In this paper, a dual-band impedance transforming power divider is investigated for all types of impedance environments at its ports, irrespective of the locations of the ports. The intuitive design approach utilizes conventional single-band Wilkinson Power Divider (WPD) architecture to provide superior dual-band performance with arbitrary port impedances. The proposed power divider also accords a high degree of design flexibility with high frequency ratios (r) and impedance transformation ratios (k). The presented concept is evaluated and verified by design examples and measurements with a fabricated prototype. The agreement between the simulation and measurement results validates the working of the proposed architecture with arbitrary source and load port impedances at two arbitrary design frequencies.