"Dividend" is the portion of the profit that is distributed to the shareholders of a company as a reward for their investment. In exchange for providing risk-bearing capital (equity), shareholders receive both voting rights and the right to a dividend.

The dividend is paid from the remaining profit of the company after deduction of all obligations. Part of this profit is usually not distributed, but added to the general reserve or used for new investments.

Dividends can be paid out in various forms, such as a cash dividend (money) or as shares (stock dividend). Fast-growing companies will often pay little or no dividend because they need their resources for further growth. The dividend payout ratio indicates what portion of the total profit is paid out to shareholders.

In addition, there are special forms of dividend, such as the super dividend (one-off high payment) and loyalty dividend (extra payment for loyal shareholders). The dividend yield is the dividend as a percentage of the stock market price and is an important measure for investors looking for stable income.

The actual payment of dividends usually takes place in installments, with an interim dividend and a final dividend often paid in Europe. The dividend is paid on the ex-dividend date, and the share price usually falls by the amount of the dividend on that day.

In short, dividends are an important form of reward for shareholders and can have a major impact on the attractiveness of a stock for investors.