Vector (NZSE:VCT) Dividend Payout Ratio: 1.15 (As of Dec. 2025) — 19% Below Median

Vector NZSE:VCT -0.99% 74 Dividend Payout Ratio is 1.15 as of Dec. 2025, which is 19% below its 10-year median of 1.42. GuruFocus rates NZSE:VCT with a GF Score™ of 74/100 and a GF Value™ of NZ$4.16 (Modestly Overvalued). The stock has 9 warning signs investors should review. Among 373 Utilities - Regulated companies, Vector ranks worse than 94.64% on this metric.

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period. Vector's Dividend Payout Ratio for the months ended in Dec. 2025 was 1.15.

Warning Sign:

If a company's dividend payout ratio is too high, its dividend may not be sustainable. The dividend payout ratio of Vector Ltd is 1.68, which seems too high.

The historical rank and industry rank for Vector's Dividend Payout Ratio or its related term are showing as below:

NZSE:VCT' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.86 Med: 1.42 Max: 1.68
Current: 1.68

During the past 13 years, the highest Dividend Payout Ratio of Vector was 1.68. The lowest was 0.86. And the median was 1.42.

NZSE:VCT's Dividend Payout Ratio is ranked worse than
94.64% of 373 companies
in the Utilities - Regulated industry
Industry Median: 0.54 vs NZSE:VCT: 1.68

As of today (2026-07-02), the Dividend Yield % of Vector is 5.05%.

During the past 13 years, the highest Trailing Annual Dividend Yield of Vector was 5.80%. The lowest was 3.54%. And the median was 4.53%.

Vector's Dividends per Share for the months ended in Dec. 2025 was NZ$0.13.

During the past 12 months, Vector's average Dividends Per Share Growth Rate was 12.10% per year. During the past 3 years, the average Dividends Per Share Growth Rate was 14.20% per year. During the past 5 years, the average Dividends Per Share Growth Rate was 6.80% per year. During the past 10 years, the average Dividends Per Share Growth Rate was 2.90% per year.

During the past 13 years, the highest 3-Year average Dividends Per Share Growth Rate of Vector was 14.20% per year. The lowest was 0.40% per year. And the median was 2.05% per year.

The growth rate is calculated with least square regression.

For more information regarding to dividend, please check our Dividend Page.

* Please note that "special dividend" is not included in the calculation of dividend per share and related fields.

Vector (NZSE:VCT) Dividend Payout Ratio Explanation

In dividends investing, Dividend Payout Ratio and Dividend Growth Rate are the two most important variables for consideration. A lower payout ratio may indicate that the company has more room to increase its dividends.

Vector Dividend Payout Ratio Related Terms

Vector Dividend Payout Ratio Historical Data

* Premium members only.

The historical data trend for Vector's Dividend Payout Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Vector Dividend Payout Ratio Chart

Vector Annual Data

Trend

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Jun24

Jun25

Dividend Payout Ratio

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0.86

0.90

1.51

1.47

1.41

Vector Semi-Annual Data
	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24	Jun25	Dec25
Dividend Payout Ratio	Get a 7-Day Free Trial															1.35	1.60	1.11	3.33	1.15

NZSE:VCT vs SRE, AES: Dividend Payout Ratio Comparison

For the Utilities - Diversified subindustry, Vector's Dividend Payout Ratio, along with its competitors' market caps and Dividend Payout Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Vector Dividend Payout Ratio vs Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, Vector's Dividend Payout Ratio distribution charts can be found below:

* The bar in red indicates where Vector's Dividend Payout Ratio falls into.

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74GF Score

Vector Ltd NZSE:VCT

Dividend Payout Ratio is just one metric. See GF Score™, valuation, warning signs, and more.

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Vector Dividend Payout Ratio Calculation

Vector's Dividend Payout Ratio for the fiscal year that ended in Jun. 2025 is calculated as

Dividend Payout Ratio	=	Dividends per Share (A: Jun. 2025 )	/	EPS without NRI (A: Jun. 2025 )
	=	0.25	/	0.177
	=	1.41

Vector's Dividend Payout Ratio for the quarter that ended in Dec. 2025 is calculated as

Dividend Payout Ratio	=	Dividends per Share (Q: Dec. 2025 )	/	EPS without NRI (Q: Dec. 2025 )
	=	0.13	/	0.113
	=	1.15

Frequently Asked Questions Learn more about Dividend Payout Ratio →

What does a Dividend Payout Ratio of 1.15 mean?

Vector (NZSE:VCT) has a Dividend Payout Ratio of 1.15 as of Dec. 2025. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Vector and its competitors. This is 19% below median its historical median of 1.42. Over the past decade, Vector's Dividend Payout Ratio has ranged from 0.86 to 1.68. According to the industry distribution chart, Vector ranks #353 out of 373 companies in the Utilities - Regulated industry, placing it in the top 94.6%.

Is Vector's Dividend Payout Ratio too high?

Vector's current Dividend Payout Ratio of 1.15 is 19% below median its 10-year median of 1.42. Over the past 10 years, this metric has ranged from a low of 0.86 to a high of 1.68. The Utilities - Regulated industry median Dividend Payout Ratio is 0.54. Vector's value of 1.15 is 113% above this industry median. Based on the distribution chart, Vector ranks #353 out of 373 companies in the Utilities - Regulated industry, which is in the bottom quartile relative to peers. Overall, Vector has a GF Score™ of 74/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Vector's Dividend Payout Ratio compare to SRE and AES?

According to the Utilities - Regulated industry distribution chart, Vector ranks #353 out of 373 companies for Dividend Payout Ratio. This places Vector in the lower half of its industry. The industry median Dividend Payout Ratio is 0.54. Vector's value of 1.15 is 113% above this benchmark. Historically, Vector's own Dividend Payout Ratio has ranged from 0.86 to 1.68 over the past decade. While the company's 10-year median is 1.42 vs. the industry median of 0.54, Vector has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Dividend Payout Ratio for an Utilities - Regulated company?

The median Dividend Payout Ratio among Utilities - Regulated companies is 0.54, based on 373 companies in the industry. Companies in the top quartile (top 25%) have a Dividend Payout Ratio significantly above this median, while those in the bottom quartile fall well below. However, Dividend Payout Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Vector's current Dividend Payout Ratio of 1.15 is 113% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high Dividend Payout Ratio mean?

A high Dividend Payout Ratio can signal that a stock is expensive relative to its fundamentals. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Vector and its competitors. For the Utilities - Regulated industry, the median Dividend Payout Ratio is 0.54 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Vector's current Dividend Payout Ratio is 1.15, which is 19% below median its own 10-year median of 1.42. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Vector stock overvalued right now?

Based on GuruFocus' analysis, Vector (NZSE:VCT) is currently considered Modestly Overvalued. The stock's GF Value™ is NZ$4.16, compared to a current price of NZ$5.00 — trading 20.2% above its estimated fair value. The current Dividend Payout Ratio is 1.15, which is 19% below median its 10-year median of 1.42 and 113% above the Utilities - Regulated industry median of 0.54. Vector's overall GF Score™ is 74/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Dividend Payout Ratio calculated?

Dividend Payout Ratio is calculated from a company's financial statements. For Vector (NZSE:VCT), the current Dividend Payout Ratio is 1.15 as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Vector (NZSE:VCT) Overvalued in 2026?

Based on GuruFocus' analysis, Vector stock appears to be overvalued. The current stock price of NZ$5.00 is trading 20.2% above its estimated GF Value™ of NZ$4.16. GuruFocus considers Vector to be Modestly Overvalued.

Key valuation signals for NZSE:VCT:

Dividend Payout Ratio: 1.15 (19% below median its 10-year median of 1.42)
GF Value™: NZ$4.16 vs. price of NZ$5.00 (20.2% above fair value)
GF Score™: 74/100 with 9 warning signs
Industry Position: 113% above the Utilities - Regulated median (#353 of 373)

No single metric tells the full story. See the NZSE:VCT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Vector Business Description

Industry Utilities Utilities - Regulated

Comparable Companies XMAD:IBE MIL:ENEL XPAR:ENGI ADX:TAQA SRE XTER:EOAN XTER:RWE SAU:2082 LSE:SSE DFM:DEWA XTER:EBK XLIS:EDP TSX:BIP.UN TSE:9502 ASX:ORG AES TSX:CU BSP:ENEV3 SGX:U96 XKLS:6742

Other Exchanges VQA:Germany

Address 101 Carlton Gore Road, Newmarket, Auckland, NTL, NZL, 1023

Website https://www.vector.co.nz

Vector Ltd is a New Zealand infrastructure company. The company's operating segment includes Electricity Distribution; and Gas Distribution. It generates maximum revenue from the Electricity Distribution segment. The Auckland electricity distribution services segment includes Auckland electricity distribution services. Gas Trading includes Auckland Gas distribution services.

74GF Score

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Dividend Payout Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

NZ$5.00

Price

NZ$4.16

GF Value

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