FRANKFURT (dpa-AFX) - The rally in DWS shares continues on Friday. New dividend plans of Deutsche Bank's fund subsidiary are keeping investors happy. At the top of the second-line index SDax, the shares recently gained three percent. This builds on their recovery in late trading the previous day, when they made up for the day's losses after the dividend was announced and closed slightly higher.

DWS is planning a special distribution and a slightly higher ordinary dividend. An extraordinary dividend of EUR 4.00 per share will be proposed to the Annual General Meeting, the Group announced on Thursday. The ordinary dividend for 2023 is to increase by five cents to EUR 2.10 per share. At the current share price of 38.20 euros, this results in a total dividend yield of 16 percent.

Analyst Angeliki Bairaktari from JPMorgan still sees considerable upside potential for DWS shares and accordingly votes "Overweight" with a price target of 45.80 euros. Although she had expected a special dividend of five euros, the proposed four euros would also be a positive result.

Thanks to the price rally, DWS shares are currently at their highest level since January 2022. Greenwashing allegations, which arose again in the middle of the week, did not leave any negative traces on the share price. According to the Frankfurt public prosecutor's office, representatives of the Federal Criminal Police Office (BKA) and the public prosecutor's office were already investigating on the premises of DWS on January 16. The fund company is accused of having sold so-called green financial products as "greener" than they actually are - in other words, greenwashing.

At the end of October, the DWS share price fell to its lowest level since March 2023 at EUR 26.54. Reports of out-of-control costs for the IT changeover had spooked investors at the time. The subsequent soaring price has since brought investors a gain of 44%. Since the beginning of the year, the increase amounts to around ten percent, making DWS one of the best stocks in the SDax./ajx/stw/stk