Forward Dividend = latest regular dividend per period x payments per year; Forward Yield = Forward Dividend / Price
The forward dividend annualizes the current payout rate.
What it is
The forward dividend is an estimate of the dividends per share a company will pay over the coming year, usually calculated by annualizing the most recent regular dividend. For a quarterly payer it is the latest quarterly dividend multiplied by four. It is forward-looking, unlike the trailing dividend, which sums the past 12 months actually paid.
Why it matters
The forward dividend drives the forward dividend yield, which is what most quote pages show, so it shapes how income investors compare stocks. Because it assumes the current rate continues, it can overstate income if a cut is coming or understate it just before an expected raise.
How it's calculated
Multiply the most recent regular dividend per share by the number of payments per year (4 for quarterly, 12 for monthly, 2 for semi-annual). Special dividends are excluded.
How Quintarthai uses it
See the annualized dividend and forward yield in the key-metrics grid on a company's deep-analysis page (Summary tab).
Cross-border note. Annualize using the payment frequency the company actually uses: many Canadian issuers and REITs pay monthly (multiply by 12), while most U.S. companies pay quarterly (multiply by 4). Also confirm the dividend's native currency before comparing forward yields across the border.
FAQ
What is the difference between forward and trailing dividend?
Forward dividend annualizes the current rate to estimate the next 12 months; trailing dividend adds up what was actually paid over the past 12 months. They differ whenever the rate recently changed or a special dividend was paid.
Does the forward dividend include special dividends?
No. It is based on the regular, recurring dividend only. One-time special dividends are excluded so the figure reflects sustainable income.
Check your understanding
A U.S. company just paid a quarterly dividend of $0.50 per share. What is its forward dividend, and what does that figure assume?
The forward dividend annualizes the latest regular payment ($0.50 x 4 = $2.00), assuming the current rate continues, and it excludes special dividends.