German defence giant Rheinmetall plans to pay shareholders a €528 million dividend this year, more than doubling last year's payout and reflecting its windfall from surging European defence spending. The company, which saw its share price surge almost 20-fold since the Ukraine invasion, announced €11.50 per share dividends, up from €8.10 last year and a mere €2 in 2021. This payout underscores the company's transformation into a major beneficiary of the war in Ukraine.

Rheinmetall reported €9.9 billion in 2025 sales, a 29% increase from 2024, with operating profits rising 33% to €1.8 billion and a healthy 18.5% margin. The company won €7.8 billion in vehicle system orders, including components for the Leopard 2 tank, while its order backlog reached a record €64 billion.