REINSURANCE GROUP OF AMERICA INC (RGA) — is the dividend affordable?
Fiscal year ending 2025-12-31 · sector Financials · payout ratios computed from SEC filings, not taken from a data vendor.
| Basis | Payout | Why it differs |
|---|---|---|
| GAAP earnings | 20.6% | The figure most screeners publish. |
Only one basis is shown, and that is the point. Operating and free cash flow swing with loan, deposit and reserve movements, so for a lender or insurer neither says anything about whether the dividend is affordable. Investment income is omitted for a second reason: insurers file it under the same tag a BDC uses, but it means investment income on float rather than the money that funds the distribution. Screeners that publish these for a bank are printing arithmetic, not information — and a wide gap between them is noise, not a finding.
Coverage rating 77 / 100 — Adequate. ? Peer standing 40/50Direction 30/30Stability 7/20
GAAP earnings payout, last 6 years
| Fiscal year | Payout |
|---|---|
| 2025-12-31 | 20.6% |
| 2024-12-31 | 32.4% |
| 2023-12-31 | 24.6% |
| 2022-12-31 | 40.1% |
| 2021-12-31 | 16.7% |
| 2020-12-31 | 45.3% |
Among the 48 financials companies here, 79% pay out a larger share on this basis — this is comfortable for the sector.
The arithmetic
- GAAP earnings — dividends declared per share $3.64 ÷ diluted EPS $17.69
Where the figures came from
- 10-K filed 2026-02-20 · accession
0000898174-26-000006
Every one is public at sec.gov and free to check. That is the point — you should not have to take my word for any of it.
Computed by an open pipeline reading SEC XBRL directly. If any number here looks wrong to you, tell me — that is more useful to me than agreement.