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Exploring Top Dividend Stocks In Germany For May 2024

As of May 2024, Germany's DAX index has experienced a slight downturn, reflecting cautious sentiment among investors due to mixed signals from the European Central Bank regarding future monetary policy adjustments. This backdrop underscores the importance of focusing on fundamentally strong dividend stocks, which can offer relative stability and potential income in an uncertain market environment.

Top 10 Dividend Stocks In Germany

Name

Dividend Yield

Dividend Rating

Allianz (XTRA:ALV)

5.18%

★★★★★★

Edel SE KGaA (XTRA:EDL)

6.30%

★★★★★★

Deutsche Post (XTRA:DHL)

4.73%

★★★★★★

MLP (XTRA:MLP)

4.82%

★★★★★☆

Deutsche Telekom (XTRA:DTE)

3.48%

★★★★★☆

FRoSTA (DB:NLM)

3.10%

★★★★★☆

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

6.06%

★★★★★☆

SAF-Holland (XTRA:SFQ)

4.99%

★★★★★☆

Mercedes-Benz Group (XTRA:MBG)

8.06%

★★★★★☆

Uzin Utz (XTRA:UZU)

3.23%

★★★★★☆

Click here to see the full list of 28 stocks from our Top Dividend Stocks screener.

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Below we spotlight a couple of our favorites from our exclusive screener.

Heidelberg Materials

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

Overview: Heidelberg Materials AG operates globally, producing and distributing cement, aggregates, ready-mixed concrete, and asphalt, with a market capitalization of approximately €17.73 billion.

Operations: Heidelberg Materials AG generates revenue through several key segments: €11.21 billion from cement, €4.88 billion from aggregates, and €5.90 billion from ready-mixed concrete and asphalt.

Dividend Yield: 3.1%

Heidelberg Materials AG, while trading at 51.4% below estimated fair value, shows a mixed dividend profile. Its dividends are well-covered by earnings and cash flows with payout ratios of 27.3% and 29.1%, respectively, suggesting sustainability from a financial perspective. However, its dividend yield of 3.08% is low compared to top German dividend payers at 4.65%, and its dividend history has been marked by volatility over the last decade, indicating potential reliability issues for consistent income-focused investors.

XTRA:HEI Dividend History as at May 2024
XTRA:HEI Dividend History as at May 2024

INDUS Holding

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

Overview: INDUS Holding AG is a private equity firm that specializes in mergers, acquisitions, and corporate spin-offs, with a market capitalization of approximately €0.74 billion.

Operations: INDUS Holding AG does not have detailed revenue segments provided in the available information.

Dividend Yield: 4.3%

INDUS Holding AG demonstrates a complex dividend profile. While the company's dividends are well-covered by both earnings and cash flows, with payout ratios of 47.1% and 21% respectively, its dividend history shows instability with significant volatility over the past decade. Despite this, dividends have grown over the same period. As of the latest reports, INDUS faces challenges with a decrease in net income and sales in Q1 2024 compared to the previous year, which could impact future dividend sustainability. The current yield stands at 4.34%, slightly below the top quartile of German dividend stocks at 4.65%.

XTRA:INH Dividend History as at May 2024
XTRA:INH Dividend History as at May 2024

Wacker Neuson

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

Overview: Wacker Neuson SE, with a market capitalization of €1.16 billion, operates globally in manufacturing and distributing light and compact equipment across Germany, Austria, the United States, and other international markets.

Operations: Wacker Neuson SE generates revenue through three primary segments: Services (€490 million), Light Equipment (€500.70 million), and Compact Equipment (€1.61 billion).

Dividend Yield: 6.7%

Wacker Neuson SE, despite a notable dip in Q1 2024 earnings with sales dropping to €593.1 million and net income falling to €23.3 million, maintains a competitive dividend yield at 6.75%, placing it among the top 25% of German dividend payers. The company's dividends, however, show signs of volatility and are not well covered by cash flows or free cash flows, raising concerns about sustainability despite a reasonable payout ratio of 53.4%. Trading at 35.2% below its estimated fair value suggests potential undervaluation relative to peers.

XTRA:WAC Dividend History as at May 2024
XTRA:WAC Dividend History as at May 2024

Taking Advantage

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Ready For A Different Approach?

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:HEIXTRA:INH XTRA:WAC and

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