Is Comcast's 6% Dividend Safe?
On the numbers Comcast's dividend looks well covered, and the main uncertainty is the planned separation, not the payout. The $0.33 quarterly dividend ($1.32 a year, a yield of 6.0%) cost $3.6 billion in the first nine months against $12.7 billion of free cash flow, about 28%, and it takes about 31% of third-quarter adjusted EPS of $1.07.
- Comcast has suspended buybacks, which removes the first call on cash.
- This site's dividend screener raises no flags: interest coverage is above the sector median and debt to equity is below it.
- The risks are falling free cash flow (down 14.5%) and the NBCUniversal and Sky separation expected by mid-2027, for which no dividend policy has been stated.
This is analysis, not a recommendation.
How well is the dividend covered?
| Measure | Figure | What it tells you |
|---|---|---|
| Quarterly dividend | $0.33 | $1.32 a year, about 5.8% at $22.69 |
| Dividends paid, nine months of 2026 | $3.6 billion | $1.2 billion a quarter |
| Free cash flow, nine months | $12.7 billion | Down from $14.9 billion a year earlier |
| Dividend as a share of free cash flow | About 28% (this site's screener: 28% trailing) | A comfortable cushion |
| Dividend as a share of Q3 adjusted EPS | About 31% | This site's trailing earnings payout is 43% |
| Dividend growth, five years | 7.9% a year | Per this site's screener |
Comcast's nine-month free cash flow against dividends and repurchases, from its Q3 2026 release and 10-Q. Buybacks stopped in the third quarter.
Free cash flow covers the dividend more than three times even after a 14.5% fall, which leaves a wide margin before the dividend would be at risk.
What does this site's dividend screener say?
| Check | Comcast | Sector reference | Flag |
|---|---|---|---|
| Dividend as a share of free cash flow | 28% | High is a warning | No |
| Dividend as a share of earnings | 43% | High is a warning | No |
| Debt to equity | 0.94 | Sector median 1.54 | No |
| Interest coverage | 6.1 times | Sector median 5.5 | No |
| Revenue trend | -0.3% | Declining revenue is a warning | No |
| Yield against sector | 6.0% | Sector average 5.1% | No |
None of the six checks raises a flag. How to find safe high-dividend stocks explains each one, and how to calculate the dividend payout ratio shows the maths.
What could threaten the dividend?
| Risk | What is known |
|---|---|
| Falling free cash flow | Down about 14.5% over nine months and 14.8% in Q3, as broadband customers and margins fall |
| Restructuring costs | A fourth-quarter charge above $1 billion, including layoffs, was reported by Reuters; part will be cash |
| The separation | NBCUniversal and Sky are to be separated by mid-2027, and the sources did not say how the dividend and debt will be split |
| Broadband losses | 144,000 lost in Q3 against 91,000 a year earlier, with fiber and fixed-wireless rivals cutting prices |
| Theme parks and licensing | Theme parks EBITDA fell 17.1% and content licensing revenue fell 23.7% in the quarter |
A dividend rarely gets cut when it takes under a third of free cash flow and buybacks are already paused. The bigger variable is structural: after the separation, the connectivity business that remains would be the one with a falling customer base, and how the company allocates its dividend then is not yet known.
How does CMCSA look on this site's checks?
From the weekly data of October 23, 2026, on the Comcast stock page:
| Measure | CMCSA | What it tells you |
|---|---|---|
| Price / market value | $22.69 / $80.5 billion | 30% below its 52-week high of $32.86 |
| Trailing / forward P/E | 7.1 / 6.3 | Price per dollar of earnings, last year and expected |
| Price to sales / price to book | 0.65 / 0.87 | This site's limits are 7 and 8 |
| Revenue growth / net margin | -0.3% / 9.2% | Trailing twelve months |
| Free-cash-flow yield | 21.2% | Free cash flow per share of $4.82 |
| Dividend yield | 5.98% | Payout 43% of earnings |
| Debt to equity / interest coverage | 0.94 / 6.1x | Total debt against equity, and earnings against interest |
| 1-year change / RSI | -17.6% / 54.4 | RSI below 30 is oversold |
| Value filters / margin of safety | 6 of 8 / +72.4% | A neutral DCF that fades growth from 8% to 2.5% |
What should you read next?
More on Comcast from the same data: Comcast vs Charter: which cable stock is cheaper? and why has Comcast stock fallen 30% from its high?.
Sources
- Comcast Q3 2026 earnings release (SEC, October 22, 2026): free cash flow, EPS, segments, buyback suspension
- Comcast Q3 2026 Form 10-Q (SEC): dividends, separation
- Comcast on this site: price, ratios and dividend screener, October 23, 2026
The annual figure of $1.32 is four times the $0.33 quarterly dividend and was not stated in the documents. The restructuring charge comes from press reports. This is educational content, not investment advice.
Comcast dividend FAQ
How much is Comcast's dividend?
$0.33 a quarter, $1.32 a year, a yield of about 6% at the October price.
Is Comcast's dividend safe?
On the numbers yes: it takes about 28% of free cash flow and 31% of adjusted EPS, and this site's screener raises no flags. The open question is the 2027 separation.
Will Comcast cut its dividend?
Nothing in the numbers points to it, but no dividend policy has been stated for after the separation of NBCUniversal and Sky.
Is Comcast still buying back shares?
No. The buyback programme was suspended from the third quarter and is expected to stay paused through the separation.
How does Comcast's yield compare with others?
About 6.0% against 5.4% for AT&T and 6.3% for Verizon, while Charter pays no dividend.