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Exploring Top Dividend Stocks In Germany For June 2024

As of late, Germany's DAX index has reflected a cautious sentiment, declining by 1.05% amidst rising inflation concerns across Europe that have stirred uncertainty about future monetary policies. This environment underscores the importance of considering dividend stocks, which can offer investors potential steady income streams and a degree of resilience against market volatility.

Top 10 Dividend Stocks In Germany

Name

Dividend Yield

Dividend Rating

Allianz (XTRA:ALV)

5.10%

★★★★★★

Edel SE KGaA (XTRA:EDL)

6.76%

★★★★★★

Deutsche Post (XTRA:DHL)

4.79%

★★★★★★

Südzucker (XTRA:SZU)

6.39%

★★★★★☆

MLP (XTRA:MLP)

4.75%

★★★★★☆

Deutsche Telekom (XTRA:DTE)

3.40%

★★★★★☆

DATA MODUL Produktion und Vertrieb von elektronischen Systemen (XTRA:DAM)

6.17%

★★★★★☆

SAF-Holland (XTRA:SFQ)

4.86%

★★★★★☆

Mercedes-Benz Group (XTRA:MBG)

7.99%

★★★★★☆

Uzin Utz (XTRA:UZU)

3.11%

★★★★★☆

Click here to see the full list of 31 stocks from our Top Dividend Stocks screener.

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Let's review some notable picks from our screened stocks.

Allianz

Simply Wall St Dividend Rating: ★★★★★★

Overview: Allianz SE operates globally, offering property-casualty insurance, life/health insurance, and asset management services with a market capitalization of approximately €105.43 billion.

Operations: Allianz SE generates €73.12 billion from property-casualty coverage, €44.96 billion from life and health policies, and €3.23 billion through asset management services.

Dividend Yield: 5.1%

Allianz SE maintains a robust dividend profile with a 5.1% yield, ranking in the top 25% in Germany. Its dividends are well-supported by both earnings and cash flows, with payout ratios at 65.1% and 24.1%, respectively. Despite trading at a significant discount to its fair value (62.1%), Allianz has shown consistent dividend reliability over the past decade and modest earnings growth, including an 8.1% increase last year alone. Recent affirmations of its EUR 14.8 billion operating profit target for 2024 further underscore financial stability.

XTRA:ALV Dividend History as at Jun 2024
XTRA:ALV Dividend History as at Jun 2024

KSB SE KGaA

Simply Wall St Dividend Rating: ★★★★☆☆

Overview: KSB SE & Co. KGaA is a global manufacturer and supplier of pumps, valves, and related services with a market capitalization of approximately €1.18 billion.

Operations: KSB SE & Co. KGaA generates revenue through three primary segments: Pumps (€1.51 billion), Valves (€0.36 billion), and KSB SupremeServ (€0.94 billion).

Dividend Yield: 3.7%

KSB SE & Co. KGaA has announced a dividend of €26.00 per ordinary share and €26.26 per preference share, set for distribution following the upcoming Annual General Meeting on May 8, 2024. Despite a volatile dividend history over the past decade, recent financials show promising stability with a net income increase to €152.3 million from last year's €103.65 million and sales rising to €2.82 billion. The company’s dividends are well-covered by earnings and cash flows, with payout ratios at 29.9% and 26.2%, respectively, though its yield of 3.69% remains below the top quartile in Germany's market at 4.59%.

XTRA:KSB Dividend History as at Jun 2024
XTRA:KSB Dividend History as at Jun 2024

Mercedes-Benz Group

Simply Wall St Dividend Rating: ★★★★★☆

Overview: Mercedes-Benz Group AG is a global automotive company based in Germany, with a market capitalization of approximately €66.61 billion.

Operations: Mercedes-Benz Group AG generates revenue through three primary segments: Mercedes-Benz Cars (€110.66 billion), Mercedes-Benz Vans (€20.57 billion), and Mercedes-Benz Mobility (€26.93 billion).

Dividend Yield: 8%

Mercedes-Benz Group AG recently increased its dividend to €5.30 per share, reflecting a slight increment from the previous year's €5.20. Despite this increase, the company's dividends have shown volatility over the past decade, lacking consistent growth or stability. Financially, Mercedes-Benz reported a decrease in both sales and net income in Q1 2024 compared to the same period last year, with sales dropping to €29.02 billion and net income to €2.97 billion. The dividends are covered by earnings and cash flows with payout ratios of 41.9% and 70.4%, respectively; however, earnings are expected to decline slightly over the next three years.

XTRA:MBG Dividend History as at Jun 2024
XTRA:MBG Dividend History as at Jun 2024

Seize The Opportunity

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Curious About Other Options?

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include XTRA:ALV XTRA:KSB and XTRA:MBG.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com