Why Campbell's cut its dividend 36% after earning $405m
Campbell's paid $470m of dividends on $405m of net earnings in fiscal 2026 while total debt rose to $7.1bn. The cut saves about $167m a year.
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CPB
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Last checked Sep 3, 2026All companies
Figures we worked out for CPB
Not a data feed. Each of these was calculated inside one of the articles above, from the filings listed at the bottom of this page. The arithmetic is shown so you can redo it — and it is re-run every time this site is built.
| Figure | Value | Arithmetic |
|---|---|---|
| Why Campbell's cut its dividend 36% after earning $405m | ||
| Quarterly dividend cut per share | −35.9% | 1.00 / 1.56 - 1 |
| Dividends paid against net earnings, fiscal 2026 | 1.16× | 470 / 405 |
| Dividends paid, year on year | +2.4% | 470 / 459 - 1 |
| Payout ratio on reported EPS | 1.19× | 1.56 / 1.31 |
| Payout ratio on adjusted EPS | 0.72× | 1.56 / 2.17 |
| Annual saving from the cut, $m | $167m | (1.56 - 1.00) * 298 |
| Saving against net interest expense | +51.7% | (1.56 - 1.00) * 298 / 323 |
| Saving against total borrowings | +2.3% | (1.56 - 1.00) * 298 / (977 + 6160) |
| Total borrowings, year on year | +4.1% | (977 + 6160) / (762 + 6095) - 1 |
| Net debt at 2 August 2026, $m | $6,743m | 977 + 6160 - 394 |
| Free cash flow, fiscal 2026, $m | $678m | 1039 - 361 |
| Shareholder returns against free cash flow | +73.2% | 496 / (1039 - 361) |
| Net sales, fiscal 2026 | −5.0% | 9744 / 10253 - 1 |
| Gross profit, fiscal 2026 | −12.1% | (9744 - 7002) / (10253 - 7134) - 1 |
| EBIT, fiscal 2026 | −24.2% | 852 / 1124 - 1 |
| Net earnings, fiscal 2026 | −32.7% | 405 / 602 - 1 |
| Diluted EPS, fiscal 2026 | −34.8% | 1.31 / 2.01 - 1 |
| Fourth quarter net sales | −7.9% | 2137 / 2321 - 1 |
| Fourth quarter gross profit | −17.3% | (2137 - 1554) / (2321 - 1616) - 1 |
| Fourth quarter EBIT | −98.5% | 4 / 269 - 1 |
| Snacks net sales, fiscal 2026 | −6.3% | 3816 / 4074 - 1 |
| Snacks operating earnings, fiscal 2026 | −28.3% | 386 / 538 - 1 |
| Meals & Beverages net sales, fiscal 2026 | −4.1% | 5928 / 6179 - 1 |
| Meals & Beverages operating earnings, fiscal 2026 | −14.1% | 943 / 1098 - 1 |
| Fiscal 2027 adjusted EPS guidance against fiscal 2026, at the midpoint | −20.5% | ((1.65 + 1.80) / 2) / 2.17 - 1 |
| New dividend against guided adjusted EPS, at the midpoint | 0.58× | 1.00 / ((1.65 + 1.80) / 2) |
| Opening gap on 3 September 2026 | −6.1% | 22.32 / 23.78 - 1 |
| Closing change on 3 September 2026 | −7.0% | 22.125 / 23.78 - 1 |
| Volume against the prior 23-session average | 6.93× | 37457687 / 5405463 |
29 figures from 1 article. Totals and industry averages that belong to no single company are not listed here.
Primary sources used
- The Campbell's Company — Form 8-K filed 3 September 2026, Exhibit 99.1Fourth quarter and full year fiscal 2026 results, the dividend reset, the $500m cost savings programme and full-year fiscal 2027 guidance. Consolidated statements of earnings, balance sheets and cash flows are attached to the release. The exhibit is furnished, not filed
- Daily prices, CPB, 3 August – 3 September 2026 (market data, not a filing)Databento US Equities Summary, OHLCV-1d schema, retrieved with scripts/quote.mjs. Data Provided by Databento. Prices are delayed; the latest session used here is 3 September 2026
2documents, deduplicated. Links go to the original filing, not to a summary.