Who benefits from the DAX: Most dividends go abroad

Status: 2022-09-23 09:56

DAX shareholders can expect record payouts this year. Foreign shareholders benefited the most. Because the DAX is more than 50 percent in foreign hands.

Despite crises, supply chain problems and war: 40 DAX companies managed to distribute almost 51 billion euros to their shareholders in the last financial year. Record amount: last year was 36 billion. According to a study by the consulting and auditing company EY, foreign investors especially benefited. Because the big German companies in the first league of the stock market are mostly in the hands of foreign investors.

According to information, in 2021 December 31 at least 53 percent of the securities of DAX companies were owned by foreign investors. Investors from Germany held just under 30 percent of the shares. According to EY, another 17 percent of the shares could not be transferred. Almost 27 billion euros in dividends later went abroad. EUR 18.3 billion flowed to domestic investors. The remaining amount cannot be precisely assigned.

Largest dividend payer: Mercedes Benz.

The biggest dividend payer this year was Mercedes-Benz. The car company distributed a total of 5.4 billion to shareholders. Of them, 3.5 billion euros went abroad. The largest shareholder of the Stuttgart-based carmaker is China’s BAIC Group, which owns ten percent of Mercedes Benz’s votes. It is followed by Chinese investor Li Shufu and Kuwait’s sovereign wealth fund, which has invested in Mercedes since 1974. The car manufacturer distributed 1.9 billion to investors from Germany.

Composition of investors: international

Allianz Group paid out the second-biggest dividend of a total of 4.4 billion euros, with a small share of 1.7 billion euros going to domestic investors as well, and 2.7 billion euros distributed by the German insurance giant to investors abroad.

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Henrik Ahlers, head of EY Germany, explains it this way: “Germany’s top corporations have become international heavyweights in the past. Now they generate more than half of their sales outside of Europe.” Therefore, it is logical that the increasing internationality of operational business is also reflected in the composition of shareholders.

Foreign pension funds use DAX

The stock culture of different countries can also play a role. Although Deutsches Aktieninstitut found that trust…

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