DAX Dividend Calendar: Facts & Dates of german stock market

A dividend calendar contains the stock corporations, whose ISIN, the to be expected dividend as well as the specific day of the annual stockholder meeting (ASM). The dividend-date is significant for the dividend cash-outflow as well as the stock purchase. Along with the dividend calendar stock buyers are able to strategically plan their investments into strong dividend papers ahead of time. In the long term, a frequent dividend cash-outflow can result in an above-average positive performance of the stock situation. Professional stockbrokers invest in correspondence to the dividend-strategy.

Annual Stockholder Meetings (ASM) 2017

*Erwartete Rendite (Prognose-Wert). Die tatsächliche Dividende wird am Tag der Hauptversammlung vorgeschlagen.

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In 2016 DAX organizations distributed dividends as high as 31 billion euros

The stockholders of the DAX organizations will in 2016, once again, partake in the profits of the stock organizations they are holding stocks with. In the following dividend-videos it will be explained, how an investor can place funds in correspondence to the dividend-strategy and how the dividend yield will assist in benefiting from the investment, in the long-run. 

Dividends & Annual Stockholder Meeting within the Dividend Calender (incl. Ex-Dividend day)

The DAX dividends calendar provides a tabulation of listed stocks, within the german leading share index DAX under the specification of the international cusip number ISIN, the to be expected dividend as well as the specific day of the annual stockholder meeting, at first glance. Stocks offer two ways to score revenue. On the one hand: positive yields can be achieved through price advances, on the other hand one can generate regular revenues through the dividend distribution. While the stock price can contain speculations that are going into a positive as well as negative direction, the dividend represents the actual profit share of a cooperation. It is a matter of dividend distribution – the legislative authority identifies it within the corporation law as dividends payable.

The dividend will be proposed by the board of directors and agreed on during the annual stockholder meeting. Usually, the dividend will be a distributed on the first day after the annual stockholder meeting. A dividend will be distributed to the stockholder, whom holds the stock in his depot on the last day before the ex-dividend day. In Germany, dividends will usually be distributed annually. The dividend yield results from the ratio between dividend and the current stock price. The dividend yield of the DAX stocks are approximately at 2-3%. If one considers merely the yield from a dividend distribution, one will detect that it lies above the yield of call money and fixed deposits, as the call money comparison shows. The dividend payout ratio of DAX organizations was at approximately 41% about 10 years ago. On the European scale even higher dividends were distributed, on average. About half of the corporate profits are distributed to the investors. Which corporations might be interesting for dividend oriented investors in 2016/17, can be gleaned from the clearly laid out stock exchange calendar. It enlists both the key data, relevant for trading, as well as the current dividend yield, which means the yield for a stock at today’s purchasing price including the distributed or rather the to be expected dividend it can score.

Scoring high Dividend Yields with the assistance of the Dividend Calendar

In 2016 German corporations will distribute dividends amounting approximately 31 billion Euros to their stockholders. 25 out of 30 plan to maximize their dividend, according to that. The profit distribution rate of German stocks will approximately be at 37%. This rate will be achieved, even though three organizations of the DAX won’t be distributing a dividend in 2016. The DAX heavyweights RWE and Deutsche Bank will discard their dividends. Volkswagen will most certainly only distribute a mini-dividend, due to their emission scandal. The Geman car company Daimler on the other hand will nearly distribute up to 3.5 billion Euros and is therefore reckoned as the strongest dividend distributor among the DAX. Besides the dividend-kings within the DAX, there are also stocks on the backbenches that can be very interesting and strong. One of those is the health group Fresenius, which is continuously increases its dividends since 23 years and running. After 25 years in a row, Fresenius would rise up into the premier league of the dividend distributors, which are mostly known from the American stock market environment. Besides Fresenius one should name the reinsurance company Münchener Rück,within the DAX, whom will most probably increase its dividend to 8.25 Euros (preceding year: 7.75 Euro). When one compares the dividend yield with interests, which one receives on call money, an investment into dividends seems to be more beneficial, considering yield aspects. The reason for this is that the current call money rate is at 1.10% (as of 09/2016) among the top rated call money banks. Consider the current call money comparison, which shows whichever bank offers the best conditions for call money.

The dividend calendar provides an overview over the dividend dates and dividend yields of German DAX corporations. Crucial are the dates for the annual stockholder meetings as well as the forecasted dividends.

The DAX is Booming. Will the Dividends follow accordingly in 2017?

The DAX (abbreviation for Deutscher Aktien Index / Germany stock market index) corporations stay on liquid funds in 2016/17 at a value of approximately 140 billion Euros. Due to the current interest rates, it is even more difficult for corporations to achieve positive interest yields. Some banks even rise penalty rates on deposits. We show which banks still provide positive interests in our call money comparison. For investors this might be of advantage, as the corporations will most probably decide to authorize dividend distributions as high as 31 billion Euros, during the annual stockholder meeting 2017.

Besides direct investments into singular german DAX titles, an investor can also invest into ETFs with the dividend strategy and therefore participate up to three times per year in the dividend distribution. With the stock market calendar you will always have the DAX dividend dates at a glance. Swiss stock can be viewed within the SMI dividend calendar 2017. A glance at the swiss floor is of great value, as for example the food product corporate group Nestlé is part of the most high-flying dividend stocks within Europe. Furthermore, Roche is a well-known dividend share of the Swiss SMI dividend calendar. The performance of the Nestlé stock is in comparison to other shares of the SMI remarkable. In 2015 the FMCG-Corporation increased its dividend for the nineteenth time and kept it equal in 2016.

As of July 20th, 2015 the PayPal Holding Inc. (WKN: A14R7U) was released from the eBay Inc. and quoted on the stock exchange with its distinct value. The PayPal IPO (ISIN: US70450Y1038) was carried out on July 20th, 2015 on Nasdaq in the state of New York.

What will be agreed on the day of the Annual Stockholder Meeting?

In Germany every stock corporation consists of three so called organs. That includes the management board, the supervisory board and the annual stockholders meeting. The annual stockholders meeting is a deciding organ and consists of all stockholders of the corresponding stock corporation. Also in different forms of legal organizations, like e.g clubs or associations, an assembly of all members will be called and annual stockholder meeting. Juridical, this isn’t correct though. If one wants to be very precise, one must call an assembly of all club members a general meeting and not an annual stockholder meeting. Within a GmbH (PLC – private limited company) and nonincorporated models, such an assembly is also not called an annual stockholder meeting but shareholders general meeting. Since 1937, the ASM can not give instructions to the managing board, as due to the current law, the ASM can only question the management, if the managing board asks for their involvement. Previous to 1937, the ASM had more legal rights. Today, the ASM still has many right, stated as follows: 

  • While the board of directors appoints the management board, the ASM is appointed to recall and order the members of the board of directors
  • Decisions concerning changes in the articles of association are made, especially in the area of corporate actions like a authorized capital, capital reduction, diverse capital increases etc.
  • Appointment of annual auditors, appointment of auditors for foundation transactions, as well as the management of the board of the directors
  • Appointment of special auditors
  • The ASM offers relief to board of directors and managing board
  • In case the board of directors and the managing board agree on it, the ASM is responsible of the declaration of the annual turnover. Otherwise, the ASM simply accepts the amount of the annual turnover, provided by the board of directors and the managing board
  • Decision on application of the accumulated profits
  • Transfer of company’s own assets
  • Annulment of the entire corporation
  • All other arrangements for the managements that affect the amendment of the statues

With the dividend calendar shows the day of the annual stockholder meeting as well as the to be expected dividend and the historical dividends. Investors can also view the current dividend yield.

Annual General Meeting (AGM) vs. Extraordinary General Meeting

During the annual general meeting the voting rights will be performed according to the equivalent shareholding and for stocks without par value according to their accurate number. The by-laws of an AG (public limited company) can direct a different rule though. For the vote during the annual general meeting, the simple majority counts, if there are no other predefinitions within the corresponding by-laws. Enactments concerning corporate liquidation or changes within the by-laws have to be voted for by at least three-fourths of stockholder’s equity, which is present during the time of the annual general meeting. The so called blocking minority is enough to prohibit such enactments.

Next to the annual general meeting there is also the so called extraordinary general meeting, which doesn’t take place on an annual basis but due to special occasions. Such occasions can be unexpected events like the acquisition, the dismissal of the board of directors or corporate actions. The management board call for an extraordinary general meeting in case of a blocking minority vote or due to its very own decision. Thereby, several extraordinary general meetings of one general corporation can take place, within just one year.

Stock Guide: How to Buy Stock at a Low Price

Stock purchase is mostly challenging for beginners when it comes to the questions of where to buy stock at a low price. Besides the classic chain store for stocks, a trend to by stock online is on the rise, since a couple of years now. The advantages and disadvantages for both are explained with the stock purchase guide. The dividend calendar is suitable for yield oriented investors, to check on the the DAX corporations are planning on distributing dividends and on how high they will be. Besides the dividend yield the date and also the place of the ASM are shown, since stockholders are eligible to participate in the annual stockholder meetings and therefore can plan accordingly.