Dividend
(CONDENSED, IN ACCORDANCE WITH THE GERMAN COMMERCIAL CODE)
Dividend policy
Volkswagen AG pursues a continuous dividend policy that allows shareholders to participate appropriately in the business success. Our dividend policy matches our financial strategy. The dividend proposed to the Annual General Meeting for the respective underlying year therefore reflects the financial management objectives – in particular, ensuring a solid financial foundation as part of the implementation of the corporate strategy.
We pursue the strategic goal of achieving a payout ratio of at least 30%. The payout ratio, which amounts to 39.2 (29.6)%, is based on the Group’s earnings after tax attributable to Volkswagen AG shareholders. The non-cash impairment loss on the goodwill allocated to the Porsche operating segment was not included in determining the assessment basis for the dividend payment in 2025. Adjusted for this effect, the payout ratio was 30.0% for the reporting year.
Dividend proposal
In fiscal year 2025, net retained profits amounted to €3.8 billion. The Board of Management is proposing to pay a total dividend of €2.6 billion, i.e. €5.20 per ordinary share and €5.26 per preferred share.
€ |
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2025 |
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Dividend payout on subscribed capital (€1,283 million) |
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2,619,107,694.30 |
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of which: |
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ordinary shares |
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1,534,467,053.60 |
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preferred shares |
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1,084,640,640.70 |
Appropriations in other retained earnings |
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1,135,000,000.00 |
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Balance (carried forward to new account) |
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458,566.69 |
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Net retained profits |
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3,754,566,260.99 |
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