The 3 Best Austrian Dividend Stocks To Buy

In the heart of Europe, we take a look and dig deep to find the three best Austrian dividend Stocks.
Austrian Dividend Stocks - compared


Key Takeaways

☑️ Austrian dividend stocks are not on many radars
☑️ 3 stocks are presented offering a good risk/reward ratio

Investors need to bring some time and patience

Three Austrian Dividend Stocks I Like

I’m a huge fan of 🇦🇹Austria, having spent lots and lots of time there, mainly in Tyrol and Vienna. I love the people, the food, the culture, the nature, and the general Zeitgeist (from my point of view more easy-going than Germans or Swiss). Its economy in the East (e.g. with Vienna) is fundamentally different from its economy in the West (the region of the Alps).

I recently had dinner with a friend of mine in Singapore, and he asked which Austrian dividend stocks I like. As I hadn’t looked into this, I was happy to be back home and started looking into it.

I started by taking a look at the largest Austrian dividend stocks (ranked by market cap):

Company Industry Market Cap PE Div % Div since
Verbund Utilities $49b 24.0 1.1% 2000
OMV Energy $14b 4.2 5.7% 1991
Erste Group Bank $10b 5.4 10.6% 2021
Andritz  Industrials $4,6b 12.9 3.6% 2001
Raiffeisen Bank Bank $4,4b 1.8 0.0% 2021
Bawag Group Bank $4,3b 8.4 6.3% 2021
STRABAG  Industrials $4,0b 7.4 5.2% 2008
Vöstalpine  Materials $3,6b 2.2 5.7% 1996
CA Immobilien Real Estate $3,3b 6.1 0.0% 2012
Wienerberger Materials $2,6b 5.2 3.2% 2011
Lenzing Materials $2,1b 22.7 5.7% 2022
Österr. Post Industrials $2,1b 15.9 6.2% 2007

With a market cap of 49 Bio USD, Verbund AG (WBO:VER) is the largest Austrian dividend stock, and the 800-pound gorilla in the room, being 3.5x larger than the second largest, OMV.

Just looking at the market cap, PE, and Dividend however not enough, hence I short-listed those stocks I liked the most, and ran some further comparisons:

Company Market Cap (M€) Rev Growth PB ROA ROIC
Wienerberger ⭐️


5.9 1.15 10.79 13.95


10.7 7.40 8.15 6.67
Vöstalpine ⭐️


2.0 0.48 10.16 11.84
OMV ⭐️


7.4 0.75 5.95 11.85


3.0 2.74 4.66 5.50
Erste Group


2.0 0.55 0.68 0.00

Knowing how much focus Buffett puts on the ROE, ROA, and ROIC, I made it my habit to look at those in detail. Three stocks rise above the noise level of 10% ROIC.

1⃣ Wienerberger

Wienerberger (WBO:WIE), a company that manufactures and sells building materials to the residential construction industry, has both a high Return-on-Assets AND high Return-on-Invested-Capital. Further, it doesn’t have any debt (!) and grew its revenues consistently throughout two very tough years (2020 and 2021).

2⃣ OMV

OMV (WBO:OMV), an international, integrated oil and gas and energy company, has a high ROIC, coupled with a low PE of 4.2. As an energy company with thousands of gas stations all over the country, I used myself hundreds of times, paying a noteworthy dividend since 1991 (which is very good for European dividend stocks)!

3⃣ Vöstalpine

Vöstalpine (WBO:VOE), a company that manufactures, processes, and develops steel products, also makes the cut with an ROIC of above 10, paired with a relatively high ROA of 10,16. It pays continuous dividends since 1996 (!), making it one of the only two Austrian dividend stocks with continuous dividend payments since the ’90s. It has an extremely low PE of just 2.

Let’s dig a little deeper into Vöstalpine:

Market Cap € M 3,638 Revenue € M 16,078
Enterprise Value € M 5,836 EPS € 9.19
PE 2.22 Beneish M-Score -1.92
PE Ratio without NRI 2.76 10-y EBITDA Growth Rate % 0.70
Forward PE Ratio 5.50 5-y EBITDA Growth Rate % -0.50
Price/Book 0.48 y-y EBITDA Growth Rate % 149.8
Price/Sales 0.23 EV-to-EBIT 3.14

Some further quick analysis of our third dividend stock, Vöstalpine:

  • Its market cap sits at 3,6 Bio €
  • Its EBITDA (2022) is 2,1 Bio € (!!)
  • the company has no debt
  • its gross margin % is declining
  • its revenue is growing slowly (2% p.a.)
  • it pays a regular but unstable dividend


I believe these three 🇦🇹Austrian dividend stocks can be considered good picks for long-term-oriented (five-plus years) dividend investors. Most of them have little to no debt, and are dividend payers (and growers), with above 10% ROICs (the number 1 metric Warren Buffett looks at).

Due to the multiple challenges, Europe is currently facing, I believe the current levels are good buying opportunities, based on the assumption that you only invest cash that you won’t need for years to come.

📖 Read Also


What are the best Austrian dividend stocks?

The 3 best Austrian dividend stocks, ranked by highest yield with a market cap of at least $2 Bio USD:

1) Wienerberger (WBO:WIE), a company that manufactures and sells building materials, dividend yield 2.9%
2) OMV (WBO:OMV), an international, integrated oil and gas and energy company, dividend yield 4.6%
3) Vöstalpine (WBO:VOE), a company that manufactures, processes, and develops steel products, dividend yield 4.6%

What are the top highest dividend yield companies in Austria?

Austrian dividend stocks, ranked by highest yield, with a market cap of at least $2 Bio USD:

(WBO:EBS) Erste Group Bank 8.75%
(WBO:OMV) OMV 4.61%
(WBO:VOE) Voestalpine 4.59%
(WBO:ANDR) Andritz 3.14%
(WBO:WIE) Wienerberger 2.91%
(WBO:VER) Verbund 1.19%

How to trade Austrian stocks?

Most international brokers such as Charles Schwab, Trade Republic or Interactive Brokers offer you to trade Austrian stocks directly at the WBO (=Wiener Boerse, or, Vienna stock market). Ticker symbols start with WBO, followed by the respective stock symbol. The three largest Austrian stocks:

(WBO:VER) Verbund – with a market cap of $61b USD, and a dividend yield of 1.19%
(WBO:OMV) OMV – with a market cap of $17b USD, and a dividend yield of 4.61%
(WBO:EBS) Erste Group – Bank with a market cap of $12b USD, and a dividend yield of 8.75%

What is the withholding tax in Austria for stock dividends?

In Austria, a standard 25% withholding tax is instantly deducted when receiving a dividend from one of your dividend stock holdings. If a corporation received a dividend, then the withholding tax is 27.5%. The ‘WHT’ is instantly deducted, and forwarded, to the Austrian the tax office.

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