Atoss Software from Germany is a dividend growth monster
With record revenues, zero debt, and a dividend streak entering its 11th year, this high-growth software company proves that quality scales — even in a volatile market.
Our new Focus stock comes from Germany and actually is a Dividend Hero. Atoss Software has a strong dividend trackrecord with double digit annual increases combined with regular special dividend payments.
Atoss Software may fly under the radar as a small cap with a market value below €2 billion, but its performance over the past decade is anything but small. From 2014 to 2024, the stock delivered an astonishing +1,300% stock price return — averaging nearly +40% per year — while dividends surged by 868%, excluding four special payouts.
We’re absolutely not surprised to see Atoss shares surging in 2025 — even while the rest of the market is falling apart. Just weeks ago, a fellow European software/tech player Fortnox from Sweden — also a true Dividend Hero — got snapped up.
Atoss stands tall. This company is firing on all cylinders: double-digit growth in both revenue and earnings, and yes — the dividend is still climbing. And let’s not forget the cherry on top: zero debt. That’s right. Debt. Free.
In this market? It simply doesn’t get better than this.
ATOSS Software, headquartered in Munich, Germany, is a leading provider of workforce management solutions. Since its founding in 1987, the company has built a strong reputation for developing software that optimizes the deployment of personnel in organizations across various sectors, including retail, healthcare, logistics, production, and public services.
Last year, we also published an article on the German software company SAP, one of our first Focus stocks; since then, SAP has soared and reached new all-time highs in 2025.
Atoss Software’s success stems primarily from its SaaS business model, which generates recurring revenue and provides a stable, predictable cash flow. Specializing in workforce management solutions, Atoss serves large enterprises in sectors like retail and healthcare, offering mission-critical software that drives efficiency and cost savings. This focus on high-margin, subscription-based services enables strong customer retention and consistent financial performance, which has supported both impressive earnings and dividend growth over the years.
Let’s dive into the company’s financial performance, outlook for 2025 and beyond and most important, valuation, balance sheet and dividend prospects!