Dickson's deal includes $14.5 million in new money that could reach as much as $16 million, a source told ESPN's Adam Schefter. It will pay him $10.6 million over the first two seasons and includes a $6.5 million signing bonus.
The Seahawks on Friday tweeted a picture of Dickson officially signing the contract, which was completed after about a month of negotiating.
The 25-year-old Dickson was set to make nearly $3.4 million this season in the final year of the rookie deal that he signed in 2018, after Seattle traded up in the fifth round to draft him. He received a CBA-mandated raise to that amount by virtue of making the Pro Bowl in 2018, when he also was named a first-team All-Pro.
Over his three seasons, Dickson ranks fifth in the NFL in yards per punt (47.55) and seventh in net yards per punt (42.49), according to ESPN data. During that span, he leads the league in punts taken inside the 10 (41) and inside the 5 (15).
Dickson set franchise records last season in punting average (49.64) and net average (44.41).
He grew up in Australia and began kicking an American football in 2015. He attended the University of Texas after enrolling at Prokick Australia, a developmental program that helps young Aussies earn punting scholarships to American colleges.
Excluding free agents, Dickson joins wide receiver Tyler Lockett as the Seahawks players to sign an extension this offseason; both those deals were negotiated by agent Andrew Kessler. They also now have all three of their specialists signed to long-term deals; kicker Jason Myers and long-snapper Tyler Ott are both signed through the 2022 season.
Pro Bowl safety Jamal Adams is in line for an extension of his own as he enters the final year of his rookie deal.