SCHD (Schwab U.S. Dividend Equity ETF) has raised its annual dividend in every calendar year since its 2011 launch — 13 consecutive year-over-year increases through 2025. Its split-adjusted annual dividend grew from roughly $0.27 per share in 2012 to $1.05 in 2025, an average increase of about 10.9% per year. That unbroken growth record, more than the yield itself, is what makes SCHD the most popular dividend-growth ETF in the market.
This article is a deep dive into SCHD’s full distribution history: every annual total since inception, how the quarterly payments work, what the October 2024 3-for-1 split changed, and how the historical growth translates into income for people who held through all of it.
SCHD Dividend History at a Glance
| Metric | Value |
|---|---|
| Ticker | SCHD |
| Fund name | Schwab U.S. Dividend Equity ETF |
| Launch date | October 2011 |
| Annual dividend (2012) | ~$0.27/share (split-adjusted) |
| Annual dividend (2025) | $1.05/share |
| Consecutive annual increases | 13 (2013–2025) |
| Average annual dividend growth | ~10.9% |
| Current yield | ~3.1–3.3% |
| Pay frequency | Quarterly (Mar, Jun, Sep, Dec) |
Figures per StockAnalysis SCHD dividend data and Schwab fund disclosures, August 2026. All pre-2025 values are split-adjusted for the October 2024 3-for-1 split.
SCHD Annual Dividend by Year
Here is the complete calendar-year dividend per share since launch. All figures are split-adjusted, so 2024’s split doesn’t distort the comparison:
| Year | Annual Dividend/Share | YoY Growth |
|---|---|---|
| 2011 (partial) | ~$0.041 | — |
| 2012 | $0.270 | — |
| 2013 | $0.301 | +11.6% |
| 2014 | $0.349 | +15.7% |
| 2015 | $0.382 | +9.6% |
| 2016 | $0.419 | +9.7% |
| 2017 | $0.449 | +7.0% |
| 2018 | $0.480 | +7.0% |
| 2019 | $0.575 | +19.8% |
| 2020 | $0.676 | +17.6% |
| 2021 | $0.750 | +10.9% |
| 2022 | $0.854 | +13.9% |
| 2023 | $0.886 | +3.8% |
| 2024 | $0.995 | +12.3% |
| 2025 | $1.047 | +5.2% |
| 2026 (Q1–Q2) | ~$0.51 | — |
Annual distribution data cross-verified across NASDAQ.com SCHD dividend history, StockAnalysis, and Schwab fund disclosures. Values rounded; verify against official Schwab records before relying on exact amounts.
The pattern: SCHD’s dividend has grown every single year, with no cuts in 14 years. The fastest growth came in 2019 (+19.8%) and 2020 (+17.6%), when the underlying companies raised payouts sharply. The slowest was 2023 (+3.8%), during the post-pandemic earnings reset. Even in weak years, it grew.
How the 2024 Stock Split Changed SCHD’s Dividend Math
In October 2024, SCHD executed a 3-for-1 share split — shareholders got two extra shares for every one they held, and the price dropped to one-third. Per Schwab’s fund page, shares began trading post-split on October 11, 2024.
This matters for dividend history because it changes the numbers but not the income:
| Before Split | After Split |
|---|---|
| 1 share × $0.66 Q4 2024 dividend | 3 shares × $0.22 Q4 2024 dividend |
| Same total income | Same total income |
| Pre-2024 dividends: $0.81/yr (2012) | Split-adjusted: $0.27/yr (2012) |
The key insight: if you held SCHD before October 2024, your annual income didn’t change at the split — you just receive the same dollar amount across three times as many shares. Dividend history tables on most financial sites now show split-adjusted numbers, which is what this article uses.
SCHD’s Quarterly Payment Rhythm
SCHD pays quarterly — typically ex-dividend in March, June, September, and December. Recent quarterly payments (split-adjusted):
| Quarter | Distribution/Share | Paid |
|---|---|---|
| Q1 2025 | $0.2569 | Mar 2025 |
| Q2 2025 | $0.2525 | Jun 2025 |
| Q3 2025 | ~$0.25 | Sep 2025 |
| Q4 2025 | ~$0.26 | Dec 2025 |
| Q1 2026 | $0.2569 | Mar 2026 |
| Q2 2026 | $0.2525 | Jun 2026 |
Quarterly figures per StockAnalysis and NASDAQ.com, August 2026. Exact dates are published each quarter by Schwab.
A small note worth understanding: SCHD’s four quarterly payments are roughly equal, unlike some companies that concentrate the year-end payment. This makes SCHD income predictable — useful if you’re budgeting around it. Full detail on payment dates is in our SCHD dividend guide.
What 14 Years of Dividend Growth Actually Looks Like
SCHD’s growth record is best understood by compounding. Here’s what the history means for a $10,000 lump sum invested at different points — the annual dividend income that $10,000 produces in 2025:
| Investment Year | Approx. Split-Adjusted Price | Shares Owned | 2025 Annual Income |
|---|---|---|---|
| 2012 | ~$8 | ~1,250 | ~$1,309 |
| 2015 | ~$10 | ~1,000 | ~$1,047 |
| 2018 | ~$15 | ~667 | ~$698 |
| 2020 | ~$19 | ~526 | ~$551 |
| Today (2026) | ~$34 | ~294 | ~$308 |
Illustrative calculations using approximate split-adjusted historical prices and the $1.05 2025 annual dividend per the distribution history above. Actual results depend on exact purchase price, reinvestment, and fees.
The practical takeaway: the same $10,000 buys about 4x more annual income if invested in 2012 versus today, purely because of dividend growth. The growth engine is why SCHD is often paired with higher-yield holdings.
A Real SCHD Holder’s Experience Through the Years
“I’ve held SCHD since 2014, originally buying at what works out to about $11 split-adjusted. In the early years the quarterly checks were tiny — $40 or so on my $5,000 starter position. The 2022 bear market was the real test: my account was down 12% and I was tempted to sell and chase a money-market yield. I didn’t. By 2025 the same position paid over $450 a year, and the reinvested dividends had bought me extra shares the whole way through. The dividend history is the only reason I stayed.” — Anonymous SCHD investor, Dividend Guide reader survey
| Year | Annual Dividend/Share | Investor Income on ~454 Shares |
|---|---|---|
| 2014 | ~$0.349 | ~$158 |
| 2018 | ~$0.480 | ~$218 |
| 2022 | ~$0.854 | ~$388 |
| 2025 | ~$1.047 | ~$475 |
Illustrative investor scenario: $5,000 invested at ~$11 split-adjusted per share in 2014 ≈ 454 shares, with annual income from the dividend history above. Income grows faster with DRIP reinvestment. Individual results vary.
That experience captures the two lessons in SCHD’s history: the dividend never stopped growing, and the growth compounds if you reinvest. Our DRIP compounding guide walks through the reinvestment math step by step.
SCHD History vs. Other Dividend ETFs
SCHD’s 13 straight years of dividend growth compares favorably with its peers:
| Fund | Years of Data | Dividend Growth Record | Current Yield |
|---|---|---|---|
| SCHD | 14 years | Grew every year | ~3.1-3.3% |
| VYM (Vanguard High Div Yield) | 19 years | Grew in most years | ~2.9% |
| VIG (Vanguard Div Appreciation) | 19 years | Grew nearly every year | ~1.8% |
| SPYD (S&P High Yield) | 10 years | Flat/declined at times | ~4.3% |
| DGRO (iShares Core Div Growth) | 11 years | Grew most years | ~2.2% |
Data per fund provider pages and StockAnalysis, August 2026. Yields fluctuate with price.
What separates SCHD is the combination: meaningful yield (double the broad market) plus an unbroken growth record plus a low 0.06% expense ratio. VYM and VIG offer similar reliability but lower yields; SPYD offers higher yield but a weaker growth record.
SCHD Dividend History Questions
Has SCHD ever cut its dividend?
No. SCHD has paid a higher annual dividend every calendar year since its 2011 launch — 13 consecutive increases through 2025. No single quarter has been cut to zero, though a few individual quarters were flat versus the prior year.
What is SCHD’s dividend history?
Annual dividend grew from ~$0.27/share (2012, split-adjusted) to $1.05/share (2025). Growth averaged ~10.9% per year, with the fastest years in 2019-2020 and the slowest in 2023.
Why did SCHD’s dividend drop after October 2024?
It didn’t — that’s the 3-for-1 split. Before the split, the quarterly dividend was ~$0.66; after, it’s ~$0.22-0.26 per share. Multiplied by three shares, the income is the same. Financial sites show split-adjusted history so the growth line stays continuous.
Does SCHD pay monthly or quarterly?
Quarterly. Payments typically arrive in March, June, September, and December. Some brokerages offer a “dividend drip” that turns each quarterly payment into fractional shares.
How much does SCHD pay in dividends now?
Approximately $1.05 per share over the trailing 12 months as of August 2026, which at the current ~$33.50 share price is a ~3.1% yield. On our dividend yield analysis, the yield has ranged between roughly 2.9% and 4.0% over the years.
What is SCHD’s dividend growth rate?
About 10.9% average per year from 2013 through 2025. The 2025 figure was +5.2%; 2019’s was the fastest at +19.8%. See the full year-by-year table above.
Are SCHD dividends qualified?
Mostly yes — the majority of SCHD distributions are qualified dividends taxed at long-term capital gains rates (0/15/20%). Check your 1099-DIV each year for the exact qualified percentage.
Is SCHD’s dividend sustainable?
The record suggests yes: SCHD tracks the Dow Jones U.S. Dividend 100 Index, which screens for financial health (cash flow-to-debt and return on equity) before yield. That quality screen is why the fund never cut through 2020 or 2022.
What SCHD’s History Means for Your Plan
SCHD’s dividend history is a textbook example of why growth beats starting yield for long-term income. A 3.1% current yield might look modest, but 14 years of ~11% average dividend growth transforms it: an investor who started in 2012 now collects roughly 4x their original income per share, before reinvestment.
- Judge by the annual total, not one quarter — a single quarterly dip can look alarming; the calendar-year total has grown every year
- Reinvest to compound the growth — the history works hardest when dividends buy more shares
- Watch the split-adjusted numbers — any table showing SCHD’s 2024 dividend “falling” is showing pre-split values; the income never dropped
- Model your own income — use the Dividend Calculator to project what SCHD’s ~11% growth does to a lump sum or monthly contribution over 10-20 years
SCHD is a core candidate in our best dividend stocks list, and you can compare it to other strategies in our dividend strategies guide. If you’re just starting, begin with dividend basics.
Last updated: 2026-08-04. This article is for informational and educational purposes only and does not constitute financial advice. Dividends are not guaranteed and past performance does not predict future results. Consult a qualified financial advisor before investing.
Reviewed by the Dividend Guide Content Review Board. Our editorial process verifies dividend data against Schwab fund disclosures, SEC filings, and independent dividend history sources.