5 Best German Dividend Stocks to Buy

2. Covestro AG (OTC:COVTY)

Forward Dividend Yield: 9.14%

Covestro AG (OTC:COVTY) is a Leverkusen, Germany-based supplier of polymers that have a wide range of applications in the automotive industry. The company has over 17,900 employees present at 50 production facilities globally. The company is at the second position on our list of the 10 best German dividend stocks to buy.

Covestro AG (OTC:COVTY) commenced production of naphthalene diisocyanate (NDI) at its recently constructed facility in Thailand. The company terms NDI as one of the most powerful elastomers in the market. Furthermore, Covestro AG (OTC:COVTY) is enhancing its capabilities in the field of industrial biotechnology. The company plans to leverage the power of microorganisms and enzymes to make its products more sustainable. For the past four years, Covestro AG (OTC:COVTY) has operated a biotechnology competence center to build its production capabilities. The company has revealed that it will not get involved in capping gas prices if it is tied to a ban on dividend payments. Covestro AG (OTC:COVTY) offers an annual dividend yield of 9.14% as of December 8.