The invention relates to a dispensing device for dispensing a liquid, in particular in the form of a foam, at least comprising a liquid container and a dispensing assembly, the dispensing assembly comprising a liquid pump (4) and an actuating head (10). The actuating head comprises a discharge duct (12) and a dispensing opening for dispensing the liquid, and a circular protective cap (14), which protective cap can be guided into a space which is formed between a protective inner wall (29)and a protective outer wall (30) the dispensing assembly. One or more discharge openings (31) are provided near the bottom of the space which discharge to the outside. According to a first aspect of the invention, the one or more discharge openings discharge over a section (30A) of at most 180 degrees, preferably at most 90 degrees, of the periphery of the dispensing device. According to a second aspect of the invention, a retaining handle is formed by a retaining section of the protective outer wall (30) the dispensing device, which section is substantially vertical and/or tapers outwards in the direction remote from the liquid container.