Dividend Yield (TTM)
0.33%
vs 5Y avg 0.48% · 10Y avg 0.74%
Dividend Yield (Forward)
0.37%
4 payments/yr (spacing)
Dividends / Share (TTM)
€2.94
Forward (annualized): €3.26
Payout Ratio (EPS, TTM)
8.8%
Payout Ratio (FCF, TTM)
6.6%
Dividend CAGR (3Y / 5Y / 10Y)
3Y11.6%5Y12.8%10Y14.6%
Consecutive Growth Years
10
as of 2025
Years Without a Cut
10
as of 2025
Total Shareholder Yield (TTM)
6.98%
Div 0.39% + 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.
Statement cash flows converted from the reporting currency at each fiscal year's average rate (vendor forex_rate).
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)
7.0%
Dividends 0.4% + Net buybacks 6.6%
Net Buyback (TTM)
€5.71B
Gross €5.78B − Issuance €77M
SBC (TTM)
€0
Share-based compensation, dilution driver
Net share-count change % / yr
Annual dividend growth
Dividend growth is decelerating (8.0% latest vs 18.1% 3-yr avg).
| Year | DPS (regular sum) | Change | Hikes | |
|---|---|---|---|---|
| 2025 | 2.67 | +8.0% | 2 | |
| 2024 | 2.47 | +15.4% | 4 | |
| 2023 | 2.14 | +11.5% | 2 | |
| 2022 | 1.92 | +27.3% | 3 | |
| 2021 | 1.51 | +3.2% | 2 | |
| 2020 | 1.46 | +2.1% | 2 | |
| 2019 | 1.43 | +15.1% | 4 | |
| 2018 | 1.24 | +14.1% | 3 | |
| 2017 | 1.09 | +7.8% | 3 | |
| 2016 | 1.01 | +47.3% | 2 | |
| 2015 | 0.6862 | -5.4% | 3 | |
| 2014 | 0.725 | -13.7% | 3 | |
| 2013 | 0.8397 | +33.8% | 2 | |
| 2012 | 0.6274 | +12.5% | 3 | |
| 2011 | 0.5578 | +21.5% | 3 |
Special dividends are excluded from these figures. Based on 66 regular payments.
Payment history (66 payments)
| Δ% | Type | Frequency | Declaration | Record | Pay date | ||
|---|---|---|---|---|---|---|---|
| 2026-09-01 | $0.94 | +14.6% | Cash | quarterly | 2026-07-22 | 2026-09-01 | 2026-10-01 |
| 2026-06-01 | $0.82 | +0.3% | Cash | quarterly | 2026-04-21 | 2026-06-01 | 2026-07-01 |
| 2026-03-02 | $0.82 | +1.3% | Cash | quarterly | 2026-01-28 | 2026-03-02 | 2026-04-01 |
| 2025-12-01 | $0.82 | +0.2% | Cash | quarterly | 2025-10-30 | 2025-12-01 | 2026-01-02 |
| 2025-09-02 | $0.82 | +13.5% | Cash | quarterly | 2025-07-30 | 2025-09-02 | 2025-10-01 |
| 2025-06-02 | $0.71 | -6.3% | Cash | quarterly | 2025-05-01 | 2025-06-02 | 2025-07-01 |
| 2025-03-03 | $0.71 | -3.1% | Cash | quarterly | 2025-01-30 | 2025-03-03 | 2025-04-01 |
| 2024-12-02 | $0.71 | +5.3% | Cash | quarterly | 2024-10-31 | 2024-12-02 | 2025-01-02 |
| 2024-08-30 | $0.71 | +11.8% | Cash | quarterly | 2024-08-01 | 2024-09-02 | 2024-10-01 |
| 2024-06-03 | $0.62 | +0.2% | Cash | quarterly | 2024-04-23 | 2024-06-03 | 2024-07-01 |
| 2024-02-29 | $0.62 | +0.3% | Cash | quarterly | 2024-02-01 | 2024-03-01 | 2024-04-01 |
| 2023-11-30 | $0.62 | +0.8% | Cash | quarterly | 2023-10-25 | 2023-12-01 | 2024-01-02 |
| 2023-08-31 | $0.62 | +14.4% | Cash | quarterly | 2023-07-21 | 2023-09-01 | 2023-10-02 |
| 2023-05-31 | $0.54 | -1.5% | Cash | quarterly | 2023-04-26 | 2023-06-01 | 2023-07-03 |
| 2023-02-28 | $0.54 | -4.8% | Cash | quarterly | 2023-01-25 | 2023-03-01 | 2023-04-03 |
| 2022-11-30 | $0.54 | -0.6% | Cash | quarterly | 2022-10-26 | 2022-12-01 | 2023-01-03 |
| 2022-08-31 | $0.54 | +19.9% | Cash | quarterly | 2022-07-22 | 2022-09-01 | 2022-10-03 |
| 2022-05-31 | $0.47 | +7.4% | Cash | quarterly | 2022-04-28 | 2022-06-01 | 2022-07-01 |
| 2022-02-28 | $0.47 | +0.6% | Cash | quarterly | 2022-01-27 | 2022-03-01 | 2022-04-01 |
| 2021-11-30 | $0.47 | +3.1% | Cash | quarterly | 2021-10-28 | 2021-12-01 | 2022-01-03 |
| 2021-08-31 | $0.47 | +15.6% | Cash | quarterly | 2021-07-26 | 2021-09-01 | 2021-10-01 |
| 2021-05-28 | $0.42 | -2.0% | Cash | quarterly | 2021-04-29 | 2021-06-01 | 2021-07-01 |
| 2021-03-01 | $0.42 | -0.7% | Cash | quarterly | 2021-01-28 | 2021-03-02 | 2021-04-01 |
| 2020-11-30 | $0.42 | +0.1% | Cash | quarterly | 2020-10-29 | 2020-12-01 | 2021-01-04 |
| 2020-08-31 | $0.42 | -5.6% | Cash | quarterly | 2020-07-29 | 2020-09-01 | 2020-10-01 |
| 2020-05-29 | $0.41 | 0.0% | Cash | quarterly | 2020-04-29 | 2020-06-01 | 2020-07-01 |
| 2020-02-28 | $0.41 | +1.3% | Cash | quarterly | 2020-01-28 | 2020-03-02 | 2020-04-01 |
| 2019-11-29 | $0.41 | +0.7% | Cash | quarterly | 2019-10-23 | 2019-12-02 | 2020-01-02 |
| 2019-08-30 | $0.41 | +5.7% | Cash | quarterly | 2019-07-31 | 2019-09-03 | 2019-10-01 |
| 2019-05-31 | $0.39 | +1.5% | Cash | quarterly | 2019-04-24 | 2019-06-03 | 2019-07-01 |
| 2019-02-28 | $0.39 | +0.1% | Cash | quarterly | 2019-01-31 | 2019-03-01 | 2019-04-01 |
| 2018-11-30 | $0.39 | +1.6% | Cash | quarterly | 2018-10-25 | 2018-12-03 | 2019-01-02 |
| 2018-08-31 | $0.39 | +17.4% | Cash | quarterly | 2018-07-27 | 2018-09-04 | 2018-10-01 |
| 2018-05-31 | $0.34 | +4.4% | Cash | quarterly | 2018-04-26 | 2018-06-01 | 2018-07-02 |
| 2018-02-28 | $0.34 | -4.9% | Cash | quarterly | 2018-02-02 | 2018-03-01 | 2018-04-02 |
| 2017-11-30 | $0.34 | +0.6% | Cash | quarterly | 2017-10-26 | 2017-12-01 | 2018-01-02 |
| 2017-08-30 | $0.34 | +15.6% | Cash | quarterly | 2017-07-26 | 2017-09-01 | 2017-10-02 |
| 2017-06-01 | $0.28 | -5.2% | Cash | quarterly | 2017-05-24 | 2017-06-05 | 2017-07-03 |
| 2017-02-27 | $0.28 | +1.3% | Cash | quarterly | 2017-01-25 | 2017-03-01 | 2017-04-03 |
| 2016-11-29 | $0.28 | +3.9% | Cash | quarterly | 2016-10-27 | 2016-12-01 | 2017-01-02 |
| 2016-08-30 | $0.28 | +0.2% | Cash | quarterly | 2016-07-26 | 2016-09-01 | 2016-10-03 |
| 2016-06-02 | $0.28 | -1.3% | Cash | quarterly | 2016-05-26 | 2016-06-06 | 2016-07-01 |
| 2016-02-26 | $0.28 | -3.2% | Cash | quarterly | 2016-01-27 | 2016-03-01 | 2016-04-01 |
| 2015-11-27 | $0.28 | +22.0% | Cash | quarterly | 2015-10-30 | 2015-12-01 | 2016-01-04 |
| 2015-06-04 | $0.24 | +1.1% | Cash | quarterly | 2015-05-27 | 2015-06-08 | 2015-07-01 |
| 2015-02-26 | $0.24 | +9.9% | Cash | quarterly | 2015-02-11 | 2015-03-02 | 2015-04-01 |
| 2014-11-26 | $0.24 | +6.8% | Cash | quarterly | 2014-10-21 | 2014-12-01 | 2015-01-02 |
| 2014-08-28 | $0.24 | +2.0% | Cash | quarterly | 2014-07-30 | 2014-09-02 | 2014-10-01 |
| 2014-06-05 | $0.24 | +0.5% | Cash | quarterly | 2014-05-28 | 2014-06-09 | 2014-07-01 |
| 2014-02-27 | $0.24 | -1.2% | Cash | quarterly | 2014-01-29 | 2014-03-03 | 2014-04-01 |
| 2013-11-27 | $0.24 | -1.3% | Cash | quarterly | 2013-10-25 | 2013-12-02 | 2014-01-02 |
| 2013-08-30 | $0.24 | 0.0% | Cash | quarterly | 2013-07-25 | 2013-09-03 | 2013-10-01 |
| 2013-08-29 | $0.24 | +18.9% | Cash | quarterly | 2013-07-25 | 2013-09-03 | 2013-10-01 |
| 2013-06-05 | $0.2 | +1.2% | Cash | quarterly | 2013-05-22 | 2013-06-07 | 2013-07-01 |
| 2013-02-27 | $0.2 | -3.9% | Cash | quarterly | 2013-01-30 | 2013-03-01 | 2013-04-01 |
| 2012-11-29 | $0.2 | -3.3% | Cash | quarterly | 2012-10-26 | 2012-12-03 | 2013-01-02 |
| 2012-08-30 | $0.2 | +1.1% | Cash | quarterly | 2012-07-26 | 2012-09-04 | 2012-10-01 |
| 2012-06-06 | $0.2 | +5.6% | Cash | quarterly | 2012-05-24 | 2012-06-08 | 2012-07-02 |
| 2012-02-28 | $0.2 | +2.3% | Cash | quarterly | 2012-01-26 | 2012-03-01 | 2012-04-02 |
| 2011-11-29 | $0.2 | +5.7% | Cash | quarterly | 2011-10-29 | 2011-12-01 | 2012-01-03 |
| 2011-08-30 | $0.2 | +0.6% | Cash | quarterly | 2011-07-28 | 2011-09-01 | 2011-10-03 |
| 2011-06-08 | $0.2 | +5.3% | Cash | quarterly | 2011-05-26 | 2011-06-10 | 2011-07-01 |
| 2011-02-25 | $0.18 | 0.0% | Cash | quarterly | 2011-01-27 | 2011-03-01 | 2011-04-01 |
| 2010-11-29 | $0.18 | -26.8% | Cash | quarterly | 2010-10-30 | 2010-12-01 | 2011-01-03 |
| 2010-08-30 | EUR 0.18 | +22.2% | Cash | quarterly | 2010-07-21 | 2010-08-26 | - |
| 2010-06-08 | $0.18 | – | Cash | quarterly | 2010-04-29 | 2010-06-04 | - |
Amounts are in the declared currency; the listing currency is EUR.
No splits on record.