I think it is a sign of strength that they continue to raise dividends, and I also believe that it can contribute to interest in owning Swedish shares, says Danske Bank's senior strategist Maria Landeborn.
Many analysts had expected higher dividends from major companies, despite the fact that last year was characterized by great uncertainty and a weak recovery.
It is the large companies that are sensitive to economic cycles that continue to deliver, despite tariffs and the uncertainty that has existed.
Among the major companies, the large dividend payer and truck manufacturer AB Volvo stands out, as it announced that it will distribute one-third less than last year.
It's still 26 billion they're going to distribute, but that's less, Landeborn notes.
Cold showers of the year
With the exception of a few cold showers during the reporting season, many of the major companies are delivering strong results for the full year.
They are doing well, with growing revenues, strong order intake and, above all, profitability that is being maintained.
But while sectors such as engineering, industry and banks have performed strongly, it has been tougher for more consumer-oriented companies. For example, shares in passenger car manufacturer Volvo Cars fell more than 20 percent on the day of its report.
We have more consumer companies on the small-company lists, and this means that small companies as a group continue to lag behind.
Optimism for 2026
Maria Landeborn says many of the companies on the Stockholm Stock Exchange feel optimistic that the economy will pick up in 2026 and that this is already reflected to some extent in the companies' order intake.
If you look at the reporting season, it very much confirms what has been seen in other macro data, which has also signaled that the industrial economy is now strengthening.
Listed companies such as Boliden and Sandvik are also getting a boost from higher raw material prices.
The outlook for 2026 is generally positive, with better economic conditions supported by lower interest rates, expansionary fiscal policy and rising investments in general, Landeborn says.
