Siemens Energy plans to more than triple its dividend and expects higher profit margins in 2027, it said on Wednesday, as the expansion of data centres in the United States continues to fuel demand for its gas turbines and grid equipment.

The German energy technology group proposed a dividend of €2.30 per share for 2026, up from €0.70 a share last year. It expects its profit margin to rise to between 14% and 16% in 2027, up from 12.4% in 2026, according to Reuters.

Record €164bn order backlog

The company also announced a fresh €9 billion share buyback late on Tuesday, running through the end of fiscal 2030 and sitting on top of an existing programme worth up to €6 billion, as reported by ad-hoc-news.

Demand for its equipment has pushed Siemens Energy's order backlog to €164 billion ($183 billion), a new record and the strongest year-on-year growth since the company was listed. The figures were published alongside its fourth-quarter and full-year fiscal 2026 results on Wednesday, 11 November.

Shares rise as AI worries ease

Shares in Siemens Energy gained 6.5% in morning trading in Europe on Wednesday, helping to lift the wider market. The rise came after a global sell-off in AI-related stocks, and the company's outlook helped ease concerns about the outlook for artificial intelligence spending.

The results cap a strong year for the group, whose turbines and grid technology sit at the centre of the race to power new data centres. Investors will now watch whether the order pipeline keeps growing at the same pace into 2027, and whether the higher margin targets are met.