FRANKFURT (dpa-AFX) - Investors can look forward to record dividends from German listed companies, according to a study. The 100 largest listed companies are likely to pay out around 62 billion euros for the past fiscal year, DZ Bank estimated in a study published on Thursday. Despite all the crises, this would be a new record and an increase of around ten percent compared to the previous year. The previous record amount for fiscal 2021 was 56.5 billion euros, according to the data.

The automotive sector again contributed the lion's share of dividend payments with 28 percent, ahead of the industrial sector with just under 15 percent and the insurance sector with 12 percent, it said. Insurance thus displaced the chemical industry, which is struggling with the energy crisis, from third place. The average dividend yield, i.e. the proportion of the share price paid out in dividends, is 3.5 percent in the leading Dax index and thus roughly in line with the long-term average.

According to the study, the dividend king remains the Mercedes-Benz Group with a profit distribution of 5.6 billion euros, followed by its competitor BMW (5.1 billion) and the insurance group Allianz (4.6 billion). In fourth and fifth place were Volkswagen (4.3 billion) and Deutsche Telekom (3.5 billion).

Dividends are important for investors as they make a significant contribution to total stock market returns. Dividends are paid after the Annual General Meetings, which are held mainly in the spring. Many Dax companies achieved record profits in 2022 despite expensive energy, high inflation and a weak economy./als/DP/nas