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  • Dividend policy
  • Dividend history
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Dividendenzeitplan Hauptversammlung 2020

Dividend for fiscal year 2019

The Annual General Meeting on May 6, 2020, decided a dividend for fiscal 2019 of 9.60 euros (previous year: 9.00 euros).


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  • Dividend proposal
    (announced at the Annual Results Media Conference)
  • Dividend resolution by Annual General Meeting
  • Dividend entitlement date
  • Ex-dividend quotation
  • Dividend pay-out (valuta)1
1 Aiming at a harmonization of securities settlements within Europe, the German legislator revised the due date for dividend payments effective from January 1, 2017. In accordance with the newly worded § 58 (4) AktG, the entitlement to dividends shall not fall due on the day following the Annual General Meeting, as has been the case earlier, but on the third business day following the Annual General Meeting.

Dividend confirmed despite corona crisis

While it can be expected that recent events will have an impact on us, our financial position remains very strong.  We have given careful consideration to statements issued by the European Insurance and Occupational Pensions Authority (EIOPA) and the Federal Financial Supervisory Authority (BaFin) over the recent days with respect to dividend payments and share buy-backs.  Management is also cognizant of the fact that many of our 700,000 retail shareholders (as of May 6, 2020, day of the Annual General Meeting) as well as many pension funds and other institutional investors rely on our dividend as an important part of their income. Therefore, after having considered and weighed up all arguments, the Board of Management has decided to confirm its intention to propose a dividend of 9.60 euros per share for the financial year 2019 to this year’s Annual General Meeting (AGM). 

Nevertheless, in light of the current situation the Board of Management has decided to suspend the second 750 mn euros tranche of our ongoing share buy-back program. We will consider the appropriateness of this tranche when the financial and economic impact of the COVID-19 pandemic starts to become clearer.

IR Release as of 04/06/2020

Dividend policy with pay-out ratio of 50 percent

We strive to offer attractive dividends to our shareholders. The framework for this is determined by our net income and the need for an adequate capitalization.

  • Regular pay-out is 50% of Allianz Group net income (attributable to shareholders).
  • In the interest of dividend continuity, the objective is to keep the dividend per share at least at the level paid in the previous year.
  • In addition, Allianz returns capital to its shareholders on a flexible basis.
     Share buy-back
  • The dividend policy is subject to a sustainable Solvency II ratio above 160%.
     Key indicators

Please note: This dividend policy represents the current intention of the Board of Management and the Supervisory Board and may be revised in the future. Also, the dividend payment in any given year is subject to specific dividend proposals by the Board of Management and the Supervisory Board, each of which may elect to deviate from this dividend policy if appropriate under the then prevailing circumstances, as well as to the decision of the Annual General Meeting.

Dividend history

Allianz - Dividend per share and total dividend since 2006
As of May 6, 2020 (Annual General Meeting)

Taxation of the dividend for shareholders living abroad

In Germany a capital gains tax is levied on dividends and certain other capital income. Due to various international regulations, a full or partial relief from the capital gains tax is possible for individual shareholders living abroad under certain prerequisits.

Paying Agent

Paying Agent for shareholders: Commerzbank AG, 60261 Frankfurt/Main. Paying Agents for bondholders are indicated in the relevant terms and conditions which can be found here.


Frequently asked questions on the dividend.