U.S. vs non-U.S. dividend payout gap

Chart  •  September 17, 2025

In this chart

Dividends outside the United States have not only been higher — they’ve also proven more resilient through market cycles. Since the start of COVID, U.S. payout ratios have steadily declined, while non-U.S. dividend payout ratios have remained stable, giving investors seeking income another compelling reason to look beyond domestic equities. 

Dividend payout ratio average (%)

Source: MSCI, from July 31, 2019 – July 31, 2025

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