-11-14 | $1.07 | 4.3% | 3.5% | $122.71 |
| 2025-08-15 | $1.07 | 4.3% | 3.5% | $122.45 |
| 2025-05-16 | $1.05 | 3.6% | 3.6% | $116.26 |
| 2025-02-14 | $1.05 | 3.7% | 3.7% | $111.60 |
| 2024-11-15 | $1.05 | 3.7% | 3.7% | $112.17 |
| 2024-08-16 | $1.05 | 3.7% | 3.7% | $112.30 |
| 2024-05-16 | $1.03 | 4.0% | 4.0% | $102.84 |
| 2024-02-15 | $1.03 | 5.5% | 4.4% | $92.36 |
| 2023-11-16 | $1.03 | 5.6% | 4.5% | $90.18 |
| 2023-08-17 | $1.03 | 4.5% | 4.5% | $90.70 |
Source: Polygon.io. Last 12 dividend distributions, most recent first. TTM yield = sum of last 12 months of payments ÷ share price on ex-date. Forward yield = this payment × detected payout frequency ÷ share price on ex-date.
About DUK
Duke Energy Corporation — ticker DUK — is one of the largest regulated electric utilities in the United States, serving roughly eight million customers across the Carolinas, Florida, Indiana, Ohio, and Kentucky. The dividend record is long and stable: Duke has raised its dividend in each of the last roughly eighteen consecutive years, placing it in the long-streak bracket for US utilities even though it has not yet crossed the twenty-five-year Aristocrat threshold. The streak reflects the structural cash-flow stability of the regulated-utility business model — state public-utility commissions set the rates Duke is allowed to charge customers, and the resulting revenue is tied to a regulated rate base rather than to commodity prices or to discretionary customer demand. That structural insulation is what makes utility dividends generally more reliable than industrial or consumer-cyclical dividends, and Duke's eighteen-year-plus record sits well inside the cohort of US utilities that have raised through the 2008-09 financial crisis, the 2014-16 commodity downturn, and the 2020 COVID demand shock.
Duke operates in the Utilities sector, specifically regulated electric utility, with a smaller regulated natural-gas distribution segment in the Carolinas, Tennessee, Kentucky, and Ohio. The business is organized around state-specific utility subsidiaries — Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana, Duke Energy Ohio, and Duke Energy Kentucky — each operating under its own state regulatory regime. The Florida operations and the Carolinas operations together account for the majority of consolidated earnings, with Indiana and the smaller Midwest subsidiaries contributing the balance. Duke divested its commercial renewable-energy portfolio in 2023 to focus on the regulated utility business — that divestiture removed the most volatile and non-regulated portion of the consolidated earnings line and shifted Duke further toward a pure regulated-utility profile. The dividend mandate has been embedded in Duke's capital-allocation policy for decades, supported by the predictable regulated cash flows and by the long-run free-cash-flow capacity of the rate base.
The capital structure is heavily leveraged in absolute terms, which is normal for a regulated utility — debt is a cheap source of financing for long-lived assets, and credit-rating agencies accept higher leverage at utilities than at industrials because of the regulated revenue stream. Duke maintains an investment-grade credit profile (BBB+/Baa1-rated), and the capex program — grid modernization, renewable-generation additions, and grid-hardening investments — is funded through a combination of operating cash flow, regulated rate-base growth, and incremental debt issuance. The capex line is heavy and persistent — Duke regularly invests $10-13 billion per year in the rate base, which is the structural driver of long-run earnings and dividend growth in a regulated utility. Expense ratio is not applicable to individual stocks — the figure you'll see in the calculator above is zero, since there is no fund wrapper between you and the underlying shares.
How DUK pays dividends
Duke Energy pays cash dividends quarterly, on a March–June–September–December cadence. The board declares the per-share amount each quarter; the ex-dividend date typically falls in the third or fourth week of the second month of each quarter, and the pay date falls in the second or third week of the following month. Holders who own shares as of the close on the day before the ex-date receive the dividend; holders who buy on or after the ex-date wait for the next quarterly payment. On the ex-date the share price drops by approximately the distribution amount on the open, reflecting the fact that the company has paid the cash out of its balance sheet.
Holders who DRIP through their broker receive additional shares purchased at the prevailing market price around the pay date. Most major brokers offer fractional-share DRIP for Duke, so the full cash distribution is reinvested even when the per-share amount divided by the share price doesn't produce a whole number. The mechanics are identical to any other quarterly US dividend stock — there is no managed-distribution policy, no covered-call overlay, and the cash that funds the dividend comes from the regulated rate-base earnings of the state-specific utility subsidiaries.
Recent growth pattern: Duke has typically raised the quarterly per-share amount once per year, with the new rate announced in the summer and taking effect on the September payment. The size of the annual hike has run in the low single digits — typically two-to-three-percent ranges, modest by Aristocrat-grower standards but consistent with the regulated-utility capital-allocation profile. The five-year trailing dividend growth rate has run in the low single digits, and management has been explicit that capex requirements and credit-rating maintenance constrain the rate at which the dividend can grow above the rate-base growth rate. The calculator on this page uses a recent dividend growth rate to project the income line forward; for Duke, modeling with a low-single-digit growth assumption is structurally honest because the regulated capital-allocation framework imposes a ceiling on dividend growth that is closely tied to rate-base growth.
Duke's dividends are qualified for the long-term capital-gains rate in taxable accounts, given the standard sixty-day holding-period rule. In tax-advantaged accounts the qualified-dividend treatment is moot because no current-year tax applies. The yield typically sits in the three-and-a-half to four-percent range — substantially above the broader US equity market average and consistent with the utility-as-bond-proxy positioning.
Who DUK suits
Duke suits investors who want a stable current cash yield from a regulated US utility with a long-running annual-increase record, and who accept that the underlying dividend growth rate is in the low single digits rather than the mid-to-high single digits of higher-growth dividend stocks. The trade-off is the classic utility profile: a high current yield in exchange for slow dividend growth, supported by regulated cash flows that are structurally insulated from commodity prices and discretionary demand. The yield level is partly the function of utility-as-bond-proxy interest-rate sensitivity — utility share prices tend to fall when long-term interest rates rise, and the resulting yield expansion is a recurring feature of the utility sector rather than a Duke-specific signal of business distress.
The comparison readers most often want is DUK versus other large US regulated utilities — Southern Company (SO), NextEra Energy (NEE), and American Electric Power (AEP) being the most common reference points. Against SO, Duke and Southern occupy similar profiles in the regulated-utility cohort — both yielding in the three-to-four-percent range, both with multi-decade increase records, both with heavy capex programs tied to grid modernization and energy transition. Against NEE, Duke is the slower-growth, higher-current-yield alternative: NEE's blend of regulated Florida utility (FPL) with the NEER renewable-generation arm produces a higher dividend growth rate at a lower current yield, while Duke's pure regulated profile produces the inverse. An investor seeking diversified regulated-utility exposure can hold Duke alongside Southern and NextEra for partially independent geographic and business-model footprints.
The interest-rate sensitivity is structurally relevant for any utility holding. When the Fed raises short-term rates and long-term Treasury yields rise, utility share prices tend to fall as the income spread above Treasuries compresses; when long-term rates fall, utility share prices tend to rise. This is a recurring feature of holding utilities, not a Duke-specific dynamic, and the relative attractiveness of a four-percent utility yield depends materially on the level of risk-free rates at the time of evaluation. Combined with the capex-heavy structural profile and the regulated revenue model, Duke's high yield should be read as a complete-picture position rather than as an isolated income feature.
In taxable accounts, Duke's dividends benefit from qualified-dividend treatment. In tax-advantaged accounts the treatment is moot. As with any single-stock position, this content is educational only; it is not a recommendation to buy, sell, or hold Duke, and individual circumstances vary. Utility-specific risks — including state regulatory outcomes on rate-case filings, the pace of grid modernization capex, interest-rate sensitivity, and the long-run path of the regulated rate base — should be weighed against the long-streak dividend continuity record.
Hypothetical scenarios
Scenario 1: $10,000 invested in Duke Energy ten years ago
Consider a hypothetical purchase of $10,000 of Duke Energy stock ten years ago, held through to the present with quarterly dividends reinvested via DRIP. The ten-year window for Duke is informative because it spans multiple interest-rate regimes — the low-rate environment of the late 2010s, the abrupt rate-hike cycle of 2022-23, and the partial normalization that followed — and Duke's price has tracked those rate regimes meaningfully even while the dividend continued its annual-increase pattern uninterrupted. The annual hike cadence held across the entire window, with the new per-share quarterly amount announced each summer and taking effect on the September payment, even through the COVID-19 demand shock and through the 2022-23 rate-hike pressure that drove utility share prices materially lower.
Three structural forces operate over the holding window. First, the per-share dividend grew each year at a low-single-digit pace, supported by regulated rate-base growth across the state utility subsidiaries. Second, the share count grew as DRIP reinvested every quarterly distribution; given Duke's entry yield of roughly three-and-a-half to four percent, DRIP contributed a structurally larger share of share-count growth than at lower-yield names, and the cumulative DRIP share buildup over a ten-year window is meaningful. Third, the share price moved with long-term interest rates more than with company-specific operating performance — a structural feature of utilities generally rather than a Duke-specific dynamic. The DRIP reinvestment therefore happened at a wide range of prices across the rate cycle, with the buyer effect favoring DRIP during the rate-pressure windows when utility prices were lower.
The illustrative outcome is not a precise dollar figure. The structural point is that Duke's regulated-utility profile combined with the long-streak annual-increase record produces a total return whose primary contributors are the current dividend yield and the slow per-share growth, with the share-price line oscillating around interest-rate regimes more than driving long-run returns. This is offered as a structural illustration of how a regulated-utility DRIP position compounds, not as a forecast of future returns. The central uncertainty across a future window is the path of long-term interest rates and the corresponding repricing of utility yields relative to risk-free rates.
Scenario 2: $50,000 today plus $500/month for 20 years
Consider a hypothetical accumulation strategy in Duke Energy: $50,000 starting capital, plus $500 per month added on a regular cadence for 20 years. The calculator on this page can model this exactly — set Initial investment to $50,000, Extra contribution to $500, Contribution frequency to Monthly, time horizon to 20 years, and leave DRIP on. Use a conservative dividend growth assumption — low single digits, roughly three percent — consistent with Duke's long-run regulated-rate-base growth profile and acknowledging that the structural ceiling on utility dividend growth is closely tied to rate-base growth across the state subsidiaries.
The mechanics: each month, the new $500 buys additional shares at the current price, which adds to the share count and therefore to next quarter's dividend. Each quarter, the dividend received from all accumulated shares is reinvested, adding more shares at the prevailing price. Because Duke's entry yield is high — typically three-and-a-half to four percent — the DRIP component contributes a relatively larger share of share-count growth than the same DCA setup would for a lower-yield growth stock. Over 20 years this builds a position whose annual cash distribution is meaningful, with the magnitude sensitive to the per-share growth assumption and to the timing of share-price oscillations driven by interest-rate cycles within the contribution window.
What's worth focusing on in the calculator is how sensitive the projection is to the dividend growth assumption and to whether the regulated capex program continues to produce the rate-base growth that underwrites the slow dividend growth. With 2% per-share growth, the income line grows mostly through share-count expansion from contributions and DRIP. With a 4% per-share growth assumption — at the high end of Duke's recent range — the per-share line contributes a more meaningful share of total income growth. Modeling Duke with a growth assumption inside that range is reasonable, with the more conservative figure capturing the risk that regulatory outcomes on rate-case filings produce a lower rate-base growth trajectory than recent years. Real outcomes depend on Duke's regulated cash flow generation, the path of state utility regulation, the capex program timing, tax treatment in your specific account, interest-rate path effects on utility share prices, and the broader path of US equity markets. Educational only; not a forecast.
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: 2026-05-15.
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.