Will Intel Bring Back Its Dividend Now That Its Stock Has Tripled?

Despite Intel's stock tripling in 2026, the company is unlikely to restore its dividend anytime soon. Intel suspended its dividend in late 2024, conditioning its return on achieving sustainably higher free cash flow. However, the company's adjusted free cash flow remained negative in both quarters of 2026, with capital spending expected to exceed $20 billion this year and rise further in 2027. A recent $23 billion stock offering and growing debt suggest Intel is prioritizing investment in manufacturing capacity over shareholder returns.