The 5 biggest special dividend payments
More than 60 companies declared at least one special dividend in 2024
In this post we take a closer look at five companies that paid out significant special dividends in 2024. These dividends contribute to a much higher yield compared to the regular dividend, which is often considerably lower.
Additionally, one company in this video does not pay a regular dividend at all but instead distributes a very large special dividend annually. Discover our five hidden high-yield opportunities!
What is a Special Dividend?
A special dividend is a one-time distribution of profits to shareholders, separate from a company’s regular dividend payments. Companies usually issue special dividends when they have excess cash reserves, often due to strong financial performance, asset sales, or restructuring. Unlike regular dividends, special dividends are not recurring and are typically much larger. As of December 16, 2024, we have already registered 64 companies that paid a special dividend. Many of these companies even paid multiple special dividends!
Now let’s look at the five companies that issued the biggest special dividends in 2025:
1. TransDigm Group (TDG)
TransDigm is a leading supplier of aircraft components for both commercial and military markets. The company specializes in highly engineered aerospace parts, including systems for cabin comfort and safety. TransDigm has a history of generating strong cash flows, which allows it to issue special dividends to reward shareholders.
Transdigm issued an impressive special dividend of $75.00 per share, which contributed to a total yield of 5.9%. The company does not pay a regular quarterly dividend but pays a big fat special dividend every year. This makes the dividend a ‘secret’ payment. Don’t tell anybody!
2. Coca-Cola Consolidated (COKE)
Coca-Cola Consolidated, not to be confused with Dividend Aristocrat Coca-Cola (KO), is the largest independent bottler of Coca-Cola products in the United States.
The company focuses on manufacturing, distributing, and marketing Coca-Cola beverages, including sodas, water, and energy drinks. Its operational efficiency and profitability have enabled significant special dividend payouts. The Coca-Cola bottler paid a special dividend of $16.00 in 2024, leading to a total yield of 2.1%. The regular dividend yield for Coca-Cola Consolidated is 0.8% and was hiked by a whopping 400% this year!
3. Dillard’s (DDS)
Dillard’s is a U.S.-based upscale department store chain offering clothing, cosmetics, and home goods. Known for its strong balance sheet and cost management, Dillard’s has frequently rewarded shareholders with special dividends, especially when its profitability exceeds expectations.
In 2024 Dillard’s, one of the Dividend Heroes, paid a $25.00 per share special dividend with a yield of 5.9% at the current stock price. Dillard’s also pays a small regular dividend, but special dividends make up for the biggest part of the total yield every year.
4. Texas Pacific Land Corporation (TPL)
Texas Pacific Land is one of the largest landowners in Texas, primarily operating in land and resource management. The company benefits significantly from royalties on oil and gas production across its properties, enabling it to distribute substantial special dividends to shareholders. TPL is another Dividend Hero that was highlighted by us recently.
The company pays a $10.00 per share special dividend in 2024 with a yield of 0.8%. That more than doubles the regular quarterly dividend payment and results in a much higher total yield of 1.3%. That’s small, we know that, but hey, we are bringing you the biggest special dividends of the year.
5. American Financial Group
American Financial Group is a U.S.-based insurance holding company specializing in property and casualty insurance. Known for its disciplined approach to capital management, the company regularly returns excess capital to shareholders through both regular and special dividends.
AFG is a standout in terms of special dividends; This year 2 specials have been announced for a total amount of $6.50 per share with a total yield of 4.6%. That is double the regular yield of 2.3%. American Financials announces special dividends every year and is also one of the Dividend Heroes.
These five companies issued noteworthy special dividends in 2025, providing shareholders with significant returns beyond their regular payouts. Special dividends reflect strong financial performance and can offer unique opportunities for investors seeking enhanced income.
In our next post we will take a closer look at all 60+ companies that have announced one or several special dividends so far in 2024, including the five biggest special dividend payers mentioned above.
Disclaimer: The information provided here is for informational purposes only and should not be considered financial advice. Investors should conduct their own research or consult with a financial advisor before making any investment decisions.