A study shows which companies have regularly increased their dividends. picture alliance / Zoonar | Matej Kastelic
German stock corporations in the DAX, MDax and SDax will pay out around 62.5 billion euros, according to a dividend study by DividendAdel, DSW and FOM. The value exceeds the previous year’s amount by 1.6 percent, despite problems at Bayer, BMW and Fresenius. Large global corporations such as Allianz, Airbus and Porsche AG in particular are driving the third dividend record in a row.
The 160 German stock corporations included in the Dax, MDax and SDax will distribute around 62.5 billion euros this year. This is the result of the dividend study by financial expert Christian Röhl from DividendAdelthe German Protection Association for Securities Ownership (DSW) and the University of Economics & Management Non-Profit Society (FOM).
This means that the value exceeds the total from the previous year by 1.6 percent – despite the “almost failure” at Bayer, the decline in the distribution at BMW and the cancellation at Fresenius due to state aid, according to the study.
Third dividend record in a row
This year there should be the third dividend record in a row. This is primarily driven by large global corporations. In the DAX, 24 out of 40 companies pay more than in the previous year, led by Allianz, Airbus and Porsche AG. Of the smaller and medium-sized companies, however, not even half are increasing their dividends – and one in five MDax and SDax companies leaves shareholders empty-handed.
A third of the DAX dividend sum goes to seven car stocks with 17.3 billion euros, another almost 20 percent goes to five insurance companies and banks with 9.7 billion euros. According to the study, the distribution volume for second-line stocks is likely to collapse by around two thirds to 5.5 billion euros in 2024. The background is the normalization at Hapag-Lloyd, where the exceptional economic situation caused by the pandemic brought shareholders 11.1 billion euros in dividends last year.
These German companies regularly pay out more money
But which German companies from the DAX, MDax and SDax have now continuously increased their dividends? Companies that increase their payouts for 25 years in a row are called “dividend aristocrats” in the USA – and are no longer found in Germany after Fresenius and FMC stopped increasing them in 2023. However, there are still eleven companies that have had at least ten increases in a row. Here they come:
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At the top of the ranking is the company Fuchs Vz. The family-run lubricants world market leader from the MDax shows: Dividend quality is also possible with a business geared towards cyclical industries. The most recent increase from 1.06 to 1.10 euros per preferred share is the 22nd in a row – according to the analysis, no other German stock exchange company has a longer series.
Performance of Fuchs shares. DividendAdel, DSW, FOM
However, it is important to note: “A long track record of stable or continuously increasing payouts is often an indication of the resilience of business models – but is not a guarantee of dividends,” warn the study authors. Investors should therefore always remember that the past does not allow any conclusions to be drawn about the future.
Disclaimer: Stocks and other investments generally involve risk. A total loss of the capital invested cannot be ruled out. The articles, data and forecasts published are not a solicitation to buy or sell securities or rights. They also do not replace professional advice.