- Pays: quarterly — $0.48 per share, unchanged since the first quarter of 2014.
- Paying since: 2009 — raised from $0.46 to $0.48 in early 2014 and held there every quarter since; the latest $0.48 was declared June 16, 2026.
- What it is: a commercial mortgage REIT — first-mortgage and mezzanine loans on commercial real estate, plus infrastructure lending, CMBS/conduit and owned-property segments. Credit risk, not agency-bond rate risk.
- Externally managed by Starwood Capital (management plus incentive fees).
- No splits: the only corporate event resembling one was the January 2014 spin-off of Starwood Waypoint (1 share per 5 STWD), treated as a non-cash dividend — some data feeds mislabel it as a split.
A dividend that hasn't moved in twelve years is both the reassurance and the caveat: STWD has never cut, and it has never grown. Commercial-real-estate credit — including office exposure — is the risk to watch; the flat $0.48 says management prioritizes coverage over growth.
STWD pays quarterly. Each point below is one dividend since 2009 — a short climb, then the flattest line on this site.
Loading the latest data…
Each point is one payment; the line ends at the most recent payout. The table below totals them by year.
- Trailing 12 months: $1.92 per share across 4 payments — up 0% from $1.92 in the 12 months before (split-adjusted, in today's share terms). What a change like that does to your income →
- Current pace: recent payments annualize to $1.92 — 0% above the trailing figure. When those two disagree, the trailing yield is quoting the past. Live cut & raise board →
- Share price, same 12 months: down 22% (dividends excluded) — income and principal are one story. Erosion Index →
- Record: 68 payments over 17 years; the largest single payment was $0.48 (Mar 2014), split-adjusted.
- Payment drops ≥20% below trend, last 24 months: none. Get one short email if that changes →
Every figure above is computed from STWD's actual payment record and share-price history as of the date shown — not copied from a fact sheet. Recomputed regularly; the chart above always shows the live data.
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| Recent Ex-Dividend Dates | Dividend / Share |
|---|
"Next expected" is estimated from STWD's recent payment rhythm — the fund announces exact dates shortly before each payout, and the data feed can lag a few days. You must own shares before the ex-dividend date to receive that payout; the cash typically arrives days later. See every fund's upcoming date on the live dividend calendar.
A real total-return estimate, assuming every payout was reinvested — including what happened to the share price. Before taxes and fees. Past performance does not predict the future.
Starwood Property Trust is the commercial counterpart to the agency mortgage REITs — it lends against office towers, apartments and hotels rather than owning government-backed bonds — and its dividend record is the sector's steadiest: $0.48 every quarter since 2014, through the pandemic, the 2022 rate shock and the office downturn. That's remarkable for a leveraged lender, and it's also a decade-plus of zero growth.
Compare it against the agency names (AGNC, NLY) and the commercial lender that did cut, ABR, on the compare tool — the difference in dividend stability is the difference in underwriting.
| Year | Total Dividends / Share | Payments | Change vs Prior Year |
|---|
Data source: Yahoo Finance. Figures are per share; the current year may be partial and figures should be verified against official sources.
Calculated from complete calendar years in the data above. Past results don't guarantee future payments.
When Is STWD's Next Ex-Dividend Date?
STWD pays quarterly. The exact date of each payout is announced by the fund only shortly beforehand, so no site can promise the next date — but the live schedule box above shows the most recent ex-dividend date and the expected window for the next one, computed from STWD's actual payment rhythm. Remember: you must own shares before the ex-dividend date to receive that payout.
Seventeen Years, One Raise, Zero Cuts
Starwood Property Trust has paid quarterly since its 2009 IPO, stepped up to $0.48 in early 2014, and hasn't changed the number since. The chart above is therefore almost a ruler — which, for a leveraged commercial lender, is an achievement rather than a disappointment.
Commercial Credit Is a Different Risk
Agency mortgage REITs live and die by interest-rate spreads; STWD lives by whether borrowers on office buildings, apartments and hotels pay back. That makes its dividend sensitive to real-estate cycles rather than Fed policy — the office downturn of 2023-25 was the real test, and the $0.48 held. External management by Starwood Capital adds fees but also the underwriting machine behind the record.
Where STWD Fits
As the stability anchor of the mortgage-REIT group — no growth, no cuts, a known number every quarter. For growth in real-estate income, the net-lease REITs (VICI, WPC) are the different species. Next expected date on the live calendar.
How to Choose Dividend Stocks
Yield traps, coverage, and the difference between paid-to-wait and paid-to-shrink — in plain English.
Read: How to Choose Dividend Stocks