Europe’s Biggest Dividend Increases and Surprises of 2025
From record hikes at Kongsberg and Rheinmetall to surprising dividend growth at Hannover Re – discover the trends and opportunities for dividend investors.
With all annual reports in, the European ex-dividend season is set to start in full force by the end of March. April and May will see the majority of European stocks going ex-dividend, as most companies in the region distribute dividends once per year. Some companies pay twice a year, while quarterly dividends remain rare.
Main Topics to Look Out For in this post:
🚀 Record Dividend Hikes in Europe in 2025
💥 Unexpected Dividend Surprises
⏳ Early Movers in the Dividend Calendar
🔥 Sector-Wise Dividend Trends
🛡️ Explosive Growth in the Defense Sector
🚗 Mixed Signals from the Automotive Industry
💊 Stability Among Pharmaceutical Giants
📈 Consistent Dividend Growth in Insurance
2025 is shaping up to be an exciting year for dividend investors in Europe. With record-breaking hikes like Kongsberg’s 43% increase and an unexpected 17% growth at Hannover Re, there are plenty of opportunities for those seeking reliable income.
While major names like Munich Re are grabbing attention, it's clear that smaller companies are also delivering strong performances, especially when it comes to dividend increases. In this update, we dive into the key dividend changes for this year, highlighting the most notable early movers, surprises in the pharmaceutical sector, and the leaders in insurance and defense. Keep reading to uncover where the opportunities lie for yield-focused investors!
Notable Dividend Adjustments in Europe for 2025
Early Movers in the Dividend Calendar (based on ex-date)
Sika (March 27) kicks off the dividend season for dividend-focused portfolios. This Swiss company specializes in construction chemicals and is known for its strong dividend growth track record.
Ebro Foods (March 28): One of our Focus stocks in 2024, going ex-dividend for €0.23 per share; current dividend yield at 4.1%. Stock is up +6% YTD at €16.82.
Novo Nordisk (March 28): Ex-dividend for DKK 7.90 per share; yield now 2.2% at DKK 502. The stock is down nearly 20% in 2025 and is no longer Europe's largest company—our Focus Stock SAP, tipped in 2024, now holds that position.
Roche (March 27): The Swiss pharma giant has a yield of 3.2%. Roche is a Dividend Aristocrat with more than 25 consecutive years of increased dividends, just like Novo Nordisk. Novo is one of the European Dividend Heroes for many years now.
Randstad (March 28): The Dutch employment services giant trades ex-dividend with a yield of 4%, though the dividend has been reduced by 29% in 2025.
ABB (March 31, CH): Another Swiss company trading ex-dividend within a couple of days with a yield of 1.8% and a strong dividend growth track record.
Biggest Dividend Increases/Surprises
Kongsberg: Our recent Focus Stock, Kongsberg, increases its dividend by 43% this year to NOK 10 per share and announces a special dividend of NOK 12. Yield now 1.4%. The stock is up +24% YTD, reaching an all-time high today at NOK 1587. Kongsberg was our Focus stock just last month when it traded at NOK 1153.
Munich Re: Increases its dividend by 33.3% to a new record, with a yield of 3.4% at a share price of €588. The stock is up +20% YTD. Munich Re was highlighted several times on dividendhike.com because of its crazy dividend growth track record.
Hannover Re: Everyone’s talking about Munich Re, but Hannover Re, a smaller German reinsurance company (market cap €33 billion vs. €78 billion for Munich Re), is also performing excellently. The stock has reached an all-time high, up +15% this year. Hannover Re announced a €9 dividend (up from €7.20 last year), a 17% increase. The regular dividend is €7, with an additional