The ‘Noble 30’ represents an exclusive selection of genuine European Dividend Aristocrats, each boasting a track record of at least 20 years of consistent or growing dividends. Hence, I consider these the best of the best International dividend stocks from Europe. 

To qualify as European Dividend Aristocrats, companies must:

• have shown resilience during the Great Recession and the 2020 pandemic. They have either increased or sustained their dividend since at least the beginning of 2000.
• the company is of blue-chip nature, hence having at least a 5 billion market cap.

This curated list features 30 elite European dividend aristocrats, with hyperlinks to their respective posts for deeper analysis of individual companies.

The Noble 30 – European Dividend Aristocrats Index

* TotalEnergies had a 4 cent decline during covid (-1.5%), but I decided to keep it in the list.

Last but not least, you can find main statistics of these European Dividend Aristocrats further down below in this article.

European dividend aristocrats – a brief introduction

For quite some time, I’ve admired the US dividend aristocrats, feeling that there wasn’t a comparable European counterpart.

US Dividend Aristocrats, for instance, are stocks with a minimum of 25 consecutive years of dividend increases and a market capitalization of at least $3 billion. In contrast, European dividend aristocrats must demonstrate a minimum of consistent or increasing dividends for at least 10 consecutive years.

However, this criterion seems inadequate to me, as it overlooks the stock market crash during the Great Recession of 2008-2009. While it’s easy to boost dividends during prolonged bull markets, it’s crucial to judge a company’s commitment to sustaining dividends during times of crisis and uncertainty.

A mere 10-year benchmark doesn’t inspire confidence in me, and I’m typically cautious about investing in such companies. I seek more rigorous standards!

Hence, I’ve thoroughly curated a list of 30 top-tier European dividend aristocrats, each with a proven track record of dividend growth or sustainability predating the Great Recession and having a market capitalization exceeding $5 billion.

Such a track record is relatively uncommon among European companies, given the common dividend policy tradition of paying out 50% of earnings. Consequently, many dividends are slashed during economic downturns, such as the recent pandemic-induced crisis.

Therefore, allow me to introduce you to the ‘Noble 30’!

Why this name?

The Noble 30 represent a unique group of European dividend aristocrats. They embody elegance, elite status, and have proven to be dependable in their dividend payouts. Many of these companies have extensive histories, some dating back to the 19th century.

However, they’re not flawless. There have been instances where they didn’t increase their dividends for a year or two. However, I anticipate that they will at least sustain their dividends during such periods.

Referring to them as “Aristocrats” can be misleading, potentially leading to confusion with their US counterparts.

Nevertheless, they share a common trait: they are true elite European dividend stocks!

Hence, I’ve dubbed them the Noble 30.

I prefer this name because aristocrats inherit their title due to heredity and are often tied to their land. Nobles, on the other hand, receive their social status and are typically still considered “commoners”. A prime example of noblemen were Knights and I believe this name better aligns with my own philosophy to life!

Why just 30 European International Dividend Stocks?

Establishing a limit on the number of members lends exclusivity.

A collection of 30 stocks also presents an ideal size for constructing an ETF. It provides ample diversification and facilitates easier tracking. Moreover, these are generally high-quality companies with a steadfast commitment to shareholder returns.

Think of it similar as to the Dow Jones Index. Or better yet, envision it as the Noble 30 Index 💪

The Noble 30 – Main Statistics

Stock prices fluctuate constantly, consequently impacting key ratios such as dividend yield. That’s why I’m keeping the primary statistics updated in a Google Sheet. This method ensures I can provide you with the most accurate dividend yield and payout ratios.

💰 You can buy all these European Dividend Aristocrats at low costs at Interactive Brokers.
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Note:

* Years highlighted with light orange color are stocks for which I’ve not been able to track back the full dividend history. I was only able to get to this amount of years due to extensive online desk research and therefore it serves as a minimum amount of years. If you have evidence that the company has an even longer track record without dividend cuts, then please get in touch with me. I will be more than happy to increase the quality of data in this overview.

Noble 30 Statistics

Now that we know the index, let’s have a look at some of the basic statistics 👇

Evolving the index

It took considerable time and effort to conduct the analysis and compile this list. I thoroughly examined over 200 stocks and their investor relations pages to ensure the accuracy of the data presented.

Now, it’s time to refine this list further and truly elevate these respected selections. Please inform me of any errors in the data or offer additional suggestions.

I will personally reassess the index every quarter. Dividend cuts would be the primary factor leading to a stock’s removal from this list, but let’s hope this won’t happen too often.

Final Thoughts

I truly believe that this is a great list of European dividend aristocrats and analyzing their yearly reports felt like watching a cool history show.

As Europeans, we should be proud of the companies in the Noble 30 index.

Some of them have made big positive impacts on society. Like Roche and Novartis, which have helped cure diseases that used to be a big problem!

Having said that, I hope I’ve given you some good ideas for stocks to add and strengthen your international dividend portfolio..

If you have any questions, suggestions, or just want to show some ❤️ for this index, feel free to leave a comment.

Thanks for checking it out!

Yours Truly,

European Dividend Growth Investor

European Dividend Stocks per Country articles

Check out the following articles if you would like to be inspired by more European dividend stocks.

The 20 best UK dividend stocks to buy in 2022 | + 3 bonus stocks

Dividend growth stocks at zero dividend withholding tax. Check these out!

Read the article…

The best Dutch dividend stocks to buy in 2022 | 15 stocks to consider!

Benefit from the relatively low dividend withholding tax in the Netherlands by investing in Dutch dividend stocks.

Read the article…

5 highest yielding French dividend stocks

France is known for juicy dividends, but are they fit-for-purpose for buy and hold investors?

Read the article…

5 highest yielding German dividend stocks

Germany has some real jewels as dividend growth stocks. But are the highest yielding also the best ones to own?

Read the article…

Quarterly Paying European Dividend Stocks

27 European Quarterly Dividend Stocks: the Ultimate List to Spread your Passive Income!

Yes, you can spread your passive income throughout the year by buying European dividend stocks that pay dividends on a quarterly basis.

Read the article…

Change Log

• 30-Apr-2020: I have removed Royal Dutch Shell from the list. They have announced to cut their dividend by 66% and this was their first dividend cut since the second world war. Read here my take on it.
• 25-May-2020: I have included Croda International plc to the list to replace Royal Dutch Shell. It’s a company that I wasn’t aware of earlier and should’ve been on the initial list. It ticks all the criteria.
• 29-Oct-2020: Sodexo SA announced to cut its dividend. Quote: “To protect the balance sheet given the severity of the Covid-19 downturn in activity, and the uncertainty as to the timing of recovery, and in solidarity with the teams, the Board has decided not to propose a dividend for Fiscal 2020 even if the Underlying net profit was positive.” I will seek a replacement in the upcoming days.
• 12-Nov-2020: Siemens announced a dividend cut when they announced their FY 2020 results. The company is being replaced by Castellum AB.
• 8-Jul-2021: Group Bruxelles Lambert and Sodexo cut it’s dividends last year. They are replaced by Fresenius SE and Fresenius Medical Care. Fresenius SE should’ve been on the list already in the first place.
• 11-July-2021: Danone SA and Red Electrica Corporation have cut their dividends this year (8% and 5% respectively). That’s why they have been replaced by Air Liquide SA and Novozymes A/S.
• 27-Mar-2023: Castellum AB and Fresenius Medical Care decided to cut their dividends. That’s why they have been replaced by CRH Plc and RelX Plc.
• 29-Apr-2024: Fresenius was legally obliged to suspend its dividend for 2023 after making use of the German Hospital Financing Act to mitigate increased energy costs. Fresenius has been replaced by DCC Plc
• 29-Apr-2024: Both DSM and Novozymes decided to merge with other companies in 2023. This broke their dividend growth track records and they have been replaced by AstraZeneca and BAE Systems respectively

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