A multilayer capacitor includes a capacitor body including an active region, and upper and lower cover regions disposed on upper and lower portions of the active region, respectively. First and second external electrode are disposed on both ends of the capacitor body, respectively. The active region includes a plurality of first dielectric layers, first and second internal electrodes alternately disposed with the first dielectric layer interposed therebetween, and first and second auxiliary electrodes disposed on the first dielectric layers on which the first and second internal electrodes are disposed, respectively. The upper and lower cover regions each include a plurality of second dielectric layers having a thickness less than that of each of the first dielectric layers, and a dummy electrode disposed on the second dielectric layers.