Do Amcor’s Dividends Make Up For A Lagging Stock

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Amcor (AMCR) makes packaging for foodservice, pet care and health care products. In August, its board declared a modestly higher quarterly dividend. For an income holder, that payout is the point of owning the stock. The share price, though, has trailed the S&P 500 by a wide margin over the past five years. So once every dividend is counted, what do you think a five-year holder ended up with next to the market?

How Far Has Amcor Stock Trailed The Market?

Amcor stock fell 23.1% on price alone over the past five years, while the S&P 500 rose 77.4%. That gap leaves Amcor 100.5 percentage points behind the market. Investors judging Amcor by its share price alone held a stock that lost money while the market made plenty.

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How Much Did Amcor's Dividends Add?

With dividends reinvested, Amcor stock returned -1.3% over the same five years. That left a holder slightly below where they started. The dividends added 21.8 percentage points to the return, covering almost all of the fall in the share price. For a five-year holder, Amcor's dividends were the only part of the return that made money, though they were not quite enough to break even.

Did The Dividends Close The Gap For Amcor Holders?

A fair comparison pits Amcor with dividends against the S&P 500 with dividends, because the market paid dividends too.

The S&P 500 returned 89.2% with dividends over the same five years, leaving Amcor holders 90.5 percentage points behind the market.

Amcor did pay out more than the market, and its dividends narrowed the gap by about 10 percentage points. Those payouts closed only a small part of the gap, however, because the market's own dividends added to its lead.

What This Means If You Own Amcor For Income

Over the past year, Amcor's dividends added 6.7 percentage points to its return, against about 1 point for the S&P 500. That is the trade an income holder made: much more cash along the way, in exchange for a share price that fell far behind the market over five years.

Amcor earns that cash selling packaging through two segments: Global Flexible Packaging Solutions and Global Rigid Packaging Solutions. In fiscal 2026, Amcor paid out about as much in dividends as it produced in free cash flow. Management said the Middle East conflict held back that cash flow, and it aims to recover more than $500 million in cash over the next 12 months. On its latest call, held August 12, 2026, management tied the dividend to a long-standing commitment to annual dividend growth. Management also expects to keep modestly growing the dividend while bringing its leverage, a measure of debt, down to about 3 times by the end of 2027.

For an income holder, the number to watch is Amcor's five-year return with dividends against the S&P 500's return with dividends. That comparison will be worth checking again when Amcor reports on or around November 3, 2026.

Your Advisor Retired? Get A Second Opinion Before You Settle

For Amcor holders, the dividend checks tell a different story from the price chart. When the advisor who built your plan moves on, it is a natural moment to ask whether the plan still fits the life you have now. Our partner advisory firm offers a free review of your holdings, fees and income plan.

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