Dax dividends fall

In 2025, the 40 DAX companies will be paying out seven percent less than last year, according to a forecast by Handelsblatt. Car manufacturer shareholders will be hit particularly hard.

Many DAX shareholders will have to adjust to lower dividends for the current financial year: According to a forecast by Handelsblatt, the 40 Dax-listed companies will pay out a combined €48.5 billion next spring. That would be seven percent less than in the previous year.

At the same time, 22 companies are likely to further increase their payouts and eight will reduce their dividends. But overall, there will be a decline for the first time since the outbreak of the pandemic. This is mainly due to the car manufacturers, where the dividend total is likely to fall by almost 35% to around ten billion euros. This is due to falling profits at VW $VOW (+1,96 %) , BMW $BMW (+0,87 %) and Mercedes $MBG (-0,07 %) due to poor sales figures in Europe and especially in the former boom country China.

In contrast, the sporting goods manufacturer Adidas $ADS (-0,15 %) , the Deutsche Telekom
$DTE (-0,92 %) and the arms manufacturer Rheinmetall $RHM (-0,78 %) are increasing their dividends particularly sharply. This also applies to Deutsche Bank
$DBK (-1,71 %) and Commerzbank $CBK (-1,64 %) and the insurers Allianz $ALV (-0,66 %) , Munich Re
$MUV2 (-1,1 %) and Hannover Re
$HNR1 (-0,97 %) . The healthcare group Fresenius $FRE (-0,84 %) has not distributed anything for 2023, but is now planning a dividend again.

Commerzbank analyst Andreas Hürkamp sees a rotation: "In 2011, the automotive sector replaced utilities as the sector with the highest dividends. Now it is becoming apparent that after 14 years, insurers will be the new number one dividend payers in the DAX."

Handelsblatt