Does Intel pay dividends? How the chipmaker spends its money

Intel stock has had a wild run in 2026, up well over 200% during the first half of the year and trading near all-time highs. As the only U.S. company that both designs and manufactures leading-edge logic chips, Intel is well-positioned to continue reaping the benefits of the AI boom, and its prospects are further bolstered by a partnership with the U.S. Department of Defense and funding from the CHIPS Act. 

Many of Intel’s competitors, like Micron and Taiwan Semiconductor Manufacturing Company, reward investors by distributing some of their cash to shareholders as quarterly dividend payments (on top of the stock gains minted by increased chip demand). 

Here’s what you need to know about Intel’s dividend history, future prospects, and spending.

Does Intel pay a dividend? 

Intel does not currently pay a dividend, although it used to. The company paused its dividend beginning with the fourth quarter of 2024, after a prolonged period of decline. As of mid-summer that year, the stock had fallen by around 55% over the previous five years. The company reduced its workforce by 15% around the same time. 

During an earnings call, former Intel CEO Pat Gelsingershared the news with investors and analysts, saying that the company was “taking the avid step of suspending the dividend at the beginning of the fourth quarter, recognizing the importance of prioritizing liquidity to support the investments needed to execute our strategy.”

Nevertheless, he assured shareholders that this would only be a temporary move, giving the company more wiggle room to shore up its financial footing: “We reiterate our long-term commitment to a competitive dividend as cash flows improve to sustainably higher levels.”

Intel’s free cash flow has been negative for the last 16 quarters, although it has improved significantly in recent years. 

When did Intel last pay a dividend?  

Intel’s last dividend — $0.125 per share — was paid on September 1, 2024, to shareholders of record as of August 7. The company’s dividend used to be higher, at $0.365 per share, but it was reduced to the $0.125 level in May of 2023. 

Intel’s recent dividend history

Source: Intel

Will Intel pay dividends again? When? 

Despite former CEO Pat Gelsinger’s 2024 assurance about the company’s “long-term commitment to a competitive dividend,” Intel shareholders may be left waiting for quite some time before this happens (although they’ve been handsomely rewarded in the form of massive gains in the company’s stock price).

Despite the company’s success and ongoing turnaround under current CEO Lip-Bu Tan, Intel still has plenty to do with its cash before it considers handing it out to shareholders. Under Tan, the company is prioritizing engineering, which means spending plenty of cash on research and development.
Beyond the company’s growth-focused spending, it has another reason to hold off on dividends — shoring up its balance sheet. The company currently owes more than $43 billion in long-term debt, and reducing that balance before reinstating dividends would be financially prudent. 

Back in summer 2025 (before the company’s stock began its massive upward run), the Motley Fool’s Timothy Green wrote that “it will likely be years before the company seriously considers restarting dividend payments to investors.” But while things may have changed for the better since then in terms of Intel’s stock price since then, the company’s capital expenditures remain high as it expands its foundry business, and it will take time for the company to reap the returns from these investments. 

Barchart’s Mohit Oberoi put it bluntly: “Intel Won’t Resume Dividends Anytime Soon.”

Which semiconductor stocks do pay dividends in 2026?