Posts
127- 14 positive surprises
- Three negative surprises
- Dividend increases
- Dividend decreases
- Overview of all DAX stocks
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$ALV (-0.53%)
$MUV2 (-0.66%)
$RHM (-2.99%)
$MBG (-1.05%)
$SAP (-0.89%)
$BMW (-1.77%)
$AIR (-1.35%)
$VOW (-2.06%)
$DBK (-2.86%)
$CBK (-4.3%)
$SIE (-2.43%)
$P911 (-1.65%)
$DTE (+2%)
$IFX (-3.65%)
Almost three-quarters of all DAX and MDAX companies pay out dividends in May.
Dividend calendar with payday and expected yield:
This year's dividend champion is likely to be $RTLL (-1.4%) - RTL Group. Shareholders can expect a yield of around 8%. However, this is only half as high as three years ago.
Deutsche Telekom is now increasingly seen as a dividend pearl. $DTE (+2%) - Deutsche Telekom is increasingly seen as a dividend pearl. This year's dividend is EUR 0.90, i.e. an increase of 17% on the previous year, with a yield of around 2.7%.
Other reliable payers are $SIE (-2.43%) - Siemens and $SAP (-0.89%) - SAP.
One of the most reliable payers of all is $MUV2 (-0.66%) - Munich Re. There has never been a dividend shortfall since 1960 and the amount paid per share has increased sixteen-fold since the beginning of the millennium.
There are also some attractive dividend payers in Europe, such as $ENI (-1.06%) - ENI and $ISP (-1.68%) - Intensa and $BNP (-1.54%) - BNP.
Source (excerpt) / graphics: WELT
If Warren Buffett's Berkshire is already making a lot of money with insurance, it can't hurt me either 😁
My $ORI (-0.97%) I started building up my position in September 2021, until then I had only $ALV (-0.53%) and $AFL (-1.61%) in the portfolio. In the meantime $TRV (-1.34%) and recently also $AMP (-4.05%)
$BRO (-0.29%) have landed in the Scalable portfolio, in which I also invest in the "Ultimate Homer ETF" Trade Republic Depot via a savings plan, as well as $MUV2 (-0.66%)
$HNR1 (-0.11%)
$PGR (+1.55%)
$ALL (-2.06%)
$AJG (-0.79%)
$TLX (-1.37%)
$8766 (-3.21%) 😁
Which insurance companies are you with?
Old Republic balance sheet
Benchmark
Amazing that with a dividend aristocrat you could keep up well with the ETFs over the last 5 years 💪😁
Benchmark vs competition
Hello dear GQ community,
almost a month ago I already presented my portfolio and my investment case. (those interested can take another quick look at it)
I have now experienced the first correction of my investment career and can say that, yes, it hurts to look at the portfolio with all the red figures, but holding on to the fact that I am convinced of the companies in the long term has kept me strong up to this point. Only time will tell whether this correction was particularly strong or weak. True to the motto "red means supply", I have tried to use my uninvested budget for additional purchases and new positions.
I may have too many different positions for some people's taste and still have too large a stake in the US, tech and financial sectors. Overall, I am simply a fan of picking companies that fulfill three conditions:
- consistent dividend growth over the last 10 years
- long-term share price growth (depending on how long the company has been on the stock market, but if I don't have green figures over the maximum period, I leave you out)
- preferably a P/E ratio of less than 20 (with exceptions)
And generally in line with my case, a 3+% dividend.
In the unknown future, I will continue to hold my small positions of $PLTR (-5.48%) , $BLK (-3.25%) , $NVDA (-2.82%) and $TGT (-3.77%) (these were my first 4 purchases of 25€ each without any idea, Palantir compensates the losses of the other 3 quite nicely). From $AAPL (-3.43%) in the long term, but it does not yet play a major role in my immediate savings.
By the end of the year, I will be saving a further €750 a month via a savings plan, split evenly between $PETR3 (-2.01%) , $MUV2 (-0.66%) , $7203 (-3.27%) , $ENEL (+2.73%) , $HTGC (-3.51%) and $ALV (-0.53%). With the aim of balancing out the inequality somewhat.
In general, I am very happy to have discovered this platform, as I have gathered many useful tips and experiences, so thank you for that.
I am always grateful for your opinions, tips and suggestions. Thanks for reading.
At 53 billion euros, the 40 DAX companies are likely to pay out almost one billion euros more this year than a year ago - more than ever before.
The reason for the strong development is high consolidated profits and unexpectedly rising dividends at a good dozen companies, including $ALV (-0.53%) Allianz, $MUV2 (-0.66%) Munich Re and $RHM (-2.99%) Rheinmetall.
At 109 billion euros net profit, the DAX companies are likely to have earned as much in 2024 as in the previous year, according to Handelsblatt calculations. Slump in earnings for the three car manufacturers $BMW (-1.77%) BMW, $MBG (-1.05%) Mercedes and $VOW (-2.06%) VW will be offset by companies in other sectors, in particular the major insurers Allianz, Munich Re and $HNR1 (-0.11%) Hannover Re, but also $DTE (+2%) Deutsche Telekom, $HEN (-0.82%) Henkel and $EOAN (+2.33%) Eon.
More than a dozen DAX companies have announced higher dividends than the market had previously expected. For example $ALV (-0.53%) 15.40 euros per share after 13.80 euros in the previous year. Analysts had forecast just under 15 euros. The insurer is thus distributing just under six billion euros. This is a record in the German corporate landscape.
The biggest jump is at $MUV2 (-0.66%) Munich Re: The reinsurer is increasing its dividend by five euros per share to 20 euros.
The two healthcare specialists $FRE (+0.16%) Fresenius and $FME (+0.82%) Fresenius Medical Care, the brand manufacturer $HEN (-0.82%) Henkel, the automotive supplier $BTR Continental, the $CBK (-4.3%) Commerzbank, $RHM (-2.99%) Rheinmetall and $HNR1 (-0.11%) Hannover Re have raised their dividends, in some cases significantly more than expected. This is also due to rising profits, which justify a higher profit share for shareholders.
The largest dividend payers in the DAX are
Like the car manufacturers, a number of companies in the DAX remain below the usual international payout ratios, including the family-run groups $BEI (+0.5%) Beiersdorf and $MRK (+0.91%) Merck. They pass on less than 30 percent of their profits. This leaves enough of a buffer so that dividends do not have to be reduced immediately in more difficult times.
Germany's most valuable group, $SAP (-0.89%) SAP, with a payout ratio of 85%, is pushing the limit: net profit of 3.1 billion euros in the past year compares with a total dividend payout of 2.7 billion euros. However, the profit was burdened by a one-off effect.
So far, a total of 20 companies have increased their dividends, with only $BAS (-1.12%) BASF and the three car manufacturers. Four companies have yet to do so: $RWE (+0.03%) RWE, $SY1 (+1.64%) Symrise and $VNA (+1.95%) Vonovia are likely to increase their dividends, while analysts expect $PAH3 (-3.13%) analysts expect a reduction at Porsche Holding.
Source (excerpt) & chart: Handelsblatt, 15.03.25
The $IWDA (-2.41%) is now back below its value at the beginning of the year, which is probably due to Trump's announcements on punitive tariffs.
As I have a low US weighting in my portfolio, the return is much better. For the time being, the assumption that the US economy will develop rather negatively in the coming years and that international investor confidence will also decline seems to be confirmed. Europe and Canada are now working together more closely than ever before and I believe it is likely that new trade agreements beyond CETA will be concluded. These could, for example, be agreements on the supply of raw materials or weapons, which would then benefit both partners without using the USA as a mediator (as is currently the case). Public concerns about the potential threat of war are growing, which is of course particularly good for insurance companies and the arms industry. The greater the fear in society, the greater the need to insure against this fear, for example through term life, building protection, household contents or legal expenses insurance. Primary insurers such as Allianz ( $ALV (-0.53%) ) and reinsurers such as Hannover Re ( $HNR1 (-0.11%) ) and Munich Re ($MUV2 (-0.66%) ). I do not $MUV2 (-0.66%) is not in my portfolio because I don't want to overdiversify and therefore only hold Hannover Re, which has a more stable historical performance.
If there is a fear of war, people also want to protect themselves physically, which is why they are more willing to spend a larger proportion of their economic output on defense.
All of this would benefit my portfolio. With Thales ( $HO (-2.32%) ) I am up 75% since the beginning of the year. Safran ($SAF (-2.32%) ) has also gained 25%. However, I am more convinced by Thales, as they offer cyber security products/solutions in addition to military machines. We still have a lot of demand in this area and new security concepts have to be developed all the time as the old ones can suddenly be circumvented at some point. The products are therefore never fully developed, which is why innovation is always possible, enabling higher prices due to higher quality.
So my conclusion is this: I am currently cautious about US equities. The insurance and defense sector will benefit regardless of whether war actually breaks out or not and I therefore expect returns above the market average.
Munich Re $MUV2 (-0.66%) is bringing a breath of fresh air to its shareholders! The reinsurer has not only raised its dividend, but also announced a huge share buyback program worth up to 2.0 billion euros. 💰
Shareholders can look forward to a dividend payout of EUR 20.00 per share for the past financial year 2024. This is a whopping EUR 5.00 more than in the previous year and significantly exceeds the expectations of analysts, who had forecast EUR 16.50.
In addition, Munich Re plans to buy back its own shares between April 30, 2025 and the 2026 Annual General Meeting. This will increase the total capital return to shareholders to €4.6 billion, compared with €3.5 billion in the previous year.
In addition, the Group has achieved a convincing profit of €5.67 billion in 2024, which is above its own targets. For the current year, Munich Re continues to expect a profit of 6 billion euros. The company thus remains on a record course and the dividend is a positive surprise!
Munich Re $MUV2 (-0.66%) is one of the world's leading reinsurers and a real player in the insurance sector.
In this article, I take a look at the results published this morning for the year 2024 and the past Q4.
The main source is the report "MunichRe balance sheet media release" [1], as well as the published figures from the "Financial Supplement" [2].
Munich Re is currently the smallest single position in my portfolio, with a share of 2.22% according to Deepdive.
Munich Re had a strong year in 2024 [2]:
*Return on equity measures the profitability of equity and shows how efficiently Munich Re generates profits with the equity it has invested. The result of 18.2% shows an improvement in profitability, which points to higher profits despite challenging conditions.
Q4 was also solid, albeit with minor setbacks [2]:
✅ Q4 operating result: €1.67 billion (+38.6% on estimate)
✅ Earnings per share: € 7.54 (+20.2% on estimate)
📊 Q4 consolidated net income: € 979 million (-2.5% compared to Q4 2023)
-> more on the classification of the decline in the Q4 reinsurance result in a moment...
Dividend and share buy-backs
What's behind these figures? Let's take a look at the business segments! [1,2]
++ Reinsurance: The heart of Munich Re ++
Reinsurance means that Munich Re acts as an "insurance company for insurance companies". Companies such as Allianz or AXA insure themselves here against extreme losses, for example.
2024 for the sub-sector:
Despite natural disasters, business was strong, particularly in the property/casualty segment.
++ ERGO: The insurance business for end customers ++
ERGO is the part of Munich Re that offers traditional insurance for private individuals and companies (e.g. motor, health and life insurance).
2024 for the sub-segment
Classification & reasons for slight decline in reinsurance Q4 [1]
1 . Higher burdens due to major losses:
2 . Decline in investment income:
3 . Increase in the tax rate:
4 . Operational challenges in individual segments:
Major claims and their impact
In 2024, there were several notable major claims that impacted Munich Re:
Rising premiums are the logical consequence
Munich Re is adapting with rising prices and better risk models, but natural catastrophes remain a major risk.
🔮Outlook for 2025
Munich Re is optimistic about the year 2025 and is aiming for a consolidated result of 6 billion to be achieved. Insurance sales are expected to increase to 64 billion and the return on investment is expected to exceed 3,0 % is expected. Further growth is expected in the reinsurance business, while ERGO should continue its strong development.
💡Conclusion
Munich Re delivered another impressive performance in 2024 and exceeded its targets. With a record dividend, planned share buy-backs and an optimistic outlook for 2025, the company underlines its financial strength and its ability to operate successfully and profitably even in a challenging environment. It has coped well with the impact of major losses and the diversification of its business areas continues to offer stability.
For me, Munich Re remains an attractive option in the insurance sector and will continue to be held and possibly increased to a maximum of 4% of the portfolio by the end of the year, as Munich Re remains an insurance giant with growth potential.
💬 What do you think?
THANKS FOR READING 🤝
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Sources:
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$MUV2 (-0.66%)
$HNR1 (-0.11%)
$ALV (-0.53%)
$MUV2 (-0.66%) and decides to buy back shares with a volume of up to € 2.0 billion
