Dividend Growth Portfolio Dividend History

30 of the best European Dividend Aristocrats in 2021

European Dividend Stocks

The noble 30 is a select group of European Dividend Aristocrats that have at least 20 years of increasing or sustained dividends. Hence, I actually consider these the best of the best International dividend stocks from Europe

The requirements for European Dividend Aristocrats are:

  • having shown resilience during the Great Recession. They have either increased or sustained their dividend since at least since 2006 (14 years now).
  • the company is of blue-chip nature, hence having at least a 5 billion market cap.

The list is limited to 30 dividend aristocrats and the companies that I have further analyzed include a hyperlink to the post.

The Noble 30 – European Dividend Aristocrats Index

  1. Nestle SA
  2. Unilever NV
  3. Munich Re AG
  4. Halma Plc
  5. Total SA
  6. Group Brussel Lambert NV ⚠ (dividend cut)
  7. Sage Group Plc
  8. Danone SA ⚠ (dividend cut -8%)
  9. L’Oreal SA
  10. Coloplast A/S
  11. Roche AG
  12. Wolters Kluwer NV
  13. Diageo Plc
  14. Henkel AG & Co KGaA
  15. Spirax-Sarco Engineering Plc
  1. SAP SE
  2. Croda International
  3. Chubb Ltd
  4. Koninklijke DSM NV
  5. Philips NV
  6. Red Electrica Corporacion
  7. Assa Abloy A/B
  8. Novartis AG
  9. Lindt & Sprungli AG
  10. Castellum AB
  11. Novo Nordisk A/S
  12. Fresenius Medical Care AG
  13. Hermes International
  14. Sanofi SA
  15. British American Tobacco

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


Table of Contents

A brief introduction
Why this name?
The Noble 30 Index – Main Statistics
Auto-invest in the Noble 30
Statistics
Final thoughts


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European dividend aristocrats – a brief introduction

For a long time I have been jealous at the US dividend aristocrats, because in my opinion there wasn’t really a true European equivalent.

For instance, US Dividend Aristocrats are stocks that must have at least 25 years of consecutive dividend increases and they must have a minimum market cap of $3 bln. European dividend aristocrats must have a minimum of increasing or sustained dividends for at least 10 consecutive years.

This is pretty “bleh” to me, because this doesn’t include the Great Recession from 2008-2009. It is very easy to grow dividends in the longest bull market ever, but how do we know that they are truly focused on paying out a growing dividend, even when hell is breaking lose and panic is in the streets?

10 years is therefore just too short for me and I am typically reluctant to invest in those companies. I want more!

That’s why I have selected 30 of the best European dividend aristocrats that have been growing or sustaining the dividend at least since before the Greatest Recession and have a market cap of more than 5 billion.

It is not that common for European companies to have such a track record. The main tradition of dividend policies in Europe is to pay out 50% of earnings. Hence why many dividends are cut again in times like this (pandemic).

Therefore, let me introduce to you the Noble 30!

Why this name?

The noble 30 are very special European dividend aristocrats. They have class, they are elite and they have been reliable so far when it comes to their dividend payments. They are often companies with a very long history, sometimes even dating back to the 19th century.

But they aren’t perfect either. Sometimes they had a year or few that they didn’t increase their dividend. That’s OK, because I expect them in such case at least to maintain it. It’s actually a bit misleading to call them an Aristocrat, because it creates quite some confusion with their US equivalent.

They have one thing in common though: they are true elite European dividend stocks!

Therefore I call them: the Noble 30.

I like this name much more, because aristocrats have their title due to hereditary and is often attached to their land. Nobles have been given their social status and are usually still considered as “commoners”. A good example of noblemen were Knights. I believe that this fits much better to my own philosophy to life!

Why just 30 European International Dividend Stocks?

Putting a limit on the amount of members makes it exclusive.

30 stocks is also a perfect size to build an ETF for. It gives more than enough diversification and it’s much more easier to track. These are also typically high quality companies with a strong focus on shareholder return.

Consider it the equivalent of the Dow Jones Index. Or better said, the Noble 30 Index 💪

The Noble 30 – Main Statistics

Stock prices fluctuate continuously and this affects therefore key ratio’s like dividend yield. Hence why I’m maintaining the main statistics in a Google Sheet. This is the best way for me to present you with the actual dividend yield and payout ratios.


Note:

* Years highlighted with an light orange color are stocks for which I’ve not been able to trackback 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.

Auto-Invest in the Noble 30 Index using Trading 212

Are you interested to invest at once in the whole Noble 30 as if it were an ETF?

Well, look no further, because it’s now possible by using Trading212! I just started to auto-invest 250 Euro on a monthly basis in my European Noble 30 Pie 👇

It already consists of 27 out of the 30 stocks in this list. 3 companies are not available yet, because Trading 212 is not able to access their markets yet. Hence, we’ll need to wait a bit longer for Assa Abloy AB, Coloplast A/S and Groep Brussel Lambert NV.  

Trading 212 Noble 30 pie
www.trading212.com/pies/l7IpdQLJVOPri2dnRyLE7Gz4fgRd

You must know that I’m typically quite conservative when it comes to using new brokers, especially when I haven’t done my full due-dilligence yet. Please be therefore aware that I haven’t tested all the ins-and-outs of the platform yet.

Having said that, if you are as curious as I am and if you would like to give Trading 212 a try then you have the option to get a free share up to 100 Euro by signing up via the following link: www.trading212.com/invite/Gc30tIQs

It would also give me a free share. Hence signing-up via that link is a great way to show your love for my content 😘


Noble 30 Statistics

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

Statistics Noble 30. 30 European dividend stocks

Evolving the index

I consider this list of European international dividend stocks a first MVP. It took me a long time and a lot of effort to do the analysis and get to this list. I have analyzed 200+ stocks and their investor relations pages to make sure that the data presented is as accurate as possible.

Now is the time to further improve this list and really evolve these noblemen. Let me know when you find any mistakes in the data or if you have any further suggestions.

I will personally review the index on a quarterly basis. Dividend cuts would be the main reason why a stock would drop from this list. Let’s cross fingers that this won’t happen too often.

Final Thoughts

I’m so happy that I finally finished my dividend history research for all these companies and many more!

I truly believe that this is a great list with European dividend aristocrats and it sometimes felt like watching a historical documentary when browsing through their annual reports.

I believe that as Europeans we can be really proud on the heritage of some of the companies in the Noble 30 index ⚔.

Some of these companies have strongly influenced society in very positive ways. Just think about the historical achievements of Roche and Novartis. Some illnesses are just a thing of the past now!

Having said that, I just hope to have inspired you with some stock ideas which allows you to strengthen your international dividend stocks portfolio.

Would you have any questions, suggestions or if you just want to show some ❤ for this index, then please let me know via the comment section.

Thank you for stepping by!

Yours Truly,

European Dividend Growth Investor


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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.

Now also on YouTube (22-Dec-2020)

Disclaimer

I’m not a certified financial planner/advisor nor a certified financial analyst nor an economist nor a CPA nor an accountant nor a lawyer. I’m not a finance professional through formal education. I’m a person who believes and takes pride in a sense of freedom, satisfaction, fulfillment and empowerment that I get from being financially competent and being conscious managing my personal money. The contents on this blog are for informational and entertainment purposes only and does not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my blog is appropriate for you or anyone else. By reading this blog, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information provided on this blog.

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Arun
Arun
4 months ago

Its good to know about these,but it would be better if they were in the format of the US dividend champions with all other parameters such as ex dividend date, ratios, etc

Mischu
10 months ago

Great research! Thanks

Libor
Libor
10 months ago

Hi, I found your site recently and it has been very helpful because there are not many investors blogging about EU stocks. Keep it up

Mr. Groeigeld
10 months ago

That’s a very nice list you have created! Indeed it is hard to find the same sort of dividend aristocrats list for EU companies. Mostly because they tend to adjust their dividend in hard times more easily than in the US.
Keep up the good work!

Jan
Jan
10 months ago

I enjoy your blog very much! Not many others who write specifically about our noble European corporations, some of which even have survived the devastation of two world wars. That takes some tenacity. When you did your tease arch, did you by any chance manage to single out the companies who have kept their dividends up all the way from the early 1990:s? There are articles about the American Dividend Aristocrats showing that only some 8 of their companies in fact have managed to be on the list for that long time. Would love to see your statistics on that!… Read more »

Jan
Jan
10 months ago

PS. Could you define the “Years” in the list: is it years of dividends in general, or years of increased dividends, or years of increased and/or sustained dividends. 🙂

Jose
Jose
10 months ago

Hi!

Thanks for sharing all his hard work.

There are a couple of Spanish companies that fulfill the criteria:

– Enagas (5.5B and increasing the dividend since 2003). You can find the dividend history in the following link:
https://www.enagas.es/enagas/en/AccionistasEInversores/InformacionGeneral/Dividendos

– Inditex (73B and increasing the dividend since 2001). Although due to Covid19 the dividend was recently postponed.

Keep up the good work!

Eric
Eric
9 months ago

Greatly appreciated the work you put in building this list, and how you give it broader meaning and historical perspective. Kudos all around!
Eric

Roger Fox
9 months ago

I am grateful for this list. You have done a great job. I am new to investing and receiving dividends. I study all possible ways of investing. Thank you for sharing this information
about EU stocks.

Anders
Anders
8 months ago

hi there.
Good job on a great list. I have quite a few of Them, but surprised no more British companies are on it. Going forward i Would afvise you to relax a few of the limits to include super strong financial insurance companies like AXA SA, Allianz and especially CNP Assurances have an amazing track record. Remember their dividends are currently postponed, but not Cancelled. Its up to the French insurance regulator by October, but I Would fully expect Them to pay by end of the year.

Best regards,
Anders

Milos Markovic
Milos Markovic
8 months ago

Great list great job. Just one name missing in my opinion. Rio Tinto.

Milos Markovic
Milos Markovic
Reply to  European DGI
8 months ago

Plus no double tax on dividend as a benefit 😁

Financial Independence
8 months ago

Europe is classified as old world, so that fact that the bar is lowered, means that Dividend Aristocrats do not feel well in western europe. I am sad to see that old tobaco killers are still doing well.

I recently reviewed random sample of US Dividend Aristocrats on my site and significant portion of them underperform S&P500 index even with dividends reinvested.

Val
Val
8 months ago

I did a quick check and it seems LISN.SW have decrease their dividend from CHF 1,750.00 to CHF 1,050.00

Val
Val
Reply to  European DGI
6 months ago

Sorry, I looked it up on Yahoo Finance, but Lindt website is probably more accurate

https://finance.yahoo.com/quote/LISN.SW?p=LISN.SW&.tsrc=fin-srch&guce_referrer=aHR0cHM6Ly9maW5hbmNlLnlhaG9vLmNvbS8_Z3VjZV9yZWZlcnJlcj1hSFIwY0hNNkx5OTNkM2N1WjI5dloyeGxMbU52YlM4Jmd1Y2VfcmVmZXJyZXJfc2lnPUFRQUFBTUg2alVkbUpYVUxCOG9CTDdmQmduV3U3TjFHQmJ1TklxQXZaa1dUSmlJcHFZLWZFM1lKOElIMlRHcEt1YTZ1N05yTm0wUjFHdGszeTdCRkJWaDUzMVBHVVNZYkg5bENHb1VtMXFpMlVkNG1GRmd5ZDRiWld0QXUxNE1FSk5UNnlTTmdFeldObVo5RnphVUMzNC04eEtGZm12ZFdZWDUzcm40TVAyX1dXeG1yJl9ndWNfY29uc2VudF9za2lwPTE1OTY4ODM0NDg&guce_referrer_sig=AQAAAFqHdT6Rlx1ChwFPIc-hr6_XnhRVbiB6u1R98h1gdEIxjeWwtAvuwQMbgUKOx94niw4lRxN9Syv6YZF8J4CWp3zyJs4RQ8rNXz0ijX140zdwtsvsYVySPy9fNMihm_XmWMmOpEiSjmFdVl8VJrvcHXA_OgrLmmsVuakI2fJYe5XH&_guc_consent_skip=1596883464

DDGI
DDGI
6 months ago

Hi there, great blog and super job put in it…congrats!
I have a question: have you figured out how to handle the currency risk in your strategy? I guess you live in EUR, so what if CHF and/or USD depreciate in the long run?
I am still struggling in trying to cope with this matter and I am wondering if it would make sense to just invest in stocks that provide dividends in my currency.
Many thanks!

Swiwi
6 months ago

Hi, this is a great index.
Under the “Facts about the index” you show a Swedish flag, but in the list I can’t find any Swedish companies. I assume they got replaced after the fact sheet was printed.
There are however two Swedish companies you could look into for this list. Castellum and Hufvudstaden. Both are real estate companies with 20+ years of dividend growth.

Farfett_il-lejl
Farfett_il-lejl
3 months ago

Thank you so much for this. I have used your link to sign up for a trading212 account and I’ve recreated the pay. I’m going to start investing a small amount (€100-€200) every month into it and see how it goes 🙂

JaronCorleone
JaronCorleone
3 months ago

Very interesting research and data. To further diversify our portfolios, here are great ideas. In fact some of them did not know them. Thank you for your great work.

European DGI
Admin
Reply to  JaronCorleone
1 month ago

Glad you like it Jaron! It’s an interesting index, but it doesn’t mean indeed that these are buy recommendations. Just some ideas to consider 🙂

Abhinav
Abhinav
2 months ago

Hi, First of all, a big thank you for consolidating so many points on your website. It is really interesting to read the way you have explained. I am very new to investing in stocks and have a question related to investing in the Noble 30. If I start a monthly plan of say 250 euro per month then do we get the dividend yield as the average of the 30 stocks?

Milos Markovic
Milos Markovic
2 months ago

Why not add CAGR column? It would be a nice added value!

European DGI
Admin
Reply to  Milos Markovic
2 months ago

Hi Milos, which CAGR? Of the EPS, FCF or the Dividend? Let me know and I might add it 🙂

Milos Markovic
Milos Markovic
Reply to  European DGI
2 months ago

I only know this https://www.investopedia.com/terms/c/cagr.asp
You could use 5 and 10 years time frame

Gee Bee
Gee Bee
1 month ago

The Google Spreasheet has been actualized last on November last year……how do we get to the current Google Sheet ? Thank you

European DGI
Admin
Reply to  Gee Bee
1 month ago

Hi Gee Bee, i just updated it. Thanks for pointing out. Unfortunately I didn’t find a way of automating the dividend details, because i don’t know of a reliable source. Hence, i keep this one up-to-date manually, typically around dividend announcements of the different companies.

Ni vi
Ni vi
1 month ago

Group Brussel Lambert NV is going to cut the dividend

European DGI
Admin
Reply to  Ni vi
1 month ago

Indeed, Thanks for mentioning it. I indicated in the list and I will find another company after all the upcoming dividend announcements to replace it.

Muchos gracias!

Libor
Libor
19 days ago

Hi, Fresenius took beating last week and currently approaching its low of 55 Eur from 3/2020 and 1/2019…looking at news from last week regarding the drop and covid is to blame again.

Milos Markovic
Milos Markovic
19 days ago

Hi man.
Here is an idea. How about adding 5/10 ratio?

I can tell you about the dividend “momentum”.

Take care

MM

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