30 real European Dividend Aristocrats in 2023 | European DGI (2024)

The noble 30 is a select group of real European Dividend Aristocrats that have at least 20 years of increasing or sustained dividends. Hence, I 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 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.

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

The Noble 30 – European Dividend Aristocrats Index

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 a long time, I have been jealous of 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 sustaineddividendsfor 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 loose 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 their dividends 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 a few that they didn’t increase their dividend. That’s OK because I expect them in such cases 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 their hereditary and are often attached to their land. Nobles have been given their social status and are usually still considered “commoners”. A good example of noblemen were Knights. I believe that this fits much better with my own philosophy of life!

Why just 30 European International Dividend Stocks?

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

30 stocks are also a perfect size to build an ETF for. It gives more than enough diversification and is much 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 ratios 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 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.

Auto-Invest in the Noble 30 Index

Are you interested in investing in all 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 started to auto-invest 250 euros on a monthly basis in my European Noble 30 Pie back in 2021.

Open now an commission-free investment account at Trading212 and build your own pie with fractional shares to invest in dividend growth stocks.

Choose at Trading212 the investment account to buy and sell dividend stocks, not a CFD account. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Noble 30 Statistics

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

Evolving the index

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 our 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 of 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 of 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 allow you to strengthen your international dividend stocks portfolio.

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

Thank you for stopping by!

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.

Quarterly Paying European Dividend Stocks

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.

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