Volkswagen AG (azioni privilegiate) (VOW3) — Stock analysis

Volkswagen makes cars, SUVs, vans and trucks under 9 different brands: VW, Audi, Porsche, SEAT, Skoda, Lamborghini, Bentley, Ducati and VW Commercial Vehicles. It is among the world's top 3 auto groups by units sold.

VOW3 are Volkswagen's preferred shares (Vorzugsaktien): they carry no voting rights at shareholder meetings but have priority in dividend distributions. They are distinct from ordinary VOW shares which include voting rights. They typically trade at a discount to VOW.

Yes, with variability linked to company profits. The preferred dividend on VOW3 takes precedence over ordinary shares. Yield varies significantly with the auto sector cycle.