Business News
According to a study, the largest German stock exchange companies are paying record dividends to their shareholders despite the economic crisis.
Apr 05, 2026, 06:03Apr 05, 2026, 06:03
In total, the 40 DAX companies are expected to pay out around 55.3 billion euros, according to calculations by the consulting firm EY.
German corporations continue to pay high dividends (Image: Mercedes headquarters in Stuttgart).Image: keystone
That is 5.9 percent more than in the previous year (52.2 billion euros) and a new record. According to this, 25 DAX companies paid out more dividends for the past financial year than in the previous year, and 10 companies saw their payouts fall. Many companies presented very good figures for the past year, says Jan Brorhilker, Managing Partner at EY. “Investors benefit from this.”
Allianz remains the dividend king with a dividend total of 6.5 billion euros, followed by Deutsche Telekom (4.8 billion euros) and Siemens (4.2 billion euros). Then come Mercedes, the reinsurer Munich Re and SAP.
The ailing auto industry in particular is paying out less than in the previous year: According to EY, Mercedes-Benz is reducing its dividend sum by 19 percent, while Porsche Automobil Holding is down 21 percent.
Dividends, on the other hand, are rising particularly sharply at engine manufacturer MTU Aero Engines (plus 64 percent), Deutsche Bank (plus 44 percent) and Commerzbank (plus 61 percent), which is resisting a takeover by Unicredit. For the study, EY evaluated annual reports, press releases and invitations to general meetings. In many cases, the dividend plans still have to be approved at general meetings, but that is a formality.
Dividends sought after by shareholders
With dividends, companies allow shareholders to participate in their business success. Although the German economy is in crisis, the DAX companies make the majority of their sales abroad. Sectors such as banks and insurance posted record results in 2025.
In Germany, dividends are usually paid once a year after the annual general meeting in the spring. Many investors rely on them as additional income. Studies show that dividends contribute a large part to the overall return of stocks in the long term.
According to Brorhilker, shareholders should not expect a new dividend record next year. Many DAX companies are doing well, but industrial companies in particular are in a state of deep change. “Overall, a total distribution at the current level next year would be a big surprise – investors should be prepared for declines.” (sda/dpa)