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Dividends Made in Germany: A Review of Payouts of the DAX Index

Published Wed, 11 May 2011 11:09:05 -0400 on Seeking Alpha

In Germany, the time between April and June is when publicly listed companies usually hold their annual general meetings. Unlike in the United States or other countries, the dividend payment of German stock companies is inherently linked to their annual general meeting. The AGM approves a dividend payout, the stock goes ex-dividend the day after the general meeting, and usually the dividend is credited to accounts on the same day or the next. There are no such things as quarterly or semi-annual dividends. This means that each year, between April and June, German companies open up their coffers to shareholders for a more or less large one-time payment. For the German blue chip index, the DAX-30, this payment is set to reach nearly 26 billion Euros this year, a sum nearly 30% higher than last year's. While there are many ETF products in Europe mirroring the DAX, US investors probably... Read more

Stock name Last trade   P/E Earnings/Share Dividend/Share Dividend yield
DEUTSCHE TELEKOM 14.15   20.1 67.71 0.70 4.92
DEUTSCHE BANK 31.94   0.0 -0.05 0.91 2.85
SAP 65.68   19.7 3.36 1.38 2.10
FRESENIUS MEDICAL CARE 35.83   23.1 1.53 0.39 1.08