Picture Leading European Telco

Reasons to invest

An attractive dividend, the Group's competitiveness and strong market positions are good reasons to invest in Deutsche Telekom shares.

The proposed dividend for the fiscal year 2023 is 0.77€, an increase of +10% versus the dividend for FY2022 of 0.70€. The dividend will be paid out on April 15, 2024.

  • High reliability: With a payout ratio of between 40 and 60 percent of the adjusted earnings per share (EPS), the sustainability of the dividend is ensured.
  • Dividend growth: 40 to 60 percent of the adjusted EPS will be payed out as dividend per share and the adjusted EPS is expected to grow to more than 1.75 € in 2024. 
  • Tax-free payout: The dividend for the 2022 financial year was paid out without deduction of the German capital gains tax. As the dividend is to be paid in full from the tax contribution account in accordance with § 27 of the Corporation Tax Act (Körperschaftsteuergesetz– KStG), payment will be made without deducting capital gains tax or the solidarity surcharge. Dividends paid to shareholders in Germany are not subject to taxation. Dividends do not entail tax refunds or tax credits. In the German tax authorities’ view the dividend payment reduces the acquisition costs of the shares for tax purposes. Out of today’s perspective the dividend payment from the tax contribution account in accordance with § 27 will continue over the next years.
  • Revenue: Growing – by an annual average rate of +1 to +2% from 2020 to 2024.
  • Indirect Cost base: Falling – not only in terms of the ratio of costs to revenue, but also in absolute terms in the ex-US part of our business (€ -1.2 billion 2020 vs 2024). The exception is the United States, where the business is growing strongly.
  • Adjusted EBITDA: Growing – by an annual average rate of +3 to +5% from 2020 to 2024.
  • Free cash flow: Growing to more than 18bn in 2024.
  • Adjusted earnings per share: Growing to more than 1.75€ per share in 2024.
  • Continuous investment in core business: round € 8.2 billion in 2024.
  • You can find all further information on the outlook here.
  • Germany: Excellent positioning in the domestic market as an integrated provider of fixed-network and mobile services. Winner of all major quality awards. With Magenta1, Deutsche Telekom offers attractive packages combining mobile and fixed-network services.
  • United States: After the successful merger of T-Mobile USA with the US wireless operator Sprint, the success story is set to continue on an even elevated level. The rapid rollout of a nationwide 5G network will provide an excellent competitive advantage. The synergies of the merger will increase the profitability significantly. 
  • Key European markets: Strong market positions in combination with a clear strategy.
  • High stability and strong resilience in times of crisis: more than 200 million customers, long term purchase agreements, solid financing and transatlantic footprint (>60% of the 2022 EBITDA from USA)
  • Attractive returns for equity providers.
  • Clear path to return into the defined comfort zone after the merger of T-Mobile US and Sprint. Fully funded for more than 24 months. Maturity profile with no concentration of credit risk.
  • You can find all further information on the finance strategy here.

DT Investor Presentation

Symbolbild Datenschutz mit Tablet PC und Diagrammen

Analysts + Target Prices

Analyst views on Deutsche Telekom AG can be obtained directly from common financial portals on the Internet.

Picture Consensus

Consensus: What analysts expect

Once a quarter Deutsche Telekom compiles a consensus for the then upcoming results and future years.

Latest Investor Relations publications

The next Investor Relations events in detail

Your Contact

You have questions about the Telekom Share, financial reports or similar topics? Contact us!

Picture Contact

Investor Relations

Deutsche Telekom



Friedrich-Ebert-Allee 140, 53113 Bonn

Picture Hannes Wittig

Hannes Wittig

Head of Investor Relations Deutsche Telekom (Senior Vice President)



Friedrich-Ebert-Allee 140, 53113 Bonn

Picture Christoph Greitemann

Christoph Greitemann

Senior IR Manager



Friedrich-Ebert-Allee 140, 53113 Bonn

Picture Andreas Puy

Andreas Puy

Vice President Investor Relations



Friedrich-Ebert-Allee 140, 53113 Bonn

Picture Thomas Ris

Thomas Ris

Vice President Investor Relations



Friedrich-Ebert-Allee 140, 53113 Bonn

Picture Peer Roßbach

Peer Roßbach

Senior IR Manager



Friedrich-Ebert-Allee 140, 53113 Bonn

Picture Markus Schäfer

Markus Schäfer

Vice President Debt Capital Markets



Friedrich-Ebert-Allee 140, 53113 Bonn

Picture Galina Zhiltsova

Galina Zhiltsova

Debt Capital Markets



Friedrich-Ebert-Allee 140, 53113 Bonn

Picture Renate Pohler

Renate Pohler

IR Manager Retail Investors & Annual General Meeting



Friedrich-Ebert-Allee 140, 53113 Bonn

Picture Simone Schlief

Simone Schlief

Senior Expert IR Focus ESG



Friedrich-Ebert-Allee 140, 53113 Bonn

Logo T-Mobile US

T-Mobile US, Inc.



Five Newport, 12920 SE 38th St, Bellevue, WA,


OTE Investor Relations Department



Ikarou & Agiou Louka St. 1, 19 002 Paiania - Attica

Logo Magyar

Magyar Telekom Plc.



1541 Budapest

Logo T-Hrvatski

Hrvatski Telekom d.d. / Croatian Telecom Inc.



Radnička cesta 21, 10000 Zagreb