A precision capacitive shaft encoder providing a dc signal corresponding to the angular position of a shaft is described. Two variable capacitances are coupled in tandem by a rotatable shaft. Each capacitor has a capacitance that varies linearly with a change in the angular position of the shaft. The sum of the two capacitances is always constant for any angular position of the shaft. Each capacitance is alternately coupled to a reference dc voltage and a discharge circuit. The capacitances are electrically coupled in series and the charge periodically acquired at the junction of the capacitance is a function of the position of the shaft. An error-compensating voltage is imposed on the junction when the capacitances are coupled to the reference voltages. The junction is coupled to sample-and-hold apparatus provided with a error-correcting circuit