$ULVR (-0,6 %)

I can no longer find the post from earlier in which it was written that the ISIN is changing to a us-isin.

This does not seem to be true, Unilever is now tradable again under ISIN GB00BVZK7T90.

However, the acquisition costs are no longer correct. Unilever shows me a buy in of €0, while the buy in I actually have for Unilever is now shown for this Magnum share.

Has anyone else experienced this with trade Republic? How is it with other brokers?

Tomorrow is finally the IPO and as a long-term investor $ULVR (-0,6 %) investor am curious to see how it develops. I am very excited about the development of TMICC, I have almost every brand in the freezer.

The sensible use of saved capital in retirement requires good planning. Especially if you want money to flow out of it regularly to secure or sweeten the third stage of your life.

Financial brokers then like to offer pension insurance based on a single payment, often called an immediate annuity.

With a normal life expectancy, the return is usually not generous because insurers usually invest very conservatively. In addition, the costs and profit margins of the insurance company further reduce the return. Consumer advocates point out that you usually have to live to be 94 years or older before you receive the investment sum back via guaranteed pensions.

It is often more profitable to park the money in a call money account.

Investments with regular distributions are an alternative. Investors are spoiled for choice between several thousand dividend-paying equity funds.

What are the relevant selection criteria? Quality and cost structure.

For some, the level of distributions may also be an important criterion in the selection process. But caution is advised here: For example, the payout ratio of the Global X Super Dividend ETF $SDIP (+0,05 %) is currently over nine percent. With an investment sum of 100,000 euros, this results in a monthly inflow of around 750 euros before tax.

This is possible because the ETF invests stubbornly in the 100 companies with the highest dividends worldwide, but without any consideration of the sustainability of these distributions and the quality of the companies.

This in turn means that, without the dividends, the ETF generated a return of zero over one year and even minus 14% over three years. Investors therefore received high regular payouts, but the investment capital decreased significantly at the same time.

Savers should therefore always pay attention to how the ETF invests. There are various positive counter-examples, such as the Invesco Euro Stoxx High Dividend Low Volatility ETF $EUHD (-0,07 %). Although this also focuses on high-dividend companies, it also selects according to qualitative criteria. Result: Although the payout ratio is currently "only" 5.1% per year, this amounts to around EUR 425 per month before tax for an investment sum of EUR 100,000.

However, the ETF has also achieved growth of almost 36% over the past three years, and including distributions, the gain was even over 60%. There are similarly good ETFs for various other investment regions or sectors.

Bond ETFs, on the other hand, are rarely a real alternative for private investors. Although distribution rates of four or five percent can be achieved, this is ultimately only possible with high-risk bonds or US securities with a corresponding currency risk. In addition, a positive return can rarely be achieved over and above the distribution.

A (possibly riskier) alternative is to invest in individual shares with high dividends. However, quality is even more important here. "We value companies with a strong balance sheet that are characterized by a high equity ratio and above-average returns on capital and sales," says Franz Kaim from Kidron Vermögensverwaltung in Stuttgart.

Continuity is also important. "The so-called dividend aristocrats are the gold standard for income-oriented investors," says Rainer Laborenz, Managing Partner of Azemos Vermögensverwaltung in Offenburg. "Companies that have increased their dividends for at least 25 consecutive years are included in this select group."

There are currently around 150 dividend aristocrats worldwide, 117 of which are from the USA and 33 from the rest of the world. The best-known names include Coca-Cola $KO (-0,02 %)Procter & Gamble $PG (-0,06 %) and Johnson & Johnson $JNJ (-0,02 %) from the USA, Fresenius from Germany $FRE (+0,05 %) and Unilever $ULVR (-0,6 %) from Great Britain.

Other attractive dividend stocks recommended in a WELT survey of ten leading asset managers in Germany include Allianz $ALV (-0,16 %)BASF $BAS (+0,05 %)Beiersdorf $BEI (-0,14 %)Deutsche Post $DHL (-0,11 %) and Munich Re $MUV2 (+0 %).

In other European countries, they rely on BAT $BATS (-0,81 %), BP $BP. (+0,15 %), Nestlé $NESN (-0,14 %), NN Group $NN (+0,05 %)Shell $SHEL (-0,13 %) and Swiss Life $SLHN (+0,3 %).

In the USA, names such as Altria $MO (-0,05 %), Chevron $CVX (+0,07 %)Cisco $CSCO (-0,07 %), Coca-Cola, Kimberly-Clark $KMB (+0,1 %) , McDonald's $MCD (+0,23 %) or Pepsi $PEP (+0,96 %).

Source: Text (excerpt) & table: Welt, 05.12.25

📈 Performance:

S&P500: -0.48%

MSCI World: -0.59%

DAX: -0.51%

Dividend portfolio: +2.91%

My high and low performers in November were (top/flop 3):

🟢 ($LLY (-0,07 %) ) Eli Lilly +24.74%

🟢 ($BATS (-0,81 %) ) British American Tobacco +13.36%

🟢 ($DHL (-0,11 %) ) Deutsche Post +12.64%

🔴 ($TSLA (+0,58 %) ) Tesla -6.57%

🔴 ($HD (-0,05 %) ) Home Depot -7.61%

🔴 ($LMT (-0,17 %) ) Lockheed Martin -16.76%

Dividends:

November 2025: €145.50 + €13.50 gross (Petroleo Brasileiro $PETR4 (+0,27 %) )

November 2024: € 129.78

Change: +12.11%

Sales:

🟥 None

Purchases:

🟩 ($ULVR (-0,6 %) ) Unilever (6 pcs.)

Savings plans:

($CTAS (-0,05 %) ) Cintas (50€)

($MC (+0,09 %) ) LVMH (50€)

($MSFT (+0,12 %) ) Microsoft (25€)

What else has happened?

November was also very quiet. Three weeks of vacation were planned, two of which are already over. I did a few things in and around the house, but otherwise did a lot of nothing and relaxed in preparation for Christmas.

🥅 Goals for 2025:

Deposit of €10,000 and thus a deposit volume in the share portfolio of ~€73,000

Target achievement at the end of November 2025: 82.35%

So I won't reach my personal target. However, a small consolation for me: I will achieve my own and rather unofficial target of € 2400 net dividend.

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As a Swiss, this is my best investment this year. Limited fan edition by Zweifel in cooperation with $ULVR (-0,6 %) 😍😍

$ULVR (-0,6 %) has announced that it will spin off its global ice cream division, including brands such as Magnum, Ben & Jerry's, Langnese and Cornetto, into an independent company called The Magnum Ice Cream Company (TMICC).

The reasons for this:

• Unilever sees the ice cream business as having a strong seasonal component, high capital commitment and complex supply chains - these are very different from its core beauty, personal care and food businesses.
• The spin-off is intended to release value: TMICC should grow independently, with a targeted focus on brands, realize economies of scale and offer investors a pure "ice cream playground".

Key data of the spin-off

• TMICC will be headquartered in the Netherlands and plans to be listed on the stock exchanges in Amsterdam, London and New York.
• Unilever will retain a minority stake of less than 20% after the spin-off and will reduce this over time.
• Employment conditions for around 6,000 Eiskrem employees in Europe/UK have been secured in advance for at least three years to ensure stability during the transition phase.

Opportunities & risks

Opportunities:

• TMICC can fully specialize in ice cream, allowing it to operate more flexibly and potentially achieve higher margins.
• Investors gain a clearer investment vehicle for the global ice cream market - potential for valuation premium.

Risks:

• Seasonal and weather-dependent business, cold transportation chains, competitive pressure and fluctuations in raw material and energy prices remain challenges.
• At the same time, brands such as Ben & Jerry's are struggling with strategic tensions: e.g. conflicts over the social mission vis-à-vis TMICC/Unilever.

Question for the forum:

What do you think about the spin-off of Unilever's ice cream business into the Magnum Ice Cream Company? Do you think that TMICC really is really better positioned to increase growth and margins - or is there a risk that the spin-off will bring more risk than benefit?

Disclaimer:

I am invested and Unilever is a SWAN (sleep well at night) stock for me in my dividend portfolio, in fact one of my largest positions.

My review of October 2025. Many thoughts and yet no solution.

There's also a question at the end of the article.

📈 Performance:

S&P500: +4.73%

MSCI World: +4.25%

DAX: +0.32%

Dividend portfolio: +1.13%

My high and low performers in October were (top/flop 3):

🟢 ($LLY (-0,07 %) ) Eli Lilly +20.29%

🟢 ($MC (+0,09 %) ) LVMH +17.59%

🟢 ($STAG (+0,03 %) ) STAG Industrial +11.02%

🔴 ($CTAS (-0,05 %) ) Cintas -8.41%

🔴 ($TXN (+0,08 %) ) Texas Insturments -11.09%

🔴 ($RACE (-0,82 %) ) Ferrari -15.71%

Dividends:

October 2025: €126.83

October 2024: € 147.55

Change: -14.04%

Sales:

🟥 None

Purchases:

🟩 ($ULVR (-0,6 %) ) Unilever (8 pcs.)

🟩 ($WM (-0,13 %) ) Waste Management (2 pcs.)

Savings plans:

($CTAS (-0,05 %) ) Cintas (50€)

($MC (+0,09 %) ) LVMH (50€)

($MSFT (+0,12 %) ) Microsoft (25€)

What else has happened?

October was very quiet. Apart from a week's vacation and my birthday, nothing much happened. I used the quiet (and free) time to continue thinking about my nest egg. When do I fill it up and how much? Does it really have to be €10,000? How quickly should this happen or can I just save up slowly? What would be my safe-sleeping amount? Questions upon questions. I have also found many answers. However, I haven't really got any further because I can't make up my mind.

The current situation is as follows: The savings rate on shares will be reduced, and the special payment will not be included in the $XEON (+0 %) (i.e. for loan repayments), but will also go into the nest egg. I have set the amount I want to save to €5,000. That would then be done. I'll be rebuilding again from January. Until then, I'm still working out how I can present it well and what I feel comfortable with. I can still save the amount for the loan, as long as I plan a monthly savings amount at some point and don't just use the special payments.

🥅 Goals for 2025:

Deposit of €10,000 and thus a custody account volume in the share portfolio of ~€73,000

Target achievement at the end of October 2025: 77.94%

If everything remains/becomes as planned, I will not reach my personal target. But if I don't change my mind again (which would result in a lower nest egg) or get a windfall for Christmas, then I don't see any more options at the moment.

How would you solve my "problem" with the nest egg? How would you decide?

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$ULVR (-0,6 %)

As you have probably noticed, Unilever has been considering the idea of separating and spinning off its ice cream division in the past.

The next clear steps in this plan have now been taken with the last shareholders' meeting. I am copying the information here for you, which every shareholder will receive in one form or another via their bank.

The Annual General Meeting of Unilever PLC resolved on 21.10.2025 to carry out a reverse stock split.

(a "reverse split") and to spin off its ice cream division and list it on the stock exchange under the name The Magnum Ice Cream Company ("TMICC") (a "spin-off").

What does this mean for you now?

If you have shares in Unilever PLC in your securities account at the end of November 7, 2025, you will also receive shares in TMICC (ISIN not yet known).

The new shares are expected to be booked in at a ratio of 5:1, i.e. for every 5 shares in Unilever PLC you will also receive one share in TMICC.

one share in TMICC.

If you have shares in Unilever PLC in your securities account at the end of 10.11.2025, these will be combined. The consolidation ratio is not yet known. Your shares will be converted into the

new ISIN GB00BVZK7T90 / WKN A41NM1. The market value of your shares will increase at the same time in line with the merger ratio.

You will therefore not suffer a loss in value, but

you will only have a smaller number of shares in your securities account.

We will automatically credit or exchange the shares for you - so you don't need to worry about anything. However, we cannot say exactly when we will credit the shares to you. That depends on when we receive them from our depositary. We currently have no further information on this.

Please also note that due to the current "government shutdown" in the

the issue of TMICC shares will be delayed due to the current government shutdown in the USA, as further approvals from the US authorities are required, which cannot be obtained at present.

What tax implications does this have for you?

The spin-off will be tax-neutral under German tax law. In this case, this means that the acquisition costs of your Unilever PLC shares will be reduced by around 16.67%. This discount will be transferred to the new shares of TMICC and represents

and represents their acquisition cost. This division of the acquisition costs means that no capital gains tax is incurred.

The reverse split is also tax-neutral. This means that you do not have to pay capital gains tax on the exchange into the new shares and the acquisition costs of your previous shares are transferred in full to the new shares.

According to the information available to us from our depositary, the issue of the new shares will be subject to UK Stamp Duty Reserve Tax of up to 1.5% of the consideration. As soon as we receive this charge, we will pass it on to you and debit your custody account. However, we are currently unable to inform you when or in what amount the charge will be made.

debit will be made. We have no information on this.

Please note: This information is provisional and may change at any time. It is therefore possible that capital gains tax may still be payable on the spin-off or reverse split.

What do I do with the information?

As I only hold around 1.86 shares at the time of this information, as my standing order has only been running since January, I have decided to set the standing order so that I have just over 2 shares as of November 1.

In addition, I have just bought 18 additional shares with the aim of reaching just over 20 shares after November 1st.

This gives the existing 1.86 shares the opportunity to make their contribution to the spin-off.

After the reverse split, I will try to sell the money from the 18 old shares again at a slight profit and then continue my standing savings order on the new Unilever at the usual slow pace.

Whether I see the ice cream division as another share in my portfolio and then add to it or sell it will depend on the further development (dividend strategy etc.) of the new company.

How are you dealing with this issue and your shares?

What are your opinions on the future of the two companies?

The new Nestlé $NESN (-0,14 %) Group CEO Philipp Navratil wants to make savings and is cutting 16,000 jobs. The manager has increased the savings target from 2.5 billion to 3.0 billion Swiss francs by the end of 2027.

In his first major public appearance, Navratil explained that volume growth was his top priority. "To this end, we have increased our investments in a targeted manner and have already achieved initial results. Now we need to do even more, act faster and accelerate our growth momentum."

A lot of work is needed to get Nestlé back on track. Because when it comes to key indicators such as sales growth and share price performance, the food giant, whose products range from ready meals and frozen products to confectionery, coffee, Vittel water and pet food, is now lagging behind rivals such as Danone $BN (+0,13 %) and Unilever $ULVR (-0,6 %) are lagging behind.

Source text (excerpt) & graphic: Handelsblatt, 16.10.2025