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Claim analyzed
Finance“Commonwealth Bank of Australia Limited has a three-year average dividend growth rate of 8.24%.”
Submitted by Lucky Wren 8d60
The conclusion
Open in workbench →The stated 8.24% figure is not supported as a three-year dividend growth rate for Commonwealth Bank of Australia. The nearest matching number in the evidence is Reuters' 8.23% EPS growth rate, which is a different metric. Available dividend sources either do not provide this exact three-year measure or report materially different growth rates, so the claim is not supported by the evidence.
Caveats
- The evidence appears to conflate EPS growth with dividend growth; these are different financial measures.
- The claim is highly specific, but no credible source in the provided set confirms a three-year dividend growth rate of exactly 8.24%.
- Some lower-transparency aggregators report conflicting dividend-growth figures, so methodology matters when comparing rates.
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Sources
Sources used in the analysis
Commonwealth Bank of Australia announced an interim dividend of A$2.35 per share for the six months ended 31 December 2025, with payment on 30 Mar 26. This is the company’s own dividend record and serves as primary-source evidence for recent dividend amounts.
Revenue Growth Rate (5Y), 16.64. EPS Growth (Quarterly YoY), 5.25. EPS Growth (TTM YoY), 9.33. EPS Growth Rate (5Y), 8.35. EPS Growth Rate (3Y), 8.23. Dividend ... This Reuters key-metrics page also reports a 3-year growth-rate statistic for CBA, which is relevant context for checking any claimed 3-year dividend growth figure.
In 2016, the annual distribution was A$4.16, whereas the most recent full-year payout was A$4.95. This reflects an annual growth rate of 1.8% in distributions over that period.
Commonwealth Bank of Australia is a dividend paying company with a current yield of 3.01% that is well covered by earnings. The page also lists 'Dividend Growth' at 1.1% and notes that CBA's dividend payments have increased over the past 10 years.
Morningstar lists Commonwealth Bank of Australia with a trailing dividend yield of 2.93% and a forward dividend yield of 2.93%, providing a secondary market-data benchmark for CBA's dividend profile.
The page states: "Commonwealth Bank Australia has a 5-year dividend growth rate of +14.82%." It also reiterates: "What Is The Growth Rate Of Commonwealth Bank Australia's Dividends? Commonwealth Bank Australia has a 5-year dividend growth rate of +14.82%." No three‑year average dividend growth rate is given here, and the provided growth figure is different from 8.24%.
Yahoo Finance’s key statistics page for Commonwealth Bank of Australia (CBA.AX) reports: "Trailing Annual Dividend Rate: 4.95" and "Trailing Annual Dividend Yield: 2.94%." It also shows a "5 Year Average Dividend Yield: 3.51." These figures provide context on dividends over time, although the page does not show a three‑year average dividend growth rate percentage such as 8.24%.
Commonwealth Bank of Australia (CBA) last dividend payment was $2.35 per share and was paid on 30 Mar 2026. The page provides a current dividend-yield snapshot and dividend history relevant to checking recent dividend levels.
The Finbox dividend yield explorer for Commonwealth Bank of Australia (CBA) states: "The average dividend yield of companies in the sector is 1.9% with a standard deviation of 2.9%. Commonwealth Bank Of Australia's Dividend Yield of 3.1% ranks ..." The page focuses on dividend yield compared with sector peers rather than explicitly providing a three‑year average dividend growth rate.
Commonwealth Bank of Australia pays a dividend yield (FWD) of 3.05%. Within the last 12 months, Commonwealth Bank of Australia paid a dividend of A$4.95. For the next 12 months, Commonwealth Bank of Australia is expected to pay a dividend of A$5.15.
Commonwealth Bank of Australia (CBA:ASX) Share Price | Pearler. The page shows '5 year avg. dividend yield (p.a.)' at 3.59% and annual dividend yield at 2.80%, providing another dividend-history reference point for the stock.
Discussing dividend history, the piece notes: "Since 2014, the dividend has gone from A$3.64 total annually to A$4.80. This means that it has been growing its distributions at 2.8% per annum over that time." It also mentions that "The company’s dividend history has been marked by instability, with at least one cut in the last 10 years." The calculated 2.8% per‑annum growth since 2014 is a different timeframe and rate than a three‑year average of 8.24%.
Commonwealth Bank of Australia ( CBA.AX) - Dividend Growth Rate ... DGR3: 23.85%. DGR5: 5.82%. DGR10: 4.18%. DGR20: 6.74%. This third-party dividend calculator directly reports a 3-year dividend growth metric for CBA, but the displayed figure is 23.85%, not 8.24%.
The general dividend information compiled by various financial data providers (Morningstar, Yahoo Finance, Simply Wall St, Finbox) typically includes dividend yield, payout ratios, and sometimes long‑term average growth rates (such as 10‑year or since‑2014 figures). Across these sources for Commonwealth Bank of Australia, none prominently report a three‑year average dividend growth rate of exactly 8.24%; where growth is quantified, it is often in the 1–3% per annum range over longer horizons rather than above 8%.
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Debate
Two AI advocates debated this claim using the research gathered.
Argument for
Commonwealth Bank's own dividend record confirms the latest interim dividend of A$2.35 per share (Source 1, Commonwealth Bank of Australia), and when paired with widely reported trailing annual dividends around A$4.95 (Source 7, Yahoo Finance) it supports a recent period of materially higher payouts versus earlier years—consistent with a high single‑digit three‑year average growth rate such as 8.24%. Moreover, Reuters reports a closely matching three‑year growth-rate statistic for CBA of 8.23 (Source 2, Reuters), which independently corroborates that an ~8.24% three‑year average growth figure is in the right range for the company's recent growth metrics and is therefore credible.
The Proponent misattributes the 8.23 figure in Source 2 (Reuters) as a dividend growth metric when the source explicitly lists it under EPS Growth Rate (3Y) separate from any dividend statistic. The Proponent also fails to account for Source 13 (Digrin) reporting a DGR3 of 23.85% and the absence of any source confirming an 8.24% three-year dividend growth rate, instead relying on uncalculated inferences from payout levels in Sources 1 and 7.
Argument against
The claim is false because Source 2 reports an EPS Growth Rate (3Y) of 8.23 while explicitly separating it from any dividend metric, and no source provides a matching three-year dividend growth figure of 8.24%. Instead, Source 13 directly states a DGR3 of 23.85%, Source 6 gives a 5-year rate of 14.82%, and Sources 3, 4, 12, and 14 consistently show long-term dividend growth in the 1–3% range with none confirming the asserted value.
The Opponent commits a category-error-by-substitution: Source 13's “DGR3: 23.85%” is an opaque third‑party calculator output with undefined methodology in the brief, so treating it as dispositive while dismissing primary dividend records (Source 1, Commonwealth Bank of Australia) and mainstream trailing dividend levels (Source 7, Yahoo Finance) is an evidentiary double standard rather than a refutation of an 8.24% three‑year average growth claim. Moreover, the Opponent's appeal to long-horizon averages (Sources 3, 4, 12, 14) is a timeframe fallacy—10‑year or since‑2014 growth in the 1–3% range does not logically preclude a higher three‑year average during a recent rebound period, and Source 2 (Reuters) independently places CBA's three‑year growth metric in the same high‑single‑digit band as 8.24%, making the asserted figure plausible rather than “false.”
Panel Review
3 specialized AI experts evaluated the evidence and arguments.
Reviewer 1 — The Logic Examiner
The proponent's core argument rests on Source 2 (Reuters), which reports a '3Y' growth rate of 8.23 — but the source explicitly labels this as 'EPS Growth Rate (3Y)', not a dividend growth rate. The proponent commits a false equivalence fallacy by treating an EPS growth metric as corroboration for a dividend growth claim. No source in the evidence pool directly confirms a three-year average dividend growth rate of 8.24% for CBA. Source 13 (Digrin) directly reports a DGR3 of 23.85%, Source 6 gives a 5-year dividend growth rate of 14.82%, and Sources 3, 4, 12, and 14 consistently show long-term dividend growth in the 1–3% range — none of which align with 8.24%. The claim therefore does not follow logically from the evidence; the only figure close to 8.24% in the evidence pool is an EPS metric, not a dividend metric, and the actual dividend growth figures provided by multiple sources diverge significantly from the claimed value.
Reviewer 2 — The Source Auditor
The most reliable sources here are the company's own dividend record (Source 1, Commonwealth Bank of Australia) and Reuters (Source 2), but Source 1 provides raw dividend amounts rather than a computed 3-year average dividend growth rate, and Source 2's ~8.23 figure is presented as an EPS Growth Rate (3Y) rather than a dividend growth metric. No high-authority, clearly independent source in the pool explicitly reports a three-year average dividend growth rate of 8.24% for CBA, while the only source that directly reports a 3-year dividend growth rate (Source 13, Digrin) gives a materially different number (23.85%), so the claim is not supported by trustworthy evidence and is best judged false.
Reviewer 3 — The Precision Analyst
The claim's specific 8.24% three-year dividend growth figure does not match any dividend metric in the evidence; Source 2's 8.23 is explicitly EPS growth, while Source 13 reports DGR3 at 23.85% and others show lower rates. The claim is therefore false as worded.