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Dividendenzeitplan Hauptversammlung 2020

Dividend for fiscal year 2019

The Board of Management and the Supervisory Board will propose a dividend of 9.60 euros to the Annual General Meeting on May 6, 2020 (previous year: 9.00 euros).

Coronavirus Spread Notice

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 650,000 retail shareholders 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


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02/21/2020 Dividend proposal
(announced at the Annual Results Media Conference)
05/06/2020 Dividend resolution by Annual General Meeting
05/06/2020 Dividend entitlement date
05/07/2020 Ex-dividend quotation
05/11/2020 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 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 February 21, 2020 (release of the preliminary results for fiscal year 2019)

1 Proposal.

2 The total dividend also includes treasury shares held directly or indirectly by the company as of December 31, 2019 that are not entitled to the dividend pursuant to § 71b of the German Stock Corporation Act (AktG). Should there be any change in the number of shares entitled to the dividend by the date of the Annual General Meeting, the total dividend will be amended accordingly.

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.