Dividend Yield (TTM)
1.27%
vs 5Y avg 1.40% · 10Y avg 1.78%
Dividend Yield (Forward)
1.33%
4 payments/yr (spacing)
Dividends / Share (TTM)
€5.68
Forward (annualized): €5.95
Payout Ratio (EPS, TTM)
15.7%
Payout Ratio (FCF, TTM)
7.6%
Dividend CAGR (3Y / 5Y / 10Y)
3Y6.5%5Y9.2%10Y9.1%
Consecutive Growth Years
9
as of 2025
Years Without a Cut
9
as of 2025
Total Shareholder Yield (TTM)
7.81%
Div 1.21% + Net buyback 6.59%
Growth, streak and CAGR figures exclude special dividends.
Dividend history spans multiple declared currencies (USD, EUR); growth, streak and CAGR figures are computed in the listing currency (EUR), as the declared currency changed in 2010.
Dividends per share
Cash dividends, split-adjusted · EUR
Payout ratio
Dividends per share ÷ diluted EPS and ÷ free cash flow per share, by fiscal year.
Dividend yield
Trailing-twelve-month dividends ÷ month-end price.
Capital returns
Net buybacks = repurchases − stock issuance, fiscal-year cash flows. SBC shown for dilution context.
Total Shareholder Yield (TTM)
7.8%
Dividends 1.2% + Net buybacks 6.6%
Net Buyback (TTM)
€2.76B
Gross €2.76B − Issuance €0
SBC (TTM)
€170M
Share-based compensation, dilution driver
Net share-count change % / yr
Annual dividend growth
Dividend growth is decelerating (4.5% latest vs 13.0% 3-yr avg).
| Year | DPS (regular sum) | Change | Hikes | |
|---|---|---|---|---|
| 2025 | 5.60 | +4.5% | 2 | |
| 2024 | 5.36 | +9.4% | 3 | |
| 2023 | 4.89 | +5.5% | 2 | |
| 2022 | 4.64 | +24.0% | 3 | |
| 2021 | 3.74 | +3.8% | 3 | |
| 2020 | 3.60 | +5.6% | 3 | |
| 2019 | 3.41 | +13.5% | 4 | |
| 2018 | 3.01 | +42.1% | 3 | |
| 2017 | 2.11 | +55.0% | 2 | |
| 2016 | 1.36 | -41.6% | 2 | |
| 2015 | 2.34 | +37.1% | 2 | |
| 2014 | 1.70 | +12.6% | 3 | |
| 2013 | 1.51 | +35.4% | 1 | |
| 2012 | 1.12 | +79.5% | 4 | |
| 2011 | 0.6226 | +36.8% | 2 |
Special dividends are excluded from these figures. Based on 63 regular payments.
Payment history (63 payments)
| Δ% | Type | Frequency | Declaration | Record | Pay date | ||
|---|---|---|---|---|---|---|---|
| 2026-08-03 | $1.7 | +2.2% | Cash | quarterly | 2026-07-23 | 2026-08-03 | 2026-08-21 |
| 2026-05-04 | $1.7 | +7.5% | Cash | quarterly | 2026-04-23 | 2026-05-04 | 2026-05-22 |
| 2026-02-09 | $1.6 | -2.2% | Cash | quarterly | 2026-01-29 | 2026-02-09 | 2026-02-27 |
| 2025-11-10 | $1.6 | +0.7% | Cash | quarterly | 2025-10-30 | 2025-11-10 | 2025-11-24 |
| 2025-08-04 | $1.6 | -3.2% | Cash | quarterly | 2025-07-24 | 2025-08-04 | 2025-08-18 |
| 2025-05-05 | $1.6 | -0.1% | Cash | quarterly | 2025-04-24 | 2025-05-05 | 2025-05-19 |
| 2025-02-10 | $1.48 | +1.9% | Cash | quarterly | 2025-01-29 | 2025-02-10 | 2025-02-28 |
| 2024-11-04 | $1.48 | +3.9% | Cash | quarterly | 2024-10-23 | 2024-11-04 | 2024-11-15 |
| 2024-08-05 | $1.48 | -1.9% | Cash | quarterly | 2024-07-24 | 2024-08-05 | 2024-08-16 |
| 2024-05-03 | $1.48 | +9.4% | Cash | quarterly | 2024-04-22 | 2024-05-06 | 2024-05-17 |
| 2024-02-08 | $1.35 | +0.3% | Cash | quarterly | 2024-01-24 | 2024-02-09 | 2024-02-27 |
| 2023-11-03 | $1.35 | +0.8% | Cash | quarterly | 2023-10-25 | 2023-11-06 | 2023-11-17 |
| 2023-08-04 | $1.35 | -0.3% | Cash | quarterly | 2023-07-26 | 2023-08-07 | 2023-08-18 |
| 2023-05-05 | $1.35 | +6.4% | Cash | quarterly | 2023-04-24 | 2023-05-08 | 2023-05-19 |
| 2023-02-09 | $1.25 | -4.8% | Cash | quarterly | 2023-01-25 | 2023-02-10 | 2023-02-28 |
| 2022-11-04 | $1.25 | -0.6% | Cash | quarterly | 2022-10-25 | 2022-11-07 | 2022-11-18 |
| 2022-08-05 | $1.25 | +4.3% | Cash | quarterly | 2022-07-26 | 2022-08-08 | 2022-08-19 |
| 2022-05-06 | $1.25 | +18.8% | Cash | quarterly | 2022-04-25 | 2022-05-09 | 2022-05-20 |
| 2022-02-10 | $1.13 | +0.6% | Cash | quarterly | 2022-01-26 | 2022-02-11 | 2022-02-28 |
| 2021-11-05 | $1.13 | +3.1% | Cash | quarterly | 2021-10-26 | 2021-11-08 | 2021-11-19 |
| 2021-08-06 | $1.13 | +3.3% | Cash | quarterly | 2021-07-26 | 2021-08-09 | 2021-08-20 |
| 2021-05-07 | $1.13 | +8.1% | Cash | quarterly | 2021-04-26 | 2021-05-10 | 2021-05-21 |
| 2021-02-11 | $1.04 | -2.2% | Cash | quarterly | 2021-01-27 | 2021-02-12 | 2021-02-26 |
| 2020-11-06 | $1.04 | +0.1% | Cash | quarterly | 2020-10-28 | 2020-11-09 | 2020-11-20 |
| 2020-08-07 | $1.04 | -7.9% | Cash | quarterly | 2020-07-29 | 2020-08-10 | 2020-08-21 |
| 2020-05-15 | $1.04 | +7.2% | Cash | quarterly | 2020-05-06 | 2020-05-18 | 2020-05-29 |
| 2020-02-13 | $0.97 | +1.3% | Cash | quarterly | 2020-01-29 | 2020-02-14 | 2020-02-28 |
| 2019-11-01 | $0.97 | +0.7% | Cash | quarterly | 2019-10-23 | 2019-11-04 | 2019-11-15 |
| 2019-08-02 | $0.97 | +0.6% | Cash | quarterly | 2019-07-24 | 2019-08-05 | 2019-08-16 |
| 2019-05-03 | $0.97 | +9.4% | Cash | quarterly | 2019-04-24 | 2019-05-06 | 2019-05-17 |
| 2019-02-14 | $0.9 | +0.1% | Cash | quarterly | 2019-01-30 | 2019-02-15 | 2019-02-28 |
| 2018-11-02 | $0.9 | +1.6% | Cash | quarterly | 2018-10-23 | 2018-11-05 | 2018-11-16 |
| 2018-08-03 | $0.9 | +2.4% | Cash | quarterly | 2018-07-24 | 2018-08-06 | 2018-08-17 |
| 2018-05-04 | $0.9 | +13.3% | Cash | quarterly | 2018-04-23 | 2018-05-07 | 2018-05-18 |
| 2018-02-15 | $0.83 | -4.9% | Cash | quarterly | 2018-01-24 | 2018-02-16 | 2018-02-28 |
| 2017-11-03 | $0.83 | +0.6% | Cash | quarterly | 2017-10-25 | 2017-11-06 | 2017-11-17 |
| 2017-08-03 | $0.83 | -0.2% | Cash | quarterly | 2017-07-25 | 2017-08-07 | 2017-08-18 |
| 2017-02-09 | $0.75 | +1.3% | Cash | quarterly | 2017-02-01 | 2017-02-13 | 2017-02-28 |
| 2016-11-03 | $0.75 | +3.9% | Cash | quarterly | 2016-10-25 | 2016-11-07 | 2016-11-18 |
| 2016-08-04 | $0.75 | +12.1% | Cash | quarterly | 2016-07-26 | 2016-08-08 | 2016-08-19 |
| 2015-10-29 | $0.67 | -2.0% | Cash | quarterly | 2015-10-22 | 2015-11-02 | 2015-11-13 |
| 2015-07-30 | $0.67 | -1.6% | Cash | quarterly | 2015-07-22 | 2015-08-03 | 2015-08-14 |
| 2015-04-30 | $0.67 | +21.2% | Cash | quarterly | 2015-04-22 | 2015-05-04 | 2015-05-15 |
| 2015-02-05 | $0.58 | +9.9% | Cash | quarterly | 2015-01-28 | 2015-02-09 | 2015-02-27 |
| 2014-11-06 | $0.58 | +6.8% | Cash | quarterly | 2014-10-27 | 2014-11-10 | 2014-11-21 |
| 2014-08-07 | $0.58 | +3.2% | Cash | quarterly | 2014-07-29 | 2014-08-11 | 2014-08-22 |
| 2014-05-07 | $0.58 | +10.9% | Cash | quarterly | 2014-04-28 | 2014-05-09 | 2014-05-23 |
| 2014-02-12 | $0.52 | -1.2% | Cash | quarterly | 2014-02-04 | 2014-02-14 | 2014-02-28 |
| 2013-11-07 | $0.52 | -1.3% | Cash | quarterly | 2013-10-28 | 2013-11-12 | 2013-11-22 |
| 2013-08-01 | $0.52 | -2.5% | Cash | quarterly | 2013-07-24 | 2013-08-05 | 2013-08-16 |
| 2013-05-02 | $0.52 | +18.8% | Cash | quarterly | 2013-04-22 | 2013-05-06 | 2013-05-17 |
| 2013-02-07 | $0.45 | -3.9% | Cash | quarterly | 2013-01-31 | 2013-02-11 | 2013-02-22 |
| 2012-11-01 | $0.45 | +24.3% | Cash | quarterly | 2012-10-24 | 2012-11-05 | 2012-11-16 |
| 2012-08-01 | $0.35 | +3.2% | Cash | quarterly | 2012-07-26 | 2012-08-03 | 2012-08-17 |
| 2012-05-02 | $0.35 | +29.3% | Cash | quarterly | 2012-04-24 | 2012-05-04 | 2012-05-18 |
| 2012-02-08 | $0.28 | +24.5% | Cash | quarterly | 2011-12-08 | 2012-02-10 | 2012-02-24 |
| 2011-11-02 | $0.23 | +5.7% | Cash | quarterly | 2011-10-25 | 2011-11-04 | 2011-11-18 |
| 2011-08-03 | $0.23 | 0.0% | Cash | quarterly | 2011-07-27 | 2011-08-05 | 2011-08-19 |
| 2011-05-04 | $0.23 | +21.8% | Cash | quarterly | 2011-04-26 | 2011-05-06 | 2011-05-20 |
| 2011-02-09 | $0.18 | 0.0% | Cash | quarterly | 2011-02-03 | 2011-02-11 | 2011-02-25 |
| 2010-11-04 | $0.18 | -26.8% | Cash | quarterly | 2010-10-28 | 2010-11-08 | 2010-11-22 |
| 2010-08-04 | EUR 0.18 | +25.6% | Cash | quarterly | 2010-06-25 | 2010-08-02 | - |
| 2010-05-05 | $0.18 | – | Cash | quarterly | 2010-03-26 | 2010-05-03 | - |
Amounts are in the declared currency; the listing currency is EUR.
No splits on record.