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Dividend Yield Calculator

Calculate dividend yield on NZX shares and managed funds. Includes gross yield, net yield after RWT, and reinvestment projection.

Data stays on your deviceIRD sourced data

Disclaimer

This calculator provides estimates for general information purposes only. Results should not be relied upon as professional financial, tax, or legal advice. Tax rates and thresholds are based on publicly available IRD data and may change. Always consult a qualified tax agent or financial adviser for advice specific to your circumstances.

Frequently Asked Questions

What is a good dividend yield in NZ?
NZX-listed dividend payers typically yield 3–6% gross. Companies above 7% may signal high risk (the price has dropped) or that the dividend is unsustainable. Below 2% suggests the company is growth-focused (reinvests profit instead of paying dividends). For comparison, the NZX 50 average gross yield in 2026 is around 4.2%. Quality dividend stocks include Spark NZ, Mercury Energy, Chorus, Auckland Airport, and Infratil. Source: NZX market data.
What are imputation credits?
Imputation credits represent company tax already paid on the profits used to fund a dividend. NZ companies pay 28% tax, so a $72 cash dividend may have a $28 imputation credit attached — making the gross dividend $100. As a shareholder, you include the gross dividend in your taxable income but get the $28 credit against your tax bill. For someone on the 33% marginal rate, the effective tax on the dividend is just 5%. Source: IRD — Imputation.
How is dividend tax different in PIE funds vs direct shares?
PIE funds are capped at the 28% PIR rate even if your marginal rate is 33% or 39%. Direct share dividends are taxed at your marginal rate (after applying imputation credits and 33% RWT). For a top-rate taxpayer, PIE funds save up to 11 percentage points. For a lower-rate taxpayer, PIEs may actually result in higher tax (if your PIR is set above your marginal rate) — always set your correct PIR. Source: IRD — PIE Funds.

Dividend yield is the annual dividend per share divided by the share price, expressed as a percentage. For NZX investors, the gross yield includes imputation credits (which reduce your tax bill), while the net yield is what hits your bank account after RWT (33%) is withheld.

How this calculator works

Enter the share price, annual dividend per share, and your PIR / RWT rate. The calculator shows gross yield, net yield after tax, and projected income on your investment over time.

Dividend Tax in NZ

RWT on cash dividends33% (default)
Fully imputed dividendImputation credits reduce tax
Effective tax (top-rate investor)~6% on fully imputed at 28% company tax
PIE fund alternativeCapped at PIR (max 28%)
Foreign dividendsOften subject to FIF rules

Worked Examples

Buy 1,000 Spark NZ shares at $4.50, dividend $0.275/share fully imputed

Gross yield: 6.11%; Net yield after RWT: ~4.68%

  1. Total investment: 1,000 × $4.50 = $4,500
  2. Annual dividend: 1,000 × $0.275 = $275 cash
  3. Imputation credit attached: $275 × 28/72 = $107
  4. Gross dividend (cash + credits): $382
  5. Gross yield: $275 / $4,500 = 6.11%
  6. Net after 33% RWT (assuming 33% marginal): ~4.68% effective

Built and maintained by Konstantin Iakovlev. Data sourced from the IRD and official New Zealand government sources.

Last updated:

Official Sources

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