diff --git a/bindings/utils/state/megapool.go b/bindings/utils/state/megapool.go
index 8787570d7..3154aeb5b 100644
--- a/bindings/utils/state/megapool.go
+++ b/bindings/utils/state/megapool.go
@@ -44,6 +44,9 @@ type NativeMegapoolDetails struct {
 // Get the normalized bond per 32 eth validator
 // This is used in treegen to calculate attestation scores
 func (m *NativeMegapoolDetails) GetMegapoolBondNormalized() *big.Int {
+	if m.ActiveValidatorCount == 0 {
+		return big.NewInt(0)
+	}
 	return big.NewInt(0).Div(m.NodeBond, big.NewInt(int64(m.ActiveValidatorCount)))
 }
 
diff --git a/shared/services/rewards/generator-impl-v11.go b/shared/services/rewards/generator-impl-v11.go
index a8928fbb2..79ef8468b 100644
--- a/shared/services/rewards/generator-impl-v11.go
+++ b/shared/services/rewards/generator-impl-v11.go
@@ -580,12 +580,16 @@ func (r *treeGeneratorImpl_v11) calculateEthRewards(checkBeaconPerformance bool)
 				// Repeat, for megapools
 				if nodeInfo.Megapool != nil {
 					megapool := nodeInfo.Megapool
+					details := r.networkState.MegapoolDetails[megapool.Address]
+					// Skip megapools with no active validators (all exited/dissolved)
+					if details.ActiveValidatorCount == 0 {
+						continue
+					}
+					nodeFee := r.networkState.NetworkDetails.MegapoolRevenueSplitTimeWeightedAverages.NodeShare
+					voterFee := r.networkState.NetworkDetails.MegapoolRevenueSplitTimeWeightedAverages.VoterShare
+					pdaoFee := r.networkState.NetworkDetails.MegapoolRevenueSplitTimeWeightedAverages.PdaoShare
+					bond := details.GetMegapoolBondNormalized()
 					for _, validator := range megapool.Validators {
-						details := r.networkState.MegapoolDetails[megapool.Address]
-						bond := details.GetMegapoolBondNormalized()
-						nodeFee := r.networkState.NetworkDetails.MegapoolRevenueSplitTimeWeightedAverages.NodeShare
-						voterFee := r.networkState.NetworkDetails.MegapoolRevenueSplitTimeWeightedAverages.VoterShare
-						pdaoFee := r.networkState.NetworkDetails.MegapoolRevenueSplitTimeWeightedAverages.PdaoShare
 
 						// The megapool score is given by:
 						// (bond + effectiveNodeFee*(32-bond)) / 32