Infineon dividend: payout, cash cover and yield
MyStockButler's October 2026 analysis: Infineon’s latest payment was €0.35 per share, unchanged for three years, and its stated policy favors maintaining it during weaker earnings. Cash coverage is mixed: Infineon paid shareholders through dividends and retained most of its free cash flow across FY2021–FY2025, but dividends exceeded that year’s free cash flow in FY2024.
How much does Infineon pay shareholders per share?
Across FY2021–FY2025, Infineon paid shareholders through dividends, not share buybacks, and retained most of its free cash flow. In FY2024, dividends exceeded that year’s free cash flow, which preserved the payout but left less cash for investment or debt reduction.
| Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 | |
|---|---|---|---|---|---|
| − Dividends paid, per share | 0.35 | 0.35 | 0.32 | 0.27 | 0.22 |
| − Share buybacks, per share | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| = FCF not paid out, per share | 0.67 | 0.55 | 1.14 | 1.10 | |
| = Paid out more than FCF, per share | 0.14 |
What this means. The company's own free cash flow per share is negative because it includes acquisitions and intangible purchases, while our count subtracts only equipment spending; after employee share pay, ours is €0.88 per share.
How much would Infineon's dividend pay you?
€10,000 invested in Infineon at its 0.7% dividend yield (our report of October 27, 2026) pays €70.00 in the first year, before tax. If its dividend per share keeps changing 12.3% a year, as it did from Sep 2021 to Sep 2025, and the dividends are reinvested, year 10 pays €220.81, with €1,318.27 received in all.
Before tax. Past dividend growth is not a promise. Information only, not investment advice.
Does Infineon’s cash cover its dividend?
| Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 | |
|---|---|---|---|---|---|
| Free cash flow | 1,332 | 274 | 1,135 | 1,843 | 1,721 |
| − Dividends paid | 455 | 456 | 417 | 351 | 286 |
| − Share buybacks | 0 | 0 | 0 | 0 | 0 |
| = Free cash flow not paid out | 877 | 718 | 1,492 | 1,435 | |
| = Paid out more than the free cash flow | 182 | ||||
| Paid out, % of free cash flow | 34.2% | 166.4% | 36.7% | 19.0% | 16.6% |
What this means. The company's own net cash is shown as a negative number, which means it has more debt than cash, just like our positive net debt figure.
What could change Infineon’s dividend?
Dividends follow a cautious recovery. The base case keeps €0.35 in the first window and raises it to €0.36 in the second. It reaches €0.38 in the last window. The bear case holds at €0.30, while the bull case reaches €0.46. The latest payment was €0.35, unchanged for three years, and the stated policy favors maintaining it during weaker earnings. The payout also looks modest against the €2.84427 analyst EPS estimate.
Through FY2027–FY2029, persistent investment and idle costs would weaken free cash flow and valuation. Conversely, repeat AI orders, falling idle costs and profitable SiC and GaN shipments would support the bull case.
| October 2027 | October 2028 | October 2029 | |
|---|---|---|---|
| EBITDA | 5,260 (4,650 / 5,500) | 5,760 (4,800 / 6,500) | 6,440 (5,200 / 7,600) |
| Dividends per share | 0.35 (0.30 / 0.38) | 0.36 (0.30 / 0.42) | 0.38 (0.30 / 0.46) |
| Net debt | 4,100 (4,685 / 4,189) | 2,408 (4,175 / 2,155) | 62.00 (3,185 / -907) |
What this means. The bull case shows negative net debt in October 2029, which means the company would have more cash than borrowed money.
What is Infineon’s dividend yield today against its price?
Cash flow offers a harder test than enthusiasm. The free cash flow yield is 2.0%, while the dividend yield is 0.7%. FY2025 free cash flow was negative €1,051 million, though adjusted free cash flow was €1,803 million after excluding major acquisitions and certain factory-building expenditure. That adjustment describes underlying generation, not cash automatically available to shareholders.