What are European Dividend Aristocrats?

European Dividend Aristocrats are European companies have paid steadily increasing dividends for at least 10 years. The US Dividend Aristocrats requirement is at least 25 consecutive years.

What are European Dividend Aristocrats examples?

Examples of European dividend aristocrats are Novartis, Roche, Nestle, Diageo, Red Elctrica, BAT, Novo Nordisk.

What are the top 10 EuropeanDividend Aristocrats with the highest yield?

The top 10 European Dividend Aristocrats based on dividend yield are BAt, Enages, SES, Novartis, BAE Systems, Red Elctrica, Sanofi.

What are the top 10 European dividend aristocrats?

The top 10 European dividend aristocrats based purely on market cap are Novo Nordisk, Nestle, Roche, Coloplast, Novartis, Sanofi, Novozymes.

How many European dividend aristocrats stocks are there?

There are currently 39 European dividend aristocrats.

European Dividend Aristocrats (S&P Europe 350-index)

Name	Ticker	Sector	Beta	Valuation	Dividend Yield (%)	P/E Ratio	3 year Dividend Growth (%)	5 year Dividend Growth (%)	10 year Dividend Growth (%)	Dividend increased years
Whitbread PLC	WTB.LSE	Consumer Cyclical	1.18 High	May be undervalued Current dividend yield is 100% above its 5-year average	4.03	0.00	-100.00	-100.00	-100.00	15
Johnson Matthey Plc	JMAT.LSE	Basic Materials	1.26 High	May be undervalued Current dividend yield is 96% above its 5-year average	3.76	24.23	-79.33	-62.09	-34.36	19
Fresenius SE & Co. KGaA	FRE.XETRA	Healthcare	1.27 High	May be undervalued Current dividend yield is 56% above its 5-year average	2.82	10.02	5.47	9.86	11.74	28
Intertek Group plc	ITRK.LSE	Industrials	0.49 Very low	May be undervalued Current dividend yield is 56% above its 5-year average	2.05	29.18	-76.32	-54.57	-28.31	18
Enagas, S.A	ENG.MC	Utilities	0.61 Low	May be undervalued Current dividend yield is 49% above its 5-year average	10.16	13.01	4.29	4.60	6.41	21
Associated British Foods plc	ABF.LSE	Consumer Defensive	1.10 Average	May be undervalued Current dividend yield is 46% above its 5-year average	1.52	29.00	-79.20	-59.41	-33.72	19
EssilorLuxottica Societe anonyme	EL.PA	Healthcare	0.93 Average	May be undervalued Current dividend yield is 34% above its 5-year average	1.52	51.52	-10.96	-0.55	2.67	10
British American Tobacco p.l.c	BATS.LSE	Consumer Defensive	0.58 Low	May be undervalued Current dividend yield is 31% above its 5-year average	6.87	10.79	-77.73	-57.52	-33.05	19
The Sage Group plc	SGE.LSE	Technology	0.59 Low	May be undervalued Current dividend yield is 30% above its 5-year average	2.50	27.09	-77.79	-58.10	-31.73	27
Unilever N.V.	UNA.AS	Consumer Defensive	0.18 Very low	May be undervalued Current dividend yield is 29% above its 5-year average	4.19	17.57	3.91	6.22	6.82	23
Chocoladefabriken Lindt & Sprungli AG	LISP.SW	Consumer Defensive	0.31 Very low	May be undervalued Current dividend yield is 17% above its 5-year average	1.14	5.23	-7.71	-1.79	4.97	24
Novartis AG	NOVN.SW	Healthcare	0.54 Low	Looks reasonably valued Current dividend yield is 9% above its 5-year average	3.84	8.12	2.33	2.13	3.15	24
Diageo plc	DGE.LSE	Consumer Defensive	0.43 Very low	Looks reasonably valued Current dividend yield is 8% above its 5-year average	1.98	28.77	-77.69	-58.54	-33.10	23
Fresenius Medical Care AG & Co. KGaA	FME.XETRA	Healthcare	0.98 Average	Looks reasonably valued Current dividend yield is 5% above its 5-year average	2.24	18.24	8.13	10.87	7.50	24
Groupe Bruxelles Lambert SA	GBLB.BR	Financial Services	0.89 Average	Looks reasonably valued Current dividend yield is 5% above its 5-year average	2.92	51.45	-16.45	-9.36	-3.66	20
Hermes International SA	RMS.PA	Consumer Cyclical	0.40 Very low	Looks reasonably valued Current dividend yield is 4% above its 5-year average	0.66	52.27	3.53	6.31	11.74	10
Red Electrica Corporacion, S.A	REE.MC	Utilities	0.29 Very low	Looks reasonably valued Current dividend yield is 0% above its 5-year average	5.64	14.07	23.42	16.61	12.06	22
Wolters Kluwer N.V	WKL.AS	Consumer Cyclical	0.28 Very low	Looks reasonably valued Current dividend yield is -5% below its 5-year average	1.63	34.68	13.04	13.48	7.88	14
Novozymes A/S	NZYM-B.CO	Basic Materials	0.34 Very low	Looks reasonably valued Current dividend yield is -9% below its 5-year average	1.22	39.44	5.27	8.45	12.62	19
Nestle S.A	NESN.SW	Consumer Defensive	0.26 Very low	Looks reasonably valued Current dividend yield is -10% below its 5-year average	2.31	19.97	5.38	4.10	4.04	25
Sanofi	SAN.PA	Healthcare	0.44 Very low	Looks overvalued Current dividend yield is -11% below its 5-year average	3.43	18.85	1.84	1.78	2.50	25
SSE plc	SSE.LSE	Utilities	0.51 Low	Looks overvalued Current dividend yield is -13% below its 5-year average	4.86	6.88	-79.55	-60.97	-36.42	22
BAE Systems plc	BA.LSE	Industrials	0.91 Average	Looks overvalued Current dividend yield is -14% below its 5-year average	3.47	13.15	-77.76	-59.08	-35.01	16
Roche Holding AG	ROG.VX	Other	0.31 Very low	Looks overvalued Current dividend yield is -14% below its 5-year average	2.54	22.63	3.11	2.36	3.26	33
Coloplast A/S	COLO-B.CO	Healthcare	0.15 Very low	Looks overvalued Current dividend yield is -16% below its 5-year average	1.91	43.33	5.90	7.07	21.10	21
SES S.A	SESG.PA	Consumer Cyclical	0.83 Average	Looks overvalued Current dividend yield is -26% below its 5-year average	5.31	8.45	-100.00	-100.00	-100.00	10
Novo Nordisk A/S	NOVO-B.CO	Healthcare	0.31 Very low	Looks overvalued Current dividend yield is -32% below its 5-year average	1.40	35.92	6.00	-0.11	16.68	22
Ashtead Group plc	AHT.LSE	Industrials	1.40 High	Looks overvalued Current dividend yield is -35% below its 5-year average	0.81	27.09	-76.62	-54.86	-17.82	14
WPP plc	WPP.LSE	Consumer Cyclical	1.26 High	Looks overvalued Current dividend yield is -37% below its 5-year average	2.92	20.34	-83.59	-64.70	-34.87	19
Skandinaviska Enskilda Banken AB (publ.)	SEBA.F	Financial Services	1.06 Average	Looks overvalued Current dividend yield is -90% below its 5-year average	5.52	9.25	-47.98	-31.19	-5.98	10

Name

Ticker

Sector

Beta

Valuation

Dividend Yield (%)

P/E Ratio

3 year Dividend Growth (%)

5 year Dividend Growth (%)

10 year Dividend Growth (%)

Dividend increased years

Whitbread PLC

WTB.LSE

Consumer Cyclical

1.18
High

May be undervalued
Current dividend yield is 100%
above its 5-year average

4.03

0.00

-100.00

Johnson Matthey Plc

JMAT.LSE

Basic Materials

1.26
High

May be undervalued
Current dividend yield is 96%
above its 5-year average

3.76

24.23

-79.33

-62.09

-34.36

Fresenius SE & Co. KGaA

FRE.XETRA

Healthcare

1.27
High

May be undervalued
Current dividend yield is 56%
above its 5-year average

2.82

10.02

5.47

9.86

11.74

Intertek Group plc

ITRK.LSE

Industrials

0.49
Very low

May be undervalued
Current dividend yield is 56%
above its 5-year average

2.05

29.18

-76.32

-54.57

-28.31

Enagas, S.A

ENG.MC

Utilities

0.61
Low

May be undervalued
Current dividend yield is 49%
above its 5-year average

10.16

13.01

4.29

4.60

6.41

Associated British Foods plc

ABF.LSE

Consumer Defensive

1.10
Average

May be undervalued
Current dividend yield is 46%
above its 5-year average

1.52

29.00

-79.20

-59.41

-33.72

EssilorLuxottica Societe anonyme

EL.PA

Healthcare

0.93
Average

May be undervalued
Current dividend yield is 34%
above its 5-year average

1.52

51.52

-10.96

-0.55

2.67

British American Tobacco p.l.c

BATS.LSE

Consumer Defensive

0.58
Low

May be undervalued
Current dividend yield is 31%
above its 5-year average

6.87

10.79

-77.73

-57.52

-33.05

The Sage Group plc

SGE.LSE

Technology

0.59
Low

May be undervalued
Current dividend yield is 30%
above its 5-year average

2.50

27.09

-77.79

-58.10

-31.73

Unilever N.V.

UNA.AS

Consumer Defensive

0.18
Very low

May be undervalued
Current dividend yield is 29%
above its 5-year average

4.19

17.57

3.91

6.22

6.82

Chocoladefabriken Lindt & Sprungli AG

LISP.SW

Consumer Defensive

0.31
Very low

May be undervalued
Current dividend yield is 17%
above its 5-year average

1.14

5.23

-7.71

-1.79

4.97

Novartis AG

NOVN.SW

Healthcare

0.54
Low

Looks reasonably valued
Current dividend yield is 9%
above its 5-year average

3.84

8.12

2.33

2.13

3.15

Diageo plc

DGE.LSE

Consumer Defensive

0.43
Very low

Looks reasonably valued
Current dividend yield is 8%
above its 5-year average

1.98

28.77

-77.69

-58.54

-33.10

Fresenius Medical Care AG & Co. KGaA

FME.XETRA

Healthcare

0.98
Average

Looks reasonably valued
Current dividend yield is 5%
above its 5-year average

2.24

18.24

8.13

10.87

7.50

Groupe Bruxelles Lambert SA

GBLB.BR

Financial Services

0.89
Average

Looks reasonably valued
Current dividend yield is 5%
above its 5-year average

2.92

51.45

-16.45

-9.36

-3.66

Hermes International SA

RMS.PA

Consumer Cyclical

0.40
Very low

Looks reasonably valued
Current dividend yield is 4%
above its 5-year average

0.66

52.27

3.53

6.31

11.74

Red Electrica Corporacion, S.A

REE.MC

Utilities

0.29
Very low

Looks reasonably valued
Current dividend yield is 0%
above its 5-year average

5.64

14.07

23.42

16.61

12.06

Wolters Kluwer N.V

WKL.AS

Consumer Cyclical

0.28
Very low

Looks reasonably valued
Current dividend yield is -5%
below its 5-year average

1.63

34.68

13.04

13.48

7.88

Novozymes A/S

NZYM-B.CO

Basic Materials

0.34
Very low

Looks reasonably valued
Current dividend yield is -9%
below its 5-year average

1.22

39.44

5.27

8.45

12.62

Nestle S.A

NESN.SW

Consumer Defensive

0.26
Very low

Looks reasonably valued
Current dividend yield is -10%
below its 5-year average

2.31

19.97

5.38

4.10

4.04

Sanofi

SAN.PA

Healthcare

0.44
Very low

Looks overvalued
Current dividend yield is -11%
below its 5-year average

3.43

18.85

1.84

1.78

2.50

SSE plc

SSE.LSE

Utilities

0.51
Low

Looks overvalued
Current dividend yield is -13%
below its 5-year average

4.86

6.88

-79.55

-60.97

-36.42

BAE Systems plc

BA.LSE

Industrials

0.91
Average

Looks overvalued
Current dividend yield is -14%
below its 5-year average

3.47

13.15

-77.76

-59.08

-35.01

Roche Holding AG

ROG.VX

Other

0.31
Very low

Looks overvalued
Current dividend yield is -14%
below its 5-year average

2.54

22.63

3.11

2.36

3.26

Coloplast A/S

COLO-B.CO

Healthcare

0.15
Very low

Looks overvalued
Current dividend yield is -16%
below its 5-year average

1.91

43.33

5.90

7.07

21.10

SES S.A

SESG.PA

Consumer Cyclical

0.83
Average

Looks overvalued
Current dividend yield is -26%
below its 5-year average

5.31

8.45

-100.00

Novo Nordisk A/S

NOVO-B.CO

Healthcare

0.31
Very low

Looks overvalued
Current dividend yield is -32%
below its 5-year average

1.40

35.92

6.00

-0.11

16.68

Ashtead Group plc

AHT.LSE

Industrials

1.40
High

Looks overvalued
Current dividend yield is -35%
below its 5-year average

0.81

27.09

-76.62

-54.86

-17.82

WPP plc

WPP.LSE

Consumer Cyclical

1.26
High

Looks overvalued
Current dividend yield is -37%
below its 5-year average

2.92

20.34

-83.59

-64.70

-34.87

Skandinaviska Enskilda Banken AB (publ.)

SEBA.F

Financial Services

1.06
Average

Looks overvalued
Current dividend yield is -90%
below its 5-year average

5.52

9.25

-47.98

-31.19

-5.98

Our Dividend Newsletter, exclusive information, premium features!

In brief:

The famous Dividend Aristocrats are a select group of S&P 500 stocks with 25+ years of consecutive dividend increases. These are all large US companies since they are part of the S&P 500 Index.
Although quarterly dividend pay-outs and yearly consecutive dividend increases are not common in Europe, there is a list of European Dividend aristocrats.
The European Dividend Aristocrats are a S&P Europe 350 index member and a track record of increasing or stable dividends for at least 10 consecutive years.
In 2021, the European Dividend Aristocrats gained 30.87% compared to 26.07% for the S&P Europe 350 index.

Difference European and US Dividend Aristocrats

The S&P 500 applies the following criteria to construct the US Dividend Aristocrats list:

must be members of the S&P 500
must have increased dividends every year for at least 25 consecutive years
Market Cap at least USD 3 billion
Liquidity at least USD 5 million (average daily value traded)
Diversification, at least 40 constituents and not sector allocation above 30%

The European Dividend Aristocrats are based (by S&P) on Eurozone companies within the S&P Europe 350 index and a managed dividends policy of increasing or stable dividends for at least 10 consecutive years.

The S&P Europe 350 index is a bit like the S&P 500 for the US.

Next to the currencies (EUR vs USD), the other major difference is:

Increasing dividends for at least 10 consecutive years vs 25 consecutive years (US)

End of 2021, the European Dividend Aristocrats Index has 40 constituents.

Download the European Dividend Aristocrats List (excel)

Instantly get access the Excel spreadsheet of all 39 European Dividend Aristocrats now.
Join our Newsletter and receive a link to download all excels for FREE!

The Dividend European Aristocrats Excel spreadsheet contains the following fundamental and stock price performance metrics for each stock in the index.

Fundamental metrics:

Dividend & earnings per share
Dividend Yield
Pay-out ratio

Stock price performance metric (Members only):

1 yr price target
10 year weighted compound annual growth rate (WCAGR / GEOPAK10)
Win factor
Loss ratio
Total return

Performance European Dividend Aristocrats

The European Dividend Aristocrats gained 30.87% in 2021, compared to the benchmark performance of 26.07%, 10 years annualized total return is 10.58%, compared to 10.41% for the benchmark index. The average P/E ratio is 22.08 and the indicated dividend yield is 2.38%. Overall a good performance and solid fundamentals. Below a chart of the historical performance since 2009.

Sector overview of the Dividend Aristocrats

As explained the European Dividend Aristocrats Index currently contains 40 stocks. As you can see below, the Industrials account for 22.9% of the index. The Utility sector and Communications Services are on the other end of the spectrum at less than 3% of the European Dividend Aristocrats Index. To compare, the largest US dividend aristocrats sector is Consumer Staples. (January-2022)

Top-10 European Dividend Yield

The table below list the top 10 European dividend aristocrats, sorted by dividend yield:

Please note that there is also an index created by S&P, named the Euro Dividend Aristocrats. This index is based on high yield stocks with a stable or increasing dividend of 10 years, see the Euro Dividend Aristocrats list.

Other Sources of Dividend Investment Ideas

The Dividend Aristocrats list is not the only way to quickly screen for businesses that regularly pay rising dividends.

The Dividend Kings List is even more exclusive than the Dividend Aristocrats. It is comprised of less than 20 businesses with 50+ years of consecutive dividend increases.
The MoneyInvestExpert Defensive Aristocrats is a performance-based top-10 selection of the Dividend Aristocrats to outperform the market on the long-term.
Portfolio lists like the Berkshire Hathaway Portfolio or Bill Gates’stock portfolio can be a source.
For the European focused investors there is also the list of European Dividend Aristocrats.
Dividend Champions are not necessarily members of the S&P 500 index, have increased their dividend for 25 or more consecutive years.
100+ years of dividend, the list of stocks that pay over 100 year of dividend can be an list of inspiration.

Next to selecting the right dividend stocks, important principles for successful long-term investing are Disciple, Diversification, Defensive & indeed Dividend. Read more about this in our free e-book.

Also, our monthly newsletter and premium member data will help you to invest smarter.

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European Dividend Aristocrats (S&P Europe 350-index)

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