Siemens Energy’s Annual General Meeting: Focus on Wind‑Power Subsidiary and Dividend Announcement

On February 26, 2026, Siemens Energy’s shareholders will convene in Berlin for the company’s annual general meeting (AGM). The agenda is heavily weighted toward two pivotal items that are expected to dominate the debate: the announcement of a dividend for the first time in four years, and a detailed discussion of the strategic direction of its wind‑power subsidiary, Siemens Gamesa Renewable Energy SA.

Dividend – a return to shareholder returns

The board has proposed a dividend of €0.70 per share for the fiscal year 2025. This marks the first payout in the company’s recent history, as the dividend was suspended in 2022 amid a restructuring of the energy business and a refocusing on gas‑power generation and grid infrastructure. The decision signals confidence in the company’s cash‑flow profile, buoyed by a sharp increase in earnings during the last quarter and a strong order backlog in the gas‑power and grid sectors.

Siemens Energy’s share price, which traded at €170.80 on the day of the announcement, has reached a new 52‑week high. The move is being interpreted by analysts as a market endorsement of both the dividend policy and the company’s broader turnaround strategy, which has seen a 160 % gain in share price since the fall of 2023.

Siemens Gamesa – a wind‑power turnaround in the spotlight

The AGM will also address the future of Siemens Gamesa, the company’s wind‑energy unit that has been described as “one of the most spectacular turnarounds in DAX history” by CEO Christian Bruch. While Siemens Energy has benefited from the high demand for gas turbines and grid‑extension projects, the wind‑power sector remains a critical growth lever and a source of long‑term diversification.

Recent developments underscore Siemens Gamesa’s resurgence:

  • 21 MW German order – On February 23, the company secured a 21 MW order in Germany, adding to a growing list of contracts in Europe. The order was announced by the company’s Danish office and confirmed by industry sources such as RenewS.biz.
  • Second German order – A subsequent announcement on February 23 by Finanschat.dk highlighted a second German order, further cementing the company’s footprint in the European market.
  • Financial reporting – Siemens Gamesa’s consolidated and standalone annual financial statements for the year ended March 31, 2025, have been submitted to the National Stock Exchange of India and BSE, as per regulatory filings dated February 20, 2026. These filings provide a transparent view of the subsidiary’s performance and support the management’s narrative of sustained profitability.

During the AGM, shareholders will likely question the degree of integration between Siemens Energy and Siemens Gamesa, the allocation of capital toward new projects, and the impact of these decisions on the parent company’s valuation. Analysts anticipate that a favourable vote on the subsidiary’s future strategy could further lift the share price, given the market’s positive reception to the company’s overall turnaround.

Market context and investor sentiment

The broader energy equipment sector has witnessed a renaissance, with companies such as Siemens Energy benefiting from a surge in gas‑power demand and infrastructure upgrades. In contrast to peers, Siemens Energy has outperformed the DAX, achieving a 20‑fold increase in stock price since 2023. However, some investors are wary of a potential correction, given the steep gains and the company’s exposure to multiple energy markets.

Siemens Gamesa’s focus on wind‑power, coupled with its expanding order book in Europe, positions it as a key driver of future growth. The AGM’s outcomes will determine whether investors continue to view the company as a diversified energy leader or as a conglomerate with distinct, potentially divergent, business lines.

This article synthesizes information from recent press releases and regulatory filings pertaining to Siemens Energy and its wind‑power subsidiary, Siemens Gamesa Renewable Energy SA.