Important notice re DAX dividends

Ahead of the main dividend paying season in the stocks making up the Germany 30, our LPs are introducing a reverse dividend mechanism to ensure the index tracks the underlying basket of stocks more accurately. Whilst the Germany 30 is a total reinvestment index, the underlying stocks have withholding tax charges on any dividends paid. To ensure the index accurately tracks the basket of stocks, our LPs are introducing a withholding tax reverse dividend which will be 14% of the underlying dividend.

This means that:

  • Where you are short for GDAXI, you will receive a reverse dividend credit to your account of 14% of the dividend paid.
  • Conversely, where you are long for GDAXI, you will be charged a reverse dividend debit of 14% of the underlying dividend paid.

You should be aware that the majority of dividends are paid out in May every year where the reverse dividend process will be most prevalent.

As always, at we’ll be glad to assist you with any question you may have!


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