Dividend calculator: how much net dividend actually reaches your account?
Most dividend calculators show the gross figure. This one applies the partial exemption, the Sparer-Pauschbetrag and church tax — the number you actually receive.
A projection of your assumptions, not a forecast. Dividends can be cut or dropped.
€72.92 net per month today — the target is €500.00.
With your assumptions and contribution the target would be reached in 18 years, which takes €201,003.04.
Net per month
€72.92
Capital needed
€201,003.04
Target reached in
18 years
| Gross dividend per year | €875.00 |
|---|---|
| Partial exemption | − €262.50 |
| Sparer-Pauschbetrag | − €612.50 |
| Tax | − €0.00 |
| Net per year | €875.00 |
| Capital still missing | €176,003.04 |
| Point in time | Portfolio value | Net per month |
|---|---|---|
| in 5 years | €56,731.97 | €156.90 |
| in 10 years | €101,182.17 | €262.61 |
| in 15 years | €163,101.14 | €409.86 |
| in 20 years | €249,354.07 | €614.99 |
| in 30 years | €536,872.73 | €1,298.76 |
Effective tax burden on today's dividend: 0%.
What does this mean for your real wealth?
The calculation above assumes a fixed dividend yield. Which dividends your portfolio actually paid, Planafolio shows for free; the projection of the next 12 months for your current positions is part of Pro.
Free: see the real dividends of your portfolioWhat does the result mean?
The result shows how much net dividend income your capital brings per month today and when you reach your monthly target in the model.
Model assumptions
- Dividend yield and price growth stay constant; contributions are added once a year at year end, and the full saver's allowance is available for dividends every year.
- Tax rules as of 2026: flat tax, solidarity surcharge, church tax, partial exemption and saver's allowance as set out in law.
- The advance lump sum and fund costs are not taken into account.
- All amounts are nominal. Purchasing power falls with inflation, which the result does not reflect.
How the calculator works
Gross dividend = capital × dividend yield, taxed as in the capital gains tax calculator. The projection runs in annual steps with constant price growth and optional reinvestment.
More on the methodologyWorked example
Example: from an ETF portfolio to dividend income
Worked example using the calculator's default values above: an existing portfolio, a monthly savings rate, and net dividends are reinvested. Figures are net, i.e. after tax.
Inputs
- Portfolio value today€25,000
- Monthly contribution€300
- Annual dividend yield (assumption)3.5%
- Annual price growth (assumption)4%
- Investment typeEquity fund/ETF
- Unused saver's allowance€1,000
- Desired net dividend per month€500
Calculation
| Gross dividend per year today | €875.00 |
|---|---|
| Tax on it (after partial exemption and allowance) | €0.00 |
| Net dividend per month today | €72.92 |
| Capital needed for the desired net dividend | €201,003 |
Result
| Time to reach the desired net dividend | 18 years |
|---|
With the savings rate, price growth and reinvested dividends, the desired net dividend is reached after 18 years. Above the allowance tax applies, so noticeably more capital is needed than without tax.
Dividend yield (3.5%) and price growth (4%) are assumptions, the same defaults as in the calculator above, not a forecast.
Common mistakes
Mistaking gross dividend for the payout
The calculator shows net dividends after partial exemption, saver's allowance and tax. Your target is therefore also net, a gross figure from a broker app doesn't match.
Using the full allowance when it is already used up
The calculator assumes the saver's allowance is fully available for dividends every year. If interest or capital gains have already used it, enter the remaining amount here.
Counting dividend yield and price growth twice
Price growth is a separate field and excludes dividends. Don't enter the full total return in both.
Not accounting for foreign withholding tax
Foreign stocks' dividends are often subject to withholding tax abroad. The calculator does not model it, so the net dividend can be lower.
Sources and status
Content reviewed on September 29, 2026. Legal status: 2026. The sources are official German legal texts and data and are therefore in German.
- § 20 Abs. 1 Nr. 1 EStG – Dividenden als Kapitalerträge
- § 32d EStG – Abgeltungsteuer
- § 20 Abs. 9 EStG – Sparer-Pauschbetrag
- § 20 InvStG – Teilfreistellung
The calculation is a simplified estimate and does not replace tax advice.
What can I do?
In your portfolio, Planafolio tracks your actual dividends by month and security.
What makes the difference
Three things a gross calculation hides
They decide how far away your dividend target really is.
Tax costs about a quarter
Above the allowance 26.375% is withheld, up to 27.99% with church tax. For equity ETFs the 30% partial exemption softens that — for individual stocks it does not.
The allowance only works once
The first €1,000 of investment income per year stays tax-free. That makes small dividend portfolios entirely tax-free — and quickly becomes irrelevant for larger ones.
Foreign withholding tax
Foreign dividends are taxed in their home country first. Part of it is credited against German tax, the rest only comes back through a reclaim procedure. This calculator models the German part.
Frequently asked
Understanding dividends
It depends on the yield and the tax. At a 3.5% dividend yield under German taxation the requirement is roughly 200,000 to 240,000 EUR — depending on individual stocks versus equity ETFs (partial exemption), whether the tax-free allowance is still available, and church tax. The calculator above shows the exact figure for your assumptions. A higher assumed yield needs less capital on paper, but high yields often come with a higher risk of cuts.
Not automatically. Yield also rises when the price falls, so a double-digit yield at a struggling company is often a warning that the dividend is about to be cut. What matters is whether the company can pay the distribution out of profits for the long run.
During the saving phase accumulating ETFs are usually slightly more efficient, because nothing has to be reinvested and no order fees apply. Distributing ETFs help use up the annual allowance and, in the withdrawal phase, provide cash without selling shares.
At the moment of distribution. A German broker withholds capital gains tax, solidarity surcharge and, where applicable, church tax and transfers you the net amount.
Yes. Set the investment type above to "Equity ETF" and this ETF dividend calculator applies the 30% partial exemption instead of the full capital gains tax used for individual stocks. For the dividend yield, enter the ETF's own distribution yield (found in the provider's factsheet), not the index's yield.
Gross dividend minus tax. For a German stock with no allowance left and no church tax, your broker withholds 26.375% (withholding tax plus solidarity surcharge). 100 € of gross dividend becomes roughly 73.63 € net. While your Sparer-Pauschbetrag (tax-free allowance) is not used up via an exemption order, dividends are tax-free up to that amount; for equity ETFs the partial exemption lowers the tax further. The calculator above does this with your own numbers.
Divide the net dividend you want by (1 − tax rate). Example: you want 500 € net per year at 26.375% tax (no allowance, no church tax): 500 € ÷ 0.73625 ≈ 679.12 € gross, of which about 179.12 € is tax. With church tax, the allowance or partial exemption the rate changes, which is why the calculator above lets you set each of these.
Embed this calculator on your own site
Free, no sign-up, no tracking. A one-line snippet that resizes itself — for blogs, guides and comparison sites.
More calculators
You might also like
Don't just calculate — keep track
Planafolio follows your portfolio, taxes and retirement plan automatically. Start free, no credit card.
Free: see the real dividends of your portfolio