41 actions internationales de premier plan


Le marché boursier américain s'est déchaîné en 2019, affichant une année bien supérieure à la moyenne malgré les accrochages commerciaux, la morosité économique mondiale et le tumulte politique. C'est génial pour ceux qui ont déjà investi dans des actions, mais quiconque a de l'argent frais à dépenser se retrouve à regarder beaucoup d'actions surévaluées avec des rendements sévèrement déprimés.

<p type = "text" content = "Vous connaissez certainement les S & amp; P Dividend Aristocrats – 57 actions de dividende qui ont augmenté leurs paiements depuis 25 ans ou plus. Eh bien, les aristocrates européens du dividende sont d'une veine similaire. Pour être considérée comme une redevance européenne, une entreprise ne doit afficher que 10 années ou plus de dividendes stables ou croissants. Mais ces sociétés offrent également aux investisseurs une diversification et une valorisation beaucoup plus raisonnable que nombre de leurs frères américains. "Data-reactid =" 31 "> Vous connaissez certainement les aristocrates S&P Dividend – 57 actions de dividendes qui ont augmenté leurs versements de 25 ou plus d'années. Eh bien, les aristocrates européens de dividendes sont d'une veine similaire. Pour être considérés comme des redevances européennes, une entreprise doit afficher seulement 10 ans ou plus de dividendes stables ou croissants. Mais ces sociétés offrent également aux investisseurs une diversification et bien plus encore. une évaluation raisonnable que beaucoup de leurs frères américains.

Un autre avantage: les aristocrates européens de dividendes rapportent plus – sensiblement plus. Au moment d'écrire ces lignes, ils rapportaient collectivement 3,2%, contre 1,9% pour les aristocrates S&P Dividend.

Lisez la suite pour explorer les 41 aristocrates européens de dividendes.

<p type = "text" content = "Ne laissez pas le manque de rendement vous effrayer. Alcon (ALC, 56,33 $), une récente scission de Novartis (NVS), lancera son propre cycle de paiement de dividendes en 2020. "data-reactid =" 57 "> Ne laissez pas le manque de rendement vous effrayer. Alcon (ALC, 56,33 $), une récente scission de Novartis (NVS), commencer son propre cycle de paiement de dividendes en 2020.

Alcon est le leader mondial des dispositifs de soins oculaires avec des activités complémentaires dans les soins chirurgicaux et visuels. La société basée à Genève, en Suisse, a généré l'an dernier plus de 7 milliards de dollars de ventes réalisées dans plus de 140 pays. Et il vole de lui-même maintenant, après que la société mère Novartis a créé l'entreprise en avril.

Les soins oculaires sont une industrie de 23 milliards de dollars – une croissance prévue de 4% par an en raison du vieillissement de la population, de l'augmentation de la classe moyenne dans les marchés en développement, de l'augmentation du temps d'écran et de l'amélioration des options de traitement. Alcon, qui est déjà un acteur dominant dans le domaine des soins oculaires, compte plus de 100 produits actifs en préparation pour stimuler sa croissance future. Elle a également investi dans l'expansion de ses capacités de fabrication avec une nouvelle plate-forme de fabrication de lentilles de contact qui réduit les coûts et augmente la production de 40%.

Au cours du premier semestre 2019, les ventes d'Alcon ont augmenté de 5% à taux de change constant, mais le résultat par action (BPA) a baissé de 11% en raison de taux de change moins favorables. Néanmoins, Alcon prévoit que la croissance des ventes s'accélérera l'année prochaine à la suite du lancement de nouveaux produits. Il anticipe également des gains de marge importants grâce à l'amélioration de l'efficacité opérationnelle et à un mix de produits plus favorable.

* Alcon n'a pas encore versé de dividende en espèces depuis sa séparation de Novartis. Son premier versement, qui sera basé sur 10% des revenus de 2019, est attendu en 2020.

** Alcon partage le bilan de sa société mère de 22 années consécutives de croissance ininterrompue du dividende.

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Valeur marchande: 14,1 milliards de dollars

Rendement en dividendes: 1,6%

Augmentation consécutive du dividende annuel: 15

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Ashtead Group basé au Royaume-Uni (CENDRIER, 123,66 $) est une entreprise internationale de location de matériel de premier plan avec des opérations importantes en Amérique du Nord. La société loue des équipements de construction et industriels à ses clients pour des projets de construction, des divertissements et des événements en direct, la maintenance des installations et des interventions d'urgence. "Data-reactid =" 90 "> Le groupe britannique Ashtead (ASHTY, 123,66 $) est un leader international société de location d'équipement ayant des activités importantes en Amérique du Nord. L'entreprise loue des équipements de construction et industriels à des clients pour des projets de construction, de divertissement et d'événements en direct, d'entretien des installations et d'intervention d'urgence.

L'opération Sunbelt aux États-Unis du groupe Ashtead est la deuxième plus grande entreprise de location d'équipement en Amérique, avec 773 emplacements, et elle représente 85% des revenus. Sunbelt possède également 67 emplacements au Canada, ce qui représente 4% de la part de marché du Canada – et un montant égal de revenus Ashtead. Le reste des ventes est généré par A-Plant: la plus grande entreprise de location d'équipement du Royaume-Uni, avec 196 emplacements de location.

Au cours de l'exercice 2019, les revenus de location d'équipement ont augmenté de 18% d'une année sur l'autre et le bénéfice par action a bondi de 33%. C'est en grande partie grâce à Sunbelt US, dont les ventes ont augmenté de 19%; Les revenus de Sunbelt Canada ont augmenté de 55%.

Le groupe Ashtead se développe à la fois par le développement de nouveaux sites et par des acquisitions complémentaires. La société a conclu 24 acquisitions l'an dernier, principalement aux États-Unis et au Canada, et a également étendu ses activités spécialisées.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Les actions ASHTY ont connu une année 2019 remarquable, avec 47 photos % supérieur contre seulement 16% pour le FNB iShares MSCI Royaume-Uni (EWU). La dernière hausse de dividende de la société a été une hausse de 10% pour son dividende semestriel 2020. (Comme de nombreuses sociétés européennes, Ashtead Group paie deux fois par exercice – un dividende intérimaire plus petit et un paiement final plus important.) "Data-reactid =" 94 "> Les actions ASHTY ont connu une année 2019 remarquable, enregistrant une hausse de 47% contre seulement 16% pour le FNB iShares MSCI Royaume-Uni (EWU). La plus récente hausse de dividende de la société a été une augmentation de 10% pour son dividende semestriel 2020. (Comme de nombreuses sociétés européennes, Ashtead Group paie deux fois par exercice – un dividende intérimaire plus petit et un paiement final plus important.)

<h3 class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "VOIR AUSSI: Les 30 meilleurs fonds communs de placement dans les régimes de retraite 401 (k)"data-reactid =" 95 "> VOIR AUSSI: Les 30 meilleurs fonds communs de placement dans les régimes de retraite 401 (k)

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Courtoisie Alexandre Dulaunoy via Wikimedia Commons"data-reactid =" 113 ">Avec l'aimable autorisation d'Alexandre Dulaunoy via Wikimedia Commons

Valeur marchande: 25,4 milliards de dollars

Rendement en dividendes: 1,8%

Augmentation consécutive du dividende annuel: 19

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Associated British Foods (ASBFY, 32,05 $) est un groupe mondial diversifié de produits alimentaires, d'ingrédients et de détail avec des opérations dans 52 pays. "Data-reactid =" 118 "> Associated British Foods (ASBFY, 32,05 $) est un groupe mondial diversifié de produits alimentaires, d'ingrédients et de détail avec des opérations dans 52 pays. des pays.

ABF exerce ses activités dans cinq secteurs d'activité: sucre, agriculture, vente au détail, épicerie et ingrédients. Son activité AB Sugar est un leader mondial de la production de sucre, avec une capacité de 4 millions de tonnes par an. Pendant ce temps, ses activités d'épicerie comprennent des marques connues telles que l'huile de maïs Mazola, le sirop de maïs Karo, le thé Twinings et l'édulcorant Truvia.

Le BPA ajusté a augmenté de 2% d'une année sur l'autre au cours de l'exercice 2019, sur des ventes qui se sont améliorées de 1%. Bien que ce soit une croissance maigre, c'est une croissance – meilleure que son recul de 2018.

Quatre des cinq activités de la société ont enregistré une croissance de leurs ventes en 2019, avec une baisse du sucre grâce en partie à la déréglementation du marché de l'Union européenne. La croissance du bénéfice d'exploitation ajusté a été tirée par l'épicerie et la vente au détail. Ce dernier opère sous la bannière Primark – l'un des plus grands détaillants de vêtements en Europe, avec 373 magasins dans 11 pays. Il a également une petite présence américaine.

Le dividende d'Associated British Foods a augmenté de 37% entre 2015 et 2019, bien que sa dernière hausse n'ait été que de 3%. Néanmoins, il a également marqué la 19e année consécutive de croissance des versements.

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Valeur marchande: 24,3 milliards de dollars

Rendement en dividendes: 3,8%

Augmentation consécutive du dividende annuel: 15

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "BAE Systems (BAESY, 30,32 $) est le plus grand entrepreneur de défense du Royaume-Uni et un important fournisseur d'armes de l'armée américaine, ce qui représente plus de 40% de ses ventes annuelles. Le secteur d'activité principal de BAE System est l'aviation militaire, mais la société a également des opérations importantes dans les navires maritimes, les véhicules terrestres militaires et la cyber-intelligence. "Data-reactid =" 146 "> BAE Systems (BAESY, 30,32 $) est le plus grand du Royaume-Uni. entrepreneur de défense et fournisseur majeur d'armes à l'armée américaine, ce qui représente plus de 40% de ses ventes annuelles. Le secteur d'activité principal de BAE System est l'aviation militaire, mais la société a également des opérations importantes dans les navires maritimes, les véhicules terrestres militaires et la cyber-intelligence. .

Les revenus ont augmenté de près de 7% au premier semestre 2019 et le BPA s'est amélioré de 11% en raison de la montée en puissance des programmes de production des systèmes de guerre électronique des avions F-35, des chasseurs à réaction Typhoon et Hawk, des transporteurs Dreadnought de la Royal Navy britannique. et des véhicules de combat amphibies pour les Marines américains. L'entreprise s'est développée dans un marché adjacent en faisant l'acquisition de Riptide Autonomous Solutions, un développeur de véhicules sous-marins sans pilote.

Les contrats récemment accordés à BAE Systems incluent 2,7 milliards de dollars de la marine américaine pour des systèmes d'armes de précision avancés, 437 millions de dollars de l'armée américaine pour fournir un support open source pour le renseignement de l'armée et une extension de 269 millions de dollars pour la production de véhicules de combat Bradley.

BAE Systems verse des dividendes semestriellement et a augmenté les paiements 15 années de suite, y compris une hausse de 2% l'an dernier. En juillet, la société a augmenté son acompte de 4,4%.

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Valeur marchande: 90,4 milliards de dollars

Rendement en dividendes: 6,6%

Augmentation consécutive du dividende annuel: 21

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "British American Tobacco (RTC, 39,40 $) est le deuxième fabricant de cigarettes au monde en termes de ventes, derrière Philip Morris International (PM). La société opère dans 180 pays et occupe une position de leader sur le marché dans plus de 50 pays. Les ventes de cigarettes sont largement tirées par cinq marques clés: Dunhill, Kent, Lucky Strike, Pall Mall et Rothmans. BTI a également ajouté des marques américaines populaires telles que Newport, Camel et Natural American Spirit grâce à l'acquisition de Reynolds American en 2017. "data-reactid =" 173 "> British American Tobacco (BTI, 39,40 $) est le deuxième fabricant de cigarettes au monde. par les ventes, derrière Philip Morris International (PM). La société opère dans 180 pays et occupe une position de leader sur le marché dans plus de 50 pays. Les ventes de cigarettes sont largement tirées par cinq marques clés: Dunhill, Kent, Lucky Strike, Pall Mall et Rothmans. BTI a également ajouté des marques américaines populaires telles que Newport, Camel et Natural American Spirit grâce à l'acquisition de Reynolds American en 2017.

Les ventes de cigarettes sont en baisse et les compagnies de tabac comptent sur de nouvelles catégories de produits comme les cigarettes électroniques et le tabac oral pour générer de la croissance. British American Tobacco possède deux marques de cigarettes électroniques leaders sur le marché (Vype et Vuse) et plusieurs marques de tabac oral populaires (Epok, Lyft et Velo). La société s'attend à ce que les nouvelles catégories de produits génèrent plus de 6 milliards de dollars de ventes annuelles d'ici 2024.

À cette fin, BTI a rationalisé ses opérations pour devenir plus agile et libérer des flux de trésorerie pouvant être investis dans de nouveaux produits. L'entreprise a récemment annoncé qu'elle supprimerait 2 300 emplois, réduirait les couches de gestion et se regrouperait en divisions moins nombreuses mais plus importantes.

Les revenus et le BPA ont chacun augmenté de 5% au premier semestre 2019 en raison de la croissance de 63% des ventes de produits de vapotage et de 274% de la croissance des revenus des produits du tabac oral. Pour l'ensemble de l'année, British American Tobacco prévoit une croissance des ventes de 3% à 5%, une croissance des bénéfices de 5% à 7% et une croissance élevée du BPA à un chiffre.

Cet aristocrate européen de dividendes est passé de dividendes semestriels à des dividendes trimestriels en 2018. Il a augmenté son versement trimestriel de 4% en 2019, enregistrant sa 21e augmentation annuelle consécutive.

<h3 class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "VOIR AUSSI: 20 meilleurs titres de retraite à acheter en 2020"data-reactid =" 178 "> VOIR AUSSI: 20 meilleures actions de retraite à acheter en 2020

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Courtoisie Graham Richardson via Flickr"data-reactid =" 196 ">Avec la permission de Graham Richardson via Flickr

Valeur marchande: 9,4 milliards de dollars

Rendement en dividendes: 2,3%

Augmentation consécutive du dividende annuel: 26

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "British firm Bunzl (BZLFY, 27,79 $) est un distributeur international de produits d'emballage et de nettoyage, d'équipements de sécurité et de produits consommables pour les soins de santé. Ses principaux clients sont les transformateurs d'aliments, les restaurants, les épiceries, les entreprises industrielles, les entreprises de gestion des installations, les chaînes de vente au détail et les établissements de santé. En bref, les clients comptent sur Bunzl pour réduire leurs coûts d'approvisionnement et leurs besoins en fonds de roulement. "Data-reactid =" 201 "> L'entreprise britannique Bunzl (BZLFY, 27,79 $) est un distributeur international d'emballages et de produits de nettoyage, d'équipements de sécurité et de santé- soins consommables. Ses principaux clients sont les transformateurs de produits alimentaires, les restaurants, les épiceries, les entreprises industrielles, les entreprises de gestion des installations, les chaînes de vente au détail et les établissements de santé. En bref, les clients comptent sur Bunzl pour réduire leurs coûts d'approvisionnement et leurs besoins en fonds de roulement.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Alors que Bunzl est un opérateur global, environ 60% des ventes proviennent d'Amérique du Nord. Une grande partie de cette portée internationale provient de fusions & amp; acquisitions (M & amp; A), qui ont également été le principal moteur de la croissance des entreprises. Depuis 2004, Bunzl a clôturé 157 acquisitions – Oui, tu l'as bien lu – étendre sa portée de 12 à 31 pays. Les marchés desservis par Bunzl sont très fragmentés, ce qui crée des opportunités permanentes pour pénétrer de nouveaux pays et catégories de produits via des acquisitions. "Data-reactid =" 202 "> Bien que Bunzl soit un opérateur mondial, environ 60% des ventes proviennent d'Amérique du Nord. cette portée internationale provient des fusions et acquisitions (M&A), qui ont également été le principal moteur de la croissance des entreprises. Depuis 2004, Bunzl a conclu 157 acquisitions – oui, vous avez bien lu – étendant sa portée de 12 à 31 pays. les marchés desservis par Bunzl sont très fragmentés, ce qui crée des opportunités permanentes pour pénétrer de nouveaux pays et catégories de produits via des acquisitions.

Bunzl a été un moteur de croissance à long terme, offrant une croissance annuelle moyenne des ventes de 10% et une expansion du BPA ajusté de 11% au cours des 15 dernières années. Il a également amélioré son dividende semestriel pendant 26 années consécutives.

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Valeur marchande: 11,3 milliards de dollars

Rendement en dividendes: 1,9%

Augmentation consécutive du dividende annuel: 10

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "England's Burberry Group (BURBY, 27,71 $) est un détaillant mondial de vêtements de luxe et d'accessoires en cuir, connu dans le monde entier pour son emblématique plaid Burberry. La société exploite 431 magasins en propriété et 44 magasins franchisés dans 44 pays. La plus grande partie des ventes du Groupe Burberry (41%) provient de ses magasins en Asie-Pacifique, suivis par l'Europe-Moyen-Orient-Inde-Afrique (36%) et l'Amérique (23%). "Data-reactid =" 227 " > Le groupe britannique Burberry (BURBY, 27,71 $) est un détaillant mondial de vêtements de luxe et d'accessoires en cuir, connu dans le monde entier pour son emblématique plaid Burberry. L'entreprise exploite 431 magasins en propriété et 44 magasins franchisés dans 44 pays. La plus grande partie des ventes du groupe Burberry ( 41%) sont générés par ses magasins en Asie-Pacifique, suivis par l'Europe-Moyen-Orient-Inde-Afrique (36%) et l'Amérique (23%).

Il y a deux ans, l'entreprise a commencé à mettre en œuvre un plan pluriannuel pour redynamiser sa marque, attirer davantage d'acheteurs de la génération Z et de génération Z et réduire les coûts. Burberry Group a recruté l'un des meilleurs créateurs de mode français pour créer une nouvelle collection de vêtements et valoriser sa marque. La nouvelle collection de vêtements a alimenté une croissance des ventes à deux chiffres pour les activités de confection de l'entreprise au cours du trimestre de juin, avec de nouveaux modèles représentant 50% de l'offre de produits. Le Groupe Burberry a également profité des ventes vigoureuses en Chine, qui ont généré une croissance élevée à un chiffre pour ses magasins asiatiques.

L'entreprise est en voie de moderniser 80 magasins phares dans les grandes villes d'ici 2020 et a déjà achevé la mise à niveau de 23 magasins. Il supprime également des actifs non essentiels et prévoit de fermer 38 magasins sous-performants. Pour consolider sa perception en tant que marque de luxe, Burberry Group réduit l'espace dans les grands magasins américains de taille moyenne et supprime progressivement les points de vente non luxueux.

Le groupe Burberry a commencé à verser des dividendes en 2007 et a augmenté ses dividendes pendant 10 années consécutives. Le versement annuel a augmenté de 3% en 2019, un ralentissement par rapport à 6% en 2018.

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Valeur marchande: 24,6 milliards de dollars

Rendement en dividendes: 2,2%

Augmentation consécutive du dividende annuel: 23

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Coloplast du Danemark (CLPBY, 11,59 $) est le leader mondial des produits de stomie et d'incontinence. Ce ne sont pas de jolis marchés, mais ils se développent plus rapidement que le marché médical global. L'entreprise occupe également les cinq premières places dans le domaine des soins des plaies et de l'urologie interventionnelle. Coloplast génère 60% des ventes en Europe, 23% dans d'autres pays développés et 17% dans les marchés émergents. "Data-reactid =" 254 "> Le Danemark, Coloplast (CLPBY, 11,59 $), est le leader mondial des produits pour stomisés et incontinence. Ils ' Ce ne sont pas de jolis marchés, mais ils se développent plus rapidement que le marché médical global. La société occupe également les cinq premières places en soins des plaies et en urologie interventionnelle. Coloplast réalise 60% des ventes en Europe, 23% dans les autres pays développés et 17% en marchés émergents.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Le domaine de l'urologie interventionnelle a connu une forte croissance grâce à Coloplast a récemment envisagé de vendre cette entreprise après que la FDA l'ait commandée et son principal rival, Boston Scientific (BSX) de cesser de vendre des mailles chirurgicales pour la réparation transvaginale, qui ont fait l'objet de poursuites judiciaires. La société a finalement décidé de maintenir son activité d'urologie interventionnelle. "Data-reactid =" 255 "> L'activité d'urologie interventionnelle a connu une forte croissance en raison des ventes de ses implants péniens de marque Titan. Coloplast a récemment envisagé de vendre cette activité après que la FDA l'ait ordonnée. et son rival en chef, Boston Scientific (BSX), de cesser de vendre des maillages chirurgicaux pour la réparation transvaginale, qui ont fait l'objet de poursuites judiciaires. La société a finalement décidé de maintenir son activité d'urologie interventionnelle.

Coloplast a enregistré une croissance de 9% de ses ventes et de ses bénéfices d'exploitation au cours de l'exercice 2019, mais les frais de contentieux ponctuels ont fait en sorte que le BPA est demeuré stable d'une année sur l'autre. Le flux de trésorerie disponible par action s'est amélioré de 10% et la société a récompensé les investisseurs avec une hausse de 6% du dividende. Cela a entraîné la 23e augmentation consécutive du dividende de Coloplast – assez longue chez les aristocrates européens du dividende.

Coloplast s'attend à ce que de nouveaux produits génèrent des gains de ventes de 7% à 8% l'an prochain et investit dans de nouvelles technologies telles qu'une nouvelle plate-forme de cathéter pour les soins de l'incontinence afin d'assurer une croissance à plus long terme.

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Valeur marchande: 38,2 milliards de dollars

Rendement en dividendes: 2,1%

Augmentation consécutive du dividende annuel: 18

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Groupe de boussole basé au Royaume-Uni (CMPGY, 24,08 $) est un leader mondial des services alimentaires avec des opérations dans 45 pays et une présence sur place dans plus de 55 000 sites clients. La société sert plus de 5,5 milliards de repas par an à un mélange de clients de 38% d'affaires et de fabrication, 23% de soins de santé et de personnes âgées, 20% d'éducation, 12% de sports et loisirs et 7% de défense et offshore. "Data-reactid =" 281 "> Le groupe britannique Compass (CMPGY, 24,08 $) est un leader mondial des services alimentaires avec des opérations dans 45 pays et une présence sur place dans plus de 55 000 emplacements clients. La société sert plus de 5,5 milliards de repas par an à un éventail de clients 38% affaires et fabrication, 23% soins de santé et seniors, 20% éducation, 12% sports et loisirs et 7% défense et offshore.

L'Amérique du Nord est le principal marché de l'entreprise, représentant 62% des revenus. L'Europe représente 24% des ventes et le reste du monde 14%.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Compass Group fournit des services de restauration sur place aux grands -nommez les clients qui incluent Google, Microsoft (MSFT), Intel (INTC), Boeing (BA) et des dizaines d'autres sociétés du Fortune 500. La stratégie de croissance préférée de l'entreprise est organique, mais elle n'a pas peur de faire des acquisitions lorsqu'elle peut ajouter de nouvelles capacités ou évoluer et obtenir un retour sur investissement dans les deux ans. "Data-reactid =" 283 "> Compass Group fournit des services de restauration sur place aux grands clients qui incluent Google, Microsoft (MSFT), Intel (INTC), Boeing (BA) et des dizaines d'autres sociétés du Fortune 500. La stratégie de croissance préférée de l'entreprise est organique, mais elle n'a pas peur de faire des acquisitions lorsqu'elle peut ajouter nouvelles capacités ou évolutivité et obtenez un retour sur investissement dans les deux ans.

Ses revenus pour l'exercice 2019 ont augmenté de 8,8% d'une année sur l'autre, dont une croissance organique des ventes de 6,4% qui a dépassé ses attentes pour l'année. La société a noté une faiblesse en Europe, où elle prévoit de réduire les coûts, mais une force en Amérique du Nord et une amélioration dans le reste du monde. Le BPA s'est amélioré de 6% en glissement annuel, renforçant son cash-flow libre de 9,3%.

Cela s'est naturellement répercuté sur son dividende semestriel, qu'il a augmenté de 6,1% pour marquer sa 18e augmentation consécutive.

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Valeur marchande: 8,5 milliards de dollars

Rendement en dividendes: 1,7%

Augmentation consécutive du dividende annuel: 18

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Britain's Croda International (COIHY, 32,81 $) produit des produits chimiques spéciaux de haute performance qui sont utilisés dans la fabrication d'aliments, les produits de soins personnels, les sciences de la vie, les technologies de performance et les applications chimiques industrielles. Les deux plus grandes entreprises de la société – les produits de soins personnels et les technologies de performance – représentent ensemble les deux tiers des ventes. "Data-reactid =" 309 "> La société britannique Croda International (COIHY, 32,81 $) produit des produits chimiques spéciaux de haute performance utilisés dans les aliments. fabrication, produits de soins personnels, sciences de la vie, technologies de la performance et applications chimiques industrielles. Les deux plus grandes entreprises de la société – les produits de soins personnels et les technologies de la performance – représentent ensemble les deux tiers des ventes.

L'Europe et le Moyen-Orient représentent la majorité des ventes de Croda International, mais la société a également une présence croissante en Amérique du Nord, qui a contribué à 30% des revenus l'an dernier.

Les produits nouveaux et protégés ont été un catalyseur de la récente croissance de Croda. Les ventes de nouveaux produits ont augmenté six années consécutives et deux fois plus rapidement que l'ensemble du portefeuille. Dans le segment des soins personnels, Croda International élargit ses offres en matière de protection solaire, anti-âge et de bouclage et défrisage des cheveux.

Au cours du premier semestre 2019, les ventes de la société ont augmenté de 2%, mais le BPA a diminué de 2% en raison de la hausse des intérêts débiteurs. Les ventes de produits de soins personnels ont été affectées négativement par le différend commercial entre les États-Unis et la Chine, et les ventes dans le secteur des technologies de performance ont ralenti en raison de l'affaiblissement des marchés finaux de l'automobile et des polymères.

Néanmoins, la réduction des dépenses en capital a permis à Croda de générer un flux de trésorerie disponible 50% plus élevé, et la société prévoit un second semestre plus fort en raison de la capacité de production supplémentaire mise en ligne, ainsi que des lancements de nouveaux produits.

COIHY International a augmenté son dividende chaque année depuis 2001. Les dividendes sont payés semestriellement, et la société verse occasionnellement un dividende spécial pour démarrer. En excluant ces versements spéciaux, le dividende annuel 2018 de la société s'est amélioré de 7% et a augmenté le dividende intérimaire de 4% en août.

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Valeur marchande: 97,8 milliards de dollars

Rendement en dividendes: 2,2%

Augmentation consécutive du dividende annuel: 21

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "UK Firme Diageo (DEO, 160,70 $) est une entreprise mondiale de boissons alcoolisées qui commercialise dans plus de 180 pays. La société possède de nombreux alcools les plus vendus, notamment le whisky Johnnie Walker, le Crown Royal, le rhum Captain Morgan, la vodka Smirnoff, le gin Tanqueray et Gordons, la liqueur Bailey's et la bière Guinness. "Data-reactid =" 337 "> La société britannique Diageo (DEO, 160,70 $ ) est une entreprise mondiale de boissons alcoolisées qui commercialise ses produits dans plus de 180 pays. Elle possède de nombreux alcools les plus vendus, notamment le whisky Johnnie Walker, le Crown Royal, le rhum Captain Morgan, la vodka Smirnoff, le gin Tanqueray et Gordons, la liqueur Bailey's et la bière Guinness.

En août, Diageo s'est lancé dans le segment des boissons non alcoolisées en acquérant une participation dans Seedlip, la première marque mondiale de spiritueux non alcoolisés distillés. Les boissons Seedlip se trouvent dans plus de 7 500 bars, restaurants et hôtels dans 25 pays. La société a également étendu sa présence en Inde en augmentant sa participation dans United Spirits Limited, la plus grande société indienne de boissons alcoolisées en volume et la deuxième plus grande société de spiritueux au monde.

Diageo vise à accélérer la croissance de ses marques premium à marge plus élevée dans son portefeuille, et ce, en réduisant les marques non essentielles. Il a récemment rejeté 19 de ces marques, notamment le whisky canadien VO de Seagram et les schnaps Goldschlager. L'entreprise développe également ses activités en Chine en s'associant à un distillateur local pour lancer une nouvelle marque de whisky sur le marché chinois.

Diageo vise une croissance annuelle moyenne à un chiffre des ventes organiques. Ses ventes en 2019 ont augmenté de 6,1%, juste au-dessus de la fourchette, et le BPA ajusté a bondi d'un peu plus de 10%. L'année prochaine, Diageo prévoit une croissance organique de 5% de ses ventes et une amélioration de 6% de son bénéfice d'exploitation.

Les dividendes, payés semestriellement, ont été émis de manière cohérente depuis 1998, et il fait partie des aristocrates européens de dividendes qui ont augmenté leurs versements pendant plus de deux décennies. La société a également approuvé un programme de rachat d'actions de 5,8 milliards de dollars sur trois ans en juillet.

<h3 class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "VOIR AUSSI: Les 25 meilleurs fonds communs de placement de tous les temps"data-reactid =" 342 "> VOIR AUSSI: Les 25 meilleurs fonds communs de placement de tous les temps

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Valeur marchande: 5,9 milliards de dollars

Rendement en dividendes: 7,0%

Augmentation consécutive du dividende annuel: 17

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Le principal transporteur de gaz naturel d'Espagne, Enagas (ENGGY, 12,39 $), fournit du gaz naturel à huit pays européens via un réseau de gazoducs de 10 000 kilomètres. Et il bénéficie de la demande d'énergie la plus élevée de ce pays depuis une décennie, soit près de 17% de plus qu'un an plus tôt. La demande espagnole de gaz naturel utilisé dans la production d'électricité a augmenté de 99% au cours des neuf premiers mois de 2019 en raison d'une économie forte, ainsi que du remplacement du charbon comme source de carburant par le gaz naturel. "Data-reactid =" 365 "> Le principal transporteur de gaz naturel d'Espagne, Enagas (ENGGY, 12,39 $), livre du gaz naturel à huit pays européens via un réseau de gazoducs de 10 000 kilomètres. Il bénéficie de la demande énergétique la plus élevée de ce pays depuis une décennie, soit une augmentation de près de 17% par rapport à Il y a tout juste un an, la demande espagnole de gaz naturel utilisé dans la production d'électricité a augmenté de 99% au cours des neuf premiers mois de 2019 en raison d'une économie forte, ainsi que du remplacement du charbon par le gaz naturel comme source d'énergie.

Au cours des neuf premiers mois de 2019, les bénéfices d'exploitation de la société ont augmenté de 5%, le BAIIA (bénéfice avant intérêts, impôts, dépréciation et amortissement) s'est amélioré de 7% et les fonds d'exploitation ont augmenté de 12%.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Enagas diversifie ses activités en dehors de l'UE en acquérant une participation dans Tallgrass Energy LP (TGE), un distributeur de gaz naturel qui exploite trois pipelines inter-États à travers les États-Unis. En outre, la société détient une participation majeure dans le Trans Adriatic Pipeline (TAP), qui acheminera des approvisionnements en gaz naturel vers l'Europe à partir de la mer Caspienne. Le TAP est terminé à 90%; les opérations commerciales devraient commencer en 2020. Enagas a commencé à tester des segments de pipeline en Grèce et en Albanie au cours du quatrième trimestre. "data-reactid =" 367 "> Enagas diversifie ses activités en dehors de l'UE en acquérant une participation dans Tallgrass Energy LP (TGE ), un distributeur de gaz naturel qui exploite trois pipelines interétatiques à travers les États-Unis. En outre, la société détient une participation importante dans le Trans Adriatic Pipeline (TAP), qui acheminera des approvisionnements en gaz naturel vers l'Europe à partir de la mer Caspienne. Le TAP est 90 % achevé, les opérations commerciales devraient commencer en 2020. Enagas a commencé à tester des segments de pipeline en Grèce et en Albanie au cours du quatrième trimestre.

L'aristocrate de dividendes a augmenté son versement de 5% en 2019 pour atteindre 17 années consécutives d'expansion des revenus.

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Valeur marchande: 67,5 milliards de dollars

Rendement en dividendes: 1,5%

Augmentation consécutive du dividende annuel: 26

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "géant français / italien de la lunetterie EssilorLuxottica (ESLOY, 77,35 $) est un géant de l'optique – le résultat d'une fusion en 2018 entre Essilor (Varilux, Transitions et Foster Grant) et Luxottica (cadres Ray-Ban et Oakley, ainsi que les franchises de vente au détail Sunglass Hut et LensCrafter). "Data-reactid = "391">French/Italian eyewear giant EssilorLuxottica (ESLOY, $77.35) is an optical giant – the result of a 2018 merger between Essilor (Varilux, Transitions and Foster Grant) and Luxottica (Ray-Ban and Oakley frames, as well as Sunglass Hut and LensCrafter retail franchises).

It's gotten even bigger since then. In July 2019, the company agreed to purchase Dutch optical group Grandvision for up to $8 billion in cash. The deal will give the company 5,300 eyewear stores across Europe and a global network of more than 7,000 retail shops.

EssilorLuxottica improved revenues by 8.4% during the first nine months of 2019. Sales in faster-growing emerging markets – which include China, India, Latin America and Eastern Europe – rose 10%.

The company's cost-containment measures are expected to deliver big savings over the next three years by creating a single supply chain and consolidating its prescription laboratories network. In August, EssilorLuxottica expanded its production capacity by acquiring the world's leading optical glass lens manufacturer (Barberini) and an Australian ophthalmic instrument maker (Optimed).

A strong catalyst for future growth is the company's recently renewal of its exclusive licensing agreement with Chanel to develop, manufacture and distribute sunglasses and prescription eyeglasses for the brand over the next eight years.

EssilorLuxottica pays dividends annually and has grown its cash distributions for more than a quarter-century.

<h3 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="SEE ALSO: The 7 Best Bond Funds for Retirement Savers in 2020" data-reactid="397">SEE ALSO: The 7 Best Bond Funds for Retirement Savers in 2020

Market value: $9.1 billion

Dividend yield: 2.1%

Consecutive annual dividend increases: 19

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Flutter Entertainment (PDYPY, $58.45) was created through the merger of two leading U.K. bookmaker: Paddy Power and Betfair. Headquartered in Dublin, the company is a global sports betting, gaming and entertainment provider. Flutter Entertainment has 6 million active customers across 100 countries, and it handles 3 billion online transactions annually as well as wagers made through 620 retail locations." data-reactid="403">Flutter Entertainment (PDYPY, $58.45) was created through the merger of two leading U.K. bookmaker: Paddy Power and Betfair. Headquartered in Dublin, the company is a global sports betting, gaming and entertainment provider. Flutter Entertainment has 6 million active customers across 100 countries, and it handles 3 billion online transactions annually as well as wagers made through 620 retail locations.

In August, the company's FanDuel Group division signed a deal with Major League Baseball that gives it access to MLB data and logos, online sports betting products and retail sportsbooks locations. Earlier this year, Flutter Entertainment acquired a 51% stake in Adjarabet, Eastern Europe's market leader in online gaming, and expects to buy the remaining stake by 2022. The Georgian gaming market served by Adjarabet grew 40% annually between 2016 and 2018.

During the first half of 2019, the company's revenues grew 18% thanks to a strong performance from the FanDuel Group business and robust customer growth in Australia. Excluding one-time charges, adjusted EBITDA grew 15% year-over-year, but actual earnings per share declined because of acquisition-related costs. Still, Flutter announced a 10% bump in revenues during the September quarter, and it increased its full-year sales guidance for its U.S. business.

Flutter Entertainment will roughly double in size soon, too, as it announced in October that it would buy Canada's The Stars Group – the world's largest publicly traded sportsbook business and owner of PokerStars. The combined business would have 13 million customers in 100 countries, revenues of $4.7 billion and own three of the top seven U.K. online sports betting brands.

Flutter Entertainment, through its various companies, has paid increasing dividends for nearly two decades. The rate of growth has slowed over the past couple years, however, amid the M&A spree.

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Market value: $21.9 billion

Dividend yield: 1.8%

Consecutive annual dividend increases: 22

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Germany's Fresenius Medical Care (FMS, $36.40) provides dialysis services to some 340,000 patients worldwide through its network of nearly 4,000 dialysis clinics. The company also sells dialysis-related products and services to around 3.4 million patients worldwide. Much of the company's growth has come from acquisitions, which have recently included Sparsh Nephrocare, XENiOS, Cura Group, and NxStage Medical." data-reactid="430">Germany's Fresenius Medical Care (FMS, $36.40) provides dialysis services to some 340,000 patients worldwide through its network of nearly 4,000 dialysis clinics. The company also sells dialysis-related products and services to around 3.4 million patients worldwide. Much of the company's growth has come from acquisitions, which have recently included Sparsh Nephrocare, XENiOS, Cura Group, and NxStage Medical.

North America represents 70% of the company's revenues. Expansion in the company's home dialysis operations in the U.S. helped generate 5% revenue growth in the first nine months of 2019 and 8% adjusted basic EPS gains. Fresenius Medical Care also introduced a lower-priced dialysis machine in China that is specifically designed for emerging markets.

New products such as that dialysis machine should support continued organic sales growth for Fresenius Medical Care. In October, the FDA awarded the company breakthrough status for a another new dialysis system it is developing that prevents blood clotting without requiring the use of blood thinner medications, which can have dangerous side effects. Fresenius Medical Care also was granted breakthrough status earlier in 2019 for computer-assisted software it is developing that improves fluid management during dialysis.

FMS has paid dividends for more than two decades.

<h3 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="SEE ALSO: 12 Dividend Stocks to Build a Monthly Income Calendar" data-reactid="434">SEE ALSO: 12 Dividend Stocks to Build a Monthly Income Calendar

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Market value: $31.2 billion

Dividend yield: 1.6%

Consecutive annual dividend increases: 26

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Germany's Fresenius SE (FSNUY, $14.02) is a global leader in healthcare products and services. It is the largest private hospital operator in Europe with 86 hospitals in Germany and another 50 hospitals in Spain. It also provides project development, construction and maintenance services for hospital groups. And it benefits from its 31% stake in the aforementioned Fresenius Medical Care." data-reactid="457">Germany's Fresenius SE (FSNUY, $14.02) is a global leader in healthcare products and services. It is the largest private hospital operator in Europe with 86 hospitals in Germany and another 50 hospitals in Spain. It also provides project development, construction and maintenance services for hospital groups. And it benefits from its 31% stake in the aforementioned Fresenius Medical Care.

The company has grown organically and through bolt-on acquisitions. Its hospital supply business is expanding geographically and launching new products such as biosimilar drugs and the construction and project development business is capitalizing on fresh demand for its services in emerging markets.

During the first half of 2019, the company's revenues rose 6% and all four business groups contributed growth. However, net earnings remained flat due to the impact of a regulatory change and the sale of a business. Going forward and excluding acquisitions, Fresenius SE aims to deliver 4% to 7% annual sales growth and 5% to 9% annual earnings growth.

Fresenius SE is one of the longest-tenured European Dividend Aristocrats, delivering 26 consecutive years of dividend growth. Total shareholder returns over the past decade have averaged 15% annually.

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Market value: $13.7 billion

Dividend yield: 3.9%

Consecutive annual dividend increases: 16

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Belgian holding company Groupe Bruxelles Lambert (GBLBY, $8.75) is one of Europe's largest investment firms, with sizable stakes in industry-leading companies such as Adidas (ADDYY), Total SA (TOT) and Pernod Ricard (PDRDY). The company also owns Sienna Group, which invests across many of the world's leading fund managers. The value of its investment portfolio is roughly $21 billion." data-reactid="483">Belgian holding company Groupe Bruxelles Lambert (GBLBY, $8.75) is one of Europe's largest investment firms, with sizable stakes in industry-leading companies such as Adidas (ADDYY), Total SA (TOT) and Pernod Ricard (PDRDY). The company also owns Sienna Group, which invests across many of the world's leading fund managers. The value of its investment portfolio is roughly $21 billion.

Through the first nine months of 2019, the firm's net asset value grew 19% year-over-year and cash earnings rose at an impressive 47% rate. This financial performance is primarily thanks to Groupe Bruxelles Lambert's successful harvesting of sale proceeds from high-yielding assets in the energy and utilities sectors.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="During the September quarter, the company signed an agreement to acquire Webhelp Group, which specializes in business process outsourcing, for its portfolio. Groupe Bruxelles Lambert plans to accelerate Webhelp Group's organic growth and transition it from a European leader to a global player. Sienna Group continued to beef up its portfolio of alternative assets with investments in Marcho Partners LP, a technology and innovation fund, and co-investments with the Carlyle Group (TCGP) in Spanish oil and gas firm Cepsa." data-reactid="485">During the September quarter, the company signed an agreement to acquire Webhelp Group, which specializes in business process outsourcing, for its portfolio. Groupe Bruxelles Lambert plans to accelerate Webhelp Group's organic growth and transition it from a European leader to a global player. Sienna Group continued to beef up its portfolio of alternative assets with investments in Marcho Partners LP, a technology and innovation fund, and co-investments with the Carlyle Group (TCGP) in Spanish oil and gas firm Cepsa.

The company has improved its payout for 16 consecutive years, while delivering 11.5% annualized total shareholder return from 2012-19, beating an 8.4% return for the Stoxx Europe 50 during the same time period.

<h3 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="SEE ALSO: The 10 Best Value Stocks to Buy for 2020" data-reactid="487">SEE ALSO: The 10 Best Value Stocks to Buy for 2020

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Market value: $10.5 billion

Dividend yield: 0.6%

Consecutive annual dividend increases: 40

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="U.K.-based Halma (HLMAF, $27.60) invests in technology businesses that address health, safety and the environment. The company's Process Safety segment has tools for detecting hazardous gas leaks and monitoring air quality. Infrastructure Safety has fire detection and suppression and security monitoring products. Environmental Analysis focuses on water quality assessment and remediation, and the Medical business has devices that analyze eye health and blood pressure. It makes the majority of its sales in the U.S. and Europe." data-reactid="510">U.K.-based Halma (HLMAF, $27.60) invests in technology businesses that address health, safety and the environment. The company's Process Safety segment has tools for detecting hazardous gas leaks and monitoring air quality. Infrastructure Safety has fire detection and suppression and security monitoring products. Environmental Analysis focuses on water quality assessment and remediation, and the Medical business has devices that analyze eye health and blood pressure. It makes the majority of its sales in the U.S. and Europe.

Halma has delivered 16 consecutive years of rising sales and profits by combining organic growth driven by new products and services with niche acquisitions. Revenues grew 13% for fiscal 2019 – approximately 10 percentage points of that was organic, but Halma also benefited from niche acquisitions in infrastructure safety and health-care markets. Pre-tax profits rose 20%.

This steady Eddie has produced four decades of uninterrupted payout growth, putting it in an elite class within the European Dividend Aristocrats. The company also boasted in its fiscal 2019 report that, as of March 2019, an investment in Halma would have returned 1,141% over the past decade, which is more than twice the return from the Nasdaq Composite.

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Market value: $77.0 billion

Dividend yield: 0.7%

Consecutive annual dividend increases: 13

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="France's Hermès International (HESAY, $73.87) is one of the most recognizable brand names in luxury goods – not bad for a company that got its start as a saddle-maker more than 180 years ago." data-reactid="535">France's Hermès International (HESAY, $73.87) is one of the most recognizable brand names in luxury goods – not bad for a company that got its start as a saddle-maker more than 180 years ago.

Hermès has grown upward and outward, however. The company nowadays is known for its high-fashion leather accessories, apparel, scarves and other consumer products sold through a worldwide network of more than 300 stores. And today, more than half its sales are generated in Asia Pacific; Europe accounts for 30% and the Americas contribute 17%.

During the first half of 2019, revenues improved by 12%, reflecting sales contributions from new stores recently opened in Shanghai, Singapore and Thailand. Hermès International also opened its 36th U.S. store (in New York City) and re-launched a Hawaiian store. Sales of leather goods improved thanks to strong demand for the company's classic styles, and Hermès expanded its product capabilities. Apparel and accessories also performed well amid a favorable reception for new ready-to-wear clothing collections.

Hermès International has produced fairly reliable 13% annual sales growth and roughly 18% EPS gains over the past decade. The company has also been a good performer for its investors, returning 17.7% annually over the past five years – more than 11 percentage points better than French stocks as a whole.

In addition to its decent string of payout hikes, the European Dividend Aristocrat occasionally pays out special dividends.

<h3 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="SEE ALSO: The 15 Best Recession-Resistant Stocks to Buy" data-reactid="540">SEE ALSO: The 15 Best Recession-Resistant Stocks to Buy

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Market value: $20.7 billion

Dividend yield: 11.7%

Consecutive annual dividend increases: 22

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="England's Imperial Brands (IMBBY, $21.88) is a global tobacco company that operates through Imperial Tobacco, which markets cigarette worldwide; the Tabacalera cigar business; ITG Brands, which sells cigarettes in the U.S.; Fontem Ventures vaping products and Logista, which distributes cigarettes and other goods to 300,000 outlets across Europe." data-reactid="563">England's Imperial Brands (IMBBY, $21.88) is a global tobacco company that operates through Imperial Tobacco, which markets cigarette worldwide; the Tabacalera cigar business; ITG Brands, which sells cigarettes in the U.S.; Fontem Ventures vaping products and Logista, which distributes cigarettes and other goods to 300,000 outlets across Europe.

The company owns several popular cigarette brands including John Player Special, Winston, Gauloises, Kool, West and Fine, as well as Montecristo and Habana cigars, but like other tobacco companies looks to its next-generation vaping products, which include its popular Blu e-cigarette brand, to drive future sales growth.

The company anticipates 50% growth for its vaping products next year despite a somewhat uncertain U.S. regulatory environment for vaping. Imperial Brands is guiding for 2% sales growth in 2019, though it expects EPS to be flat year-over-year. The traditional tobacco business continues to generate low-single-digit growth, and the company recently launched a new heated tobacco product, Pulze, in Japan and several new oral tobacco products in Europe.

Imperial Brands is looking to sell its premium cigar business, expecting proceeds of up to $2.6 billion. And it aims to achieve annual cost savings of $260 million from a recently implemented expense reduction program.

The company is guiding for 10% dividend growth in 2019, in line with the European Dividend Aristocrat's growth over the past five year. Imperial Brands also is unusual among U.K. companies in that it pays quarterly dividends.

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Market value: $11.6 billion

Dividend yield: 1.8%

Consecutive annual dividend increases: 16

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Intertek Group (IKTSY, $71.80) is a British multinational product testing business that operates a network of more than 1,000 labs across 100 countries. Intertek Group provides quality and safety assurance testing to customers in the construction, health-care, food production and transport industries." data-reactid="590">Intertek Group (IKTSY, $71.80) is a British multinational product testing business that operates a network of more than 1,000 labs across 100 countries. Intertek Group provides quality and safety assurance testing to customers in the construction, health-care, food production and transport industries.

Intertek Group's revenues rose 7% year-over-year during the first half of 2019, slightly below its 7.1% rate over the past five years. Adjusted EPS improved by just 7.2%, however, which is well below its 9.8% five-year CAGR for profits.

Recent acquisitions made modest contributions to sales. The company acquired cargo inspection businesses in Malta and South America in 2018, as well as a network security business in Malaysia and a SaaS solutions provider in North America.

Intertek Group envisions major business expansion opportunities through new customer wins and cross-selling, given that only $50 billion of the $200 billion testing worldwide market is currently outsourced.

The interim dividend grew 7% in the first half of 2019. Just note that Intertek's U.S.-listed ADRs are extremely thinly traded, sometimes only trading 100 shares or so every few days, if that. That means even small orders can significantly move the price. Consider using limit and stop-loss orders when dealing with this stock.

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Market value: $7.3 billion

Dividend yield: 2.8%

Consecutive annual dividend increases: 32

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Johnson Matthey (JMPLY, $75.27) is a 202-year-old chemicals firm that participates in many cutting-edge technology markets. The company is a global leader in catalysts that reduce vehicle emissions. It also produces specialty catalysts and additives used by oil and gas drillers, metal fabricators, pharmaceutical manufacturers and developers of fuel cells technologies, medical devices and pharmaceutical and agricultural chemicals." data-reactid="618">Johnson Matthey (JMPLY, $75.27) is a 202-year-old chemicals firm that participates in many cutting-edge technology markets. The company is a global leader in catalysts that reduce vehicle emissions. It also produces specialty catalysts and additives used by oil and gas drillers, metal fabricators, pharmaceutical manufacturers and developers of fuel cells technologies, medical devices and pharmaceutical and agricultural chemicals.

Clean-air applications represent more than 60% of the company's sales and profits. Johnson Matthey derives nearly half of its revenues in Europe and one-third in the U.S.

During fiscal 2019, which ended in March, the company grew sales and profits by 10%, and hiked its dividend by 7%.

More recently, sales were flat during this year's June quarter as a result of a slowdown in oil and gas markets. Still, Johnson Matthey is guiding for mid- to high-single-digit growth in fiscal 2020, with performance more weighted to the back half. It anticipates commercial sales commencing from its ELNO business, which produces advanced nickel cathode materials that improve the range and power and reduce the lifetime costs of electric car batteries.

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Market value: $22.5 billion

Dividend yield: 0.6% Consecutive annual dividend increases: 33

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Ireland's Kerry Group (KRYAY, $127.23) is a leading developer and manufacturer of specialty ingredients used to improve the flavor, appearance and health benefits of packaged foods. It's also a potential bidder for DuPont's (DD) nutrition and bioscience business, which could fetch as much as $25 billion." data-reactid="644">Ireland's Kerry Group (KRYAY, $127.23) is a leading developer and manufacturer of specialty ingredients used to improve the flavor, appearance and health benefits of packaged foods. It's also a potential bidder for DuPont's (DD) nutrition and bioscience business, which could fetch as much as $25 billion.

Kerry Group has delivered volume growth three times that of the food market by expanding its footprint in developing markets and acquiring businesses in clean-label food and food protection, among other things.

In its consumer foods business, the company benefits from rising demand for convenience meal solutions and snack foods eaten on the run. Kerry Group also has launched meat-free products that have been well-received by consumers early on.

For the first nine months of 2019, Kerry Group's sales improved by 10% year-over-year. It's guiding for 7% to 9% growth in adjusted profits for the full year.

Kerry Group boats 13% compound annual growth in adjusted earnings since 1986, 16% annual share-price gains and 17% annual expansion in the payout. Its most recent increase brought its dividend-growth streak to 33 years.

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Market value: $18.2 billion

Dividend yield: 1.3%

Consecutive annual dividend increases: 16

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Founded over 175 years ago, Swiss chocolate-maker Lindt &amp; Sprungli (LDSVF, $7,522.95) is the global leader in premium chocolates. The company's popular Lindt, Hofbauer, Küfferle, Ghirardelli, Whitman's and Russell Stover chocolate brands are beloved by consumers worldwide and sold through a variety of retail channels, including 410 company-owned Lindt, Ghiradelli and Russell Stover stores." data-reactid="671">Founded over 175 years ago, Swiss chocolate-maker Lindt & Sprungli (LDSVF, $7,522.95) is the global leader in premium chocolates. The company's popular Lindt, Hofbauer, Küfferle, Ghirardelli, Whitman's and Russell Stover chocolate brands are beloved by consumers worldwide and sold through a variety of retail channels, including 410 company-owned Lindt, Ghiradelli and Russell Stover stores.

In the U.S., which is the world's largest chocolate market, Lindt has the No. 1 market share in the premium chocolate segment and is No. 3 in overall chocolate sales. The company is expanding U.S. production facilities to support planned volume growth and making upgrades to its logistics network serving U.S. customers.

Lindt's expansion into Eastern Europe is paying off with high-double-digit sales growth in Poland, Russia, the Czech Republic, Slovakia and Hungry. Other new markets are delivering 8% organic growth this year thanks to new store openings in Japan, Brazil and China.

Revenues grew by 6% during the first half of 2019, reflecting 5% growth in Europe, 7% in North America and 8% in other countries. The company is guiding for 5-7% organic sales growth this year. Operating income improved by 8%, but financing costs weighed on net income, which grew by only 2%.

The chocolate market isn't a screaming growth play – Morgan Stanley forecasts just 2% annual market growth – but that's still something considering a growing trend toward healthier foods. Lindt appears a likely winner thanks to its dominant presence in higher-margin premium chocolates. Just be careful: Like Intertek, LDSVF has extremely thin trading volume.

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Market value: $159.2 billion

Dividend yield: 1.5%

Consecutive annual dividend increases: 36

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="French firm L'Oreal (LRLCY, $57.05) is a world-leading beauty brand with iconic skin-care, hair-care and cosmetic brand names such as Lancôme, Garnier and Maybelline. The company markets product lines in five beauty categories (Haircare, Hair Color, Skincare, Fragrances and Cosmetics), which include hair salons, drug stores, mass merchant retailers and e-commerce." data-reactid="699">French firm L'Oreal (LRLCY, $57.05) is a world-leading beauty brand with iconic skin-care, hair-care and cosmetic brand names such as Lancôme, Garnier and Maybelline. The company markets product lines in five beauty categories (Haircare, Hair Color, Skincare, Fragrances and Cosmetics), which include hair salons, drug stores, mass merchant retailers and e-commerce.

L'Oreal owns a 13% share of the beauty care market in North America and a 20% share in western Europe. It's expanding in Latin America, Asia and the Middle East, where market shares currently range from 9% to 12%.

L'Oreal currently holds the No. 1 beauty care market share in the Asia Pacific region, where it enjoyed 24% sales growth during the first half of 2019. Another growth driver came from the company's recently launched upscale brand L'Oreal Luxe; sales of Luxe products grew 13% and one-third faster than the overall luxury beauty market. New skin-care offerings and products for the travel market, where L'Oreal also holds a leadership position, also contributed to sales gains.

Going forward, L'Oreal envisions significant expansion opportunities in e-commerce. The company's e-commerce sales are rising twice as fast as the e-commerce beauty market and represent 13% of sales today, up from just 3% of L'Oreal's revenues five years ago.

LRLCY has improved its cash distribution every year since 1998 while maintaining a healthy dividend payout ratio of 54%. (Payout ratio is the percentage of profits that dividends account for.) Shareholders who have owned the stock more than two years also qualify for a 10% loyalty bonus dividend.

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Market value: $7.6 billion

Dividend yield: N/A*

Consecutive annual dividend increases: 15**

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Formerly known as M&amp;G Prudential, Britain's M&amp;G (MGPUF, $2.92) changed its name when it spun off from Prudential (PUK) earlier this year. The standalone M&amp;G is a major savings and investment business headquartered in London that serves 5.5 million retail customers and more than 800 institutional clients across 28 markets worldwide. The company is comprised of Prudential's U.K. insurance and asset management businesses. M&amp;G has $454 billion in assets under management as of 2019's first half." data-reactid="727">Formerly known as M&G Prudential, Britain's M&G (MGPUF, $2.92) changed its name when it spun off from Prudential (PUK) earlier this year. The standalone M&G is a major savings and investment business headquartered in London that serves 5.5 million retail customers and more than 800 institutional clients across 28 markets worldwide. The company is comprised of Prudential's U.K. insurance and asset management businesses. M&G has $454 billion in assets under management as of 2019's first half.

In the U.K. and Europe, M&G provides a variety of long-term savings and investment products, including PruFund, a family of funds that aims for long-term growth and minimal volatility. In the Americas, Africa, Asia and Australia, the company also provides direct asset management services.

M&G is unusual in being both an owner and manager of assets and can invest alongside its clients and deploy capital more quickly when opportunities for new funds emerge. In addition to being one of Europe's largest asset managers, M&G is one of the U.K.'s largest fixed-income specialists and a leading global manager of private assets.

Research firm Exane BNP Paribas predicts 7% annual growth in asset management profits but worries that run-off from the insurance business will weigh on earnings until 2022, when profits are projected to rebound. MGPUF also is a thin-volume stock, so take care while investing.

*M&G has not yet paid a cash dividend since de-merging from Prudential. It plans on making two dividend payments per year, including an interim dividend that's one-third the size of the previous full-year dividend. It then expects stable or increasing dividends over time.

**M&G shares maintain Prudential's track record of 15 years consecutive years of uninterrupted dividend growth.

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Market value: $4.5 billion

Dividend yield: 9.5%

Consecutive annual dividend increases: 13

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Micro Focus International (MFGP, $13.58) is the U.K.'s largest tech firm, but the company has struggled since acquiring Hewlett Packard Enterprise's (HPE) software business two years ago in a massive deal valued at $8.8 billion. The firm, which sells software and consulting services globally, has been slow to integrate the larger, U.S.-based business." data-reactid="755">Micro Focus International (MFGP, $13.58) is the U.K.'s largest tech firm, but the company has struggled since acquiring Hewlett Packard Enterprise's (HPE) software business two years ago in a massive deal valued at $8.8 billion. The firm, which sells software and consulting services globally, has been slow to integrate the larger, U.S.-based business.

MFGP shares fell nearly 30% in a single day in late August after reporting a 5% sales decline in the first half of 2019 and warning of full-year revenues 6% to 8% lower than last year. Management blamed the weaker sales on poor execution compounded by a deteriorating macro-economic environment. Management also said it would accelerate a strategic review of the company's operations, possibly culminating in a sale of all or part of the business.

During the first quarter of 2019, Micro Focus closed the sale of its SUSE open-source software business and returned the $1.8 billion of sale proceeds to shareholders. The company has raised its dividend 13 years in a row, including a 32% hike in 2018. Micro Focus paid an interim dividend of 58 cents per share during the first half of 2019, which was flat compared to one year ago.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Shares rose modestly in mid-October after Bloomberg reported that rival OpenText (OTEX) was considering a takeover bid." data-reactid="758">Shares rose modestly in mid-October after Bloomberg reported that rival OpenText (OTEX) was considering a takeover bid.

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Market value: $301.7 billion

Dividend yield: 2.3%

Consecutive annual dividend increases: 24

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Swiss giant Nestlé (NSRGY, $104.49) is the world's largest food and beverage company with more than 2,000 brands, 413 factories and sales in 190 countries. The company was founded more than 150 years ago as a developer of a breakthrough infant formula, and it merged with a milk company to create the Nestlé Group." data-reactid="782">Swiss giant Nestlé (NSRGY, $104.49) is the world's largest food and beverage company with more than 2,000 brands, 413 factories and sales in 190 countries. The company was founded more than 150 years ago as a developer of a breakthrough infant formula, and it merged with a milk company to create the Nestlé Group.

Nestlé household brands include Stouffer's frozen entries, Purina pet food, Perrier and Poland Spring water, Toll House baked goods, Nescafé coffee, Lean Cuisine meals, Häagen-Dazs ice cream, Gerber baby food, Coffee-Mate creamer, Cheerios cereal and numerous other recognizable names.

The company aims to achieve mid-single-digit organic growth by stepping up investments in higher-growth categories such as coffee, pet care, nutrition, water and Nestlé Health Sciences. These categories together represent 57% of sales and 61% of operating profits. Nestlé also is shedding less strategic assets. Last year it sold its USA confectionery and Gerber life insurance businesse, and it's reviewing its Herta charcuterie business, which may be sold.

During the first nine months of 2019, organic sales rose nearly 4% due to a strong performance from its Purina Petcare business, and the company is guiding for 3.5% organic growth this year, which should drive profit growth. It also plans to initiate a $20 billion share repurchase program in January 2020, helped by $10 billion in cash raised through the sale of its skin-care unit.

Nestlé is one of the oldest dividend payers among the European Dividend Aristocrats; the company has been paying dividends since 1959.

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Market value: $210.7 billion

Dividend yield: 3.0%

Consecutive annual dividend increases: 22

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Swiss health-care company Novartis (NVS, $93.06) is known for its blockbuster drugs Cosentyx (arthritis) and Entresto (heart failure). Under a new CEO, the company has been pivoting toward more cutting-edge gene therapies such as Zolgensma, which treats spinal muscular atrophy. It's one of the first gene therapies to go on sale in the U.S. and carries a hefty $2.1 million price tag. Novartis acquired the drug through the $8.7 billion purchase of the drug's developer, AveXis." data-reactid="809">Swiss health-care company Novartis (NVS, $93.06) is known for its blockbuster drugs Cosentyx (arthritis) and Entresto (heart failure). Under a new CEO, the company has been pivoting toward more cutting-edge gene therapies such as Zolgensma, which treats spinal muscular atrophy. It's one of the first gene therapies to go on sale in the U.S. and carries a hefty $2.1 million price tag. Novartis acquired the drug through the $8.7 billion purchase of the drug's developer, AveXis.

Acquisitions in gene therapies and radiopharmaceuticals (drugs that carry radioactive particles to cancer tumors) build on earlier investments in Novartis' new CAR-T gene therapy, in which blood cells extracted from a patient are modified to attack cancer and then reinfused into the patient.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="In October, Novartis formed a five-year partnership with Microsoft (MSFT) to use artificial intelligence to design, personalize and optimize its CAR-T cancer therapy. The company also strengthened its heart treatment portfolio in November by signing a deal to acquire cholesterol drug-maker The Medicines Co. (MDCO) for $9.7 billon." data-reactid="811">In October, Novartis formed a five-year partnership with Microsoft (MSFT) to use artificial intelligence to design, personalize and optimize its CAR-T cancer therapy. The company also strengthened its heart treatment portfolio in November by signing a deal to acquire cholesterol drug-maker The Medicines Co. (MDCO) for $9.7 billon.

Novartis' sales grew by 9% and EPS by 17% during the first nine months of 2019. Sales of drugs Cosentyx and Entresto rose 27% and 61%, respectively, and new drugs Zolgensma and Lutathera (cancer) contributed meaningfully to sales. The company recently revised its full-year financial guidance upward and targets high-single-digit sales growth and mid- to high-teens income growth in 2019.

Novartis' annual dividend, which has grown for more than two decades, is inching along, including a small 2% hike for 2018. (Dividends for a year are declared in the following year.)

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Market value: $132.9 billion

Dividend yield: 2.2%

Consecutive annual dividend increases: 14

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Denmark's Novo Nordisk (NVO, $56.50) is a global leader in diabetes drugs. The company also develops treatments for rare bleeding disorders, growth hormone-related disorders and obesity. Its diabetes medications are used by 29.2 million patients worldwide in 170 countries. The company supplies nearly half of the world's insulin from its manufacturing sites in Brazil, China, Denmark, France and the U.S." data-reactid="837">Denmark's Novo Nordisk (NVO, $56.50) is a global leader in diabetes drugs. The company also develops treatments for rare bleeding disorders, growth hormone-related disorders and obesity. Its diabetes medications are used by 29.2 million patients worldwide in 170 countries. The company supplies nearly half of the world's insulin from its manufacturing sites in Brazil, China, Denmark, France and the U.S.

North American operations account for roughly half of sales. Other significant markets include Europe, China and the Middle East. Insulin products contribute 50% of revenues, other diabetes products and obesity products contribute 34% of sales, and biopharmaceutical medicines for bleeding and growth hormone-related disorders round out the remaining revenues.

Because diabetes is a chronic condition, Novo Nordisk's insulin sales create steady recurring cash flow. The company recently launched its new line of GLP-1 therapeutics for treating type-2 diabetes that is already approaching blockbuster drug status. GLP-1 is a naturally occurring hormone that induces insulin secretion. GLP-1 therapeutics have rapidly grown to become 17% of the worldwide diabetes market, and Novo Nordisk is the market leader with a 47% global market share in this new niche.

After the FDA approval its new drug Rybelsus for type-2 diabetes in adults in September, Novo Nordisk increased its sales guidance from a range of 4% to 6% organic growth to a range of 5% to 6%. It also sees profits improving by 4% to 6%. The company pays dividends semiannually.

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Market value: $13.7 billion

Dividend yield: 1.6%

Consecutive annual dividend increases: 19

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Danish Novozymes (NVZMY, $48.59) develops industrial enzymes and micro-organisms used in a variety of ways. They increase crop yields, improve animal health, extend the freshness of bakery products, reduce chemical use in textile production, remove clothing stains and treat wastewater. The company estimates that around the world, 5.6 billion people use products containing Novozymes enzymes on a weekly basis." data-reactid="863">Danish Novozymes (NVZMY, $48.59) develops industrial enzymes and micro-organisms used in a variety of ways. They increase crop yields, improve animal health, extend the freshness of bakery products, reduce chemical use in textile production, remove clothing stains and treat wastewater. The company estimates that around the world, 5.6 billion people use products containing Novozymes enzymes on a weekly basis.

Novozymes is expanding its operations in emerging markets, particularly in the household-care and food and beverage segments. Novozymes installed offices in Thailand, Indonesia, the Philippines and Kenya in 2018, as well as opened an Innovation & Technology Center in Turkey that will develop products for customers in Africa and the Middle East.

The first nine months of 2019 were difficult. Sales and earnings declined thanks to a softer U.S. ethanol market, and Novozymes now is guiding for a 2% sales decline and a 5% profit drop in 2019. However, free cash flow is expected to be unchanged from the prior year.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The company recently recruited a new CEO, Ester Baiget, from Dow Inc. (DOW). She will take over as Novozymes' CEO in February 2020." data-reactid="866">The company recently recruited a new CEO, Ester Baiget, from Dow Inc. (DOW). She will take over as Novozymes' CEO in February 2020.

Novozymes pays dividends annually, though its last hike was a mere 1%. Still, that's good for 19 consecutive years of increases.

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Market value: $46.9 billion

Dividend yield: 3.5%

Consecutive annual dividend increases: 15

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Prudential plc (PUK, $36.06), as we mentioned earlier, spun off its U.K. and European operations earlier this year to focus on expanding its Asia, U.S. and Africa business. Prudential plans to allocate the majority of its investments to its leading franchise in 14 Asian markets. Cash flow for growth will be generated by harvesting profits from its Jackson U.S. retirement products business." data-reactid="891">Prudential plc (PUK, $36.06), as we mentioned earlier, spun off its U.K. and European operations earlier this year to focus on expanding its Asia, U.S. and Africa business. Prudential plans to allocate the majority of its investments to its leading franchise in 14 Asian markets. Cash flow for growth will be generated by harvesting profits from its Jackson U.S. retirement products business.

In recent years, Asia and the U.S. have been Prudential's primary growth catalysts, generating 15% annual earnings and free cash flow growth over the past decade. During the first six months of 2019, Prudential's operating profits improved 13%, beating analyst estimates, as 14% growth in businesses in Hong Kong, China and Singapore more than offset lower sales in Indonesia.

Prudential's Eastspring Investments Asian asset management business expanded its footprint in Thailand in September by acquiring a majority stake in the country's eighth largest mutual fund manager. The combined businesses will create Thailand's fourth largest asset manager and sixth largest bank, with 10 million retail customers.

Prudential hiked its dividend, paid semiannually, by 5% in 2019.

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Market value: $10.5 billion

Dividend yield: 5.7%

Consecutive annual dividend increases: 21

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Spanish utility Red Eléctrica (RDEIY, $9.68) operates regulated electricity transmission and telecommunication businesses in Spain and also has electricity transmission concessions in Chile and Peru. Red Eléctrica is benefitting from robust power demand in Spain, which has faster economic growth than other eurozone countries. The company also leads Europe in renewable energy, which represents nearly half of its Red Electric's power generation." data-reactid="917">Spanish utility Red Eléctrica (RDEIY, $9.68) operates regulated electricity transmission and telecommunication businesses in Spain and also has electricity transmission concessions in Chile and Peru. Red Eléctrica is benefitting from robust power demand in Spain, which has faster economic growth than other eurozone countries. The company also leads Europe in renewable energy, which represents nearly half of its Red Electric's power generation.

The company is in the second year of a five-year program that will invest $6.6 billion in various growth and diversification initiatives. Red Eléctrica is integrating more renewables into its energy grid, investing in smart grid and digitalization technologies, becoming a bigger player in telecom infrastructure and expanding internationally. The company acquired its electrical transmission businesses in Chile and northern Peru in 2018, commissioned a major new transmission line in southern Peru and acquired Hispasat, the fourth biggest satellite operator in Latin America and the eighth largest in the world.

During the first nine months of 2019 the company's revenues rose less than 1% and EPS increased 2%. Red Eléctrica stepped up the pace of investments by nearly 15% with most of the funds being allocated for upgrades to the Spanish transmission network.

This European Dividend Aristocrat's dividends, paid semiannually, have grown without interruption for more than two decades.

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Market value: $263.3 billion

Dividend yield: 2.8%

Consecutive annual dividend increases: 17

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Swiss pharmaceutical Roche Holdings (RHHBY, $38.44) became the world leader for in-vitro diagnostics and cancer diagnostics by acquiring biotech innovator Genetech a decade ago." data-reactid="944">Swiss pharmaceutical Roche Holdings (RHHBY, $38.44) became the world leader for in-vitro diagnostics and cancer diagnostics by acquiring biotech innovator Genetech a decade ago.

Today, Roche remains an industry giant in oncology care with blockbuster cancer drugs like Herceptin, Avastin and Rituxan. These drugs, combined, have reaped more than $235 billion of sales over the past 15 years. Roche's pharmaceutical arm is dominated by its cancer-drug franchise, which makes up more than 60% of revenues.

Generic competition is a major threat to Roche as some of its leading cancer drugs lose their patent protections. Revenues from the cancer drug franchise are projected to decline 12% over the next six years, according to research firm EvaluatePharma. Roche is addressing this challenge by advancing drugs in other treatment areas such as Ocrevus, a multiple sclerosis drug the company thinks could replace nearly half of its lost cancer sales. Roche also strengthened its franchise in hemophilia drugs by acquiring Spark Therapeutics in 2019. Roche's hemophilia franchise is built around Hemlibra, a drug injected regularly to prevent bleeding in patients with hemophilia A, the most common form of the disease. Spark is in the advanced stages of developing a gene therapy for hemophilia A.

Roche's half-year 2019 sales improved 9% year-over-year, driven mainly by sales of Ocrevus and Hemlibra, and EPS grew by 13%. The company recently raised its full-year outlook for sales to high-single-digit growth and is guiding for EPS gains in line with sales.

Roche pays an annual dividend that has inched ahead by roughly 2% annually over the past five years.

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Market value: $10.4 billion

Dividend yield: 2.3%

Consecutive annual dividend increases: 23

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Sage Group (SGPYY, $38.22) is a U.K.-based technology company that's among the leaders in enterprise software. The company provides specialized software used for accounting, financial management, enterprise planning, HR, payroll and payment processing. Approximately half of U.K. businesses use Sage software to pay their workers." data-reactid="971">Sage Group (SGPYY, $38.22) is a U.K.-based technology company that's among the leaders in enterprise software. The company provides specialized software used for accounting, financial management, enterprise planning, HR, payroll and payment processing. Approximately half of U.K. businesses use Sage software to pay their workers.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The company has faced challenges recently in shifting its customers to the cloud. It has warned of short-term software and software-related services (SSRS) declines as it transitions toward subscription and cloud-based alternatives." data-reactid="972">The company has faced challenges recently in shifting its customers to the cloud. It has warned of short-term software and software-related services (SSRS) declines as it transitions toward subscription and cloud-based alternatives.

For the fiscal year ended in September, Sage Group's revenues increased 5%, fueled by higher recurring subscription revenues, which was partially offset by lower server-based software revenues. Recurring revenues rose to 86% of total revenue, and software subscription penetration climbed to 55%. Profits per share, however, declined by 10%.

Sage Group is refocusing its portfolio of businesses and recent divested its U.S. payroll processing business and Sage Pay business unit. The company said it would issue a capital return of roughly $300 million in sale proceeds to investors.

Fiscal 2020 might be much better for SGPYY. The company is guiding for 8% to 9% growth in recurring revenues, mainly as a result of gains in its cloud business, which will be partially offset by high single-digit sales declines in server-based revenues and processing revenues. Importantly, operating margins are projected to rise from 2019's 19.7% to 23% in 2020.

Like most European Dividend Aristocrats, Sage Group pays dividends semiannually. Its 2019 increase was a small 3% uptick.

<h3 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="SEE ALSO: The 20 Best Small-Cap Dividend Stocks to Buy" data-reactid="977">SEE ALSO: The 20 Best Small-Cap Dividend Stocks to Buy

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Market value: $124.1 billion

Dividend yield: 3.5%

Consecutive annual dividend increases: 25

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="French drugmaker Sanofi (SNY, $49.51) is known for diabetes drugs such as Lantus, which recently came off-patent, and is working to become a bigger player in cancer, immunology and rare blood disorders. In 2018, the company acquired Bioverativ and Ablynx, which develop drugs for hemophilia. Sanofi also advanced its drug Dupixent, for new treatment indications in dermatitis. Dupixent creates the platform for Sanofi's expansion in immunology. Developed in partnership with Regeneron (REGN), Dupixent is on track to generate $2 billion of annualized revenues, good for blockbuster status." data-reactid="1000">French drugmaker Sanofi (SNY, $49.51) is known for diabetes drugs such as Lantus, which recently came off-patent, and is working to become a bigger player in cancer, immunology and rare blood disorders. In 2018, the company acquired Bioverativ and Ablynx, which develop drugs for hemophilia. Sanofi also advanced its drug Dupixent, for new treatment indications in dermatitis. Dupixent creates the platform for Sanofi's expansion in immunology. Developed in partnership with Regeneron (REGN), Dupixent is on track to generate $2 billion of annualized revenues, good for blockbuster status.

Not all of Sanofi's acquisitions have been winners. In July, Sanofi was forced to take a $2 billion impairment charge on Eloctate, a hemophilia drug gained through the company's $11 billion purchase of Bioverative 18 months ago.

Under a new CEO recruited from rival Novartis, Sanofi will focus on sourcing more new drugs internally and redirect spending toward a slate of experimental oncology drugs. Roughly half its pipeline consists of internally derived molecules; Sanofi hopes to bring that number up to 70% over the next five to 10 years. The company believes eventually, 80% of the in-house pipeline will consist of first-of-its-kind or best-in-class drug candidates.

During the first nine months of 2019, Sanofi's sales rose 4% and EPS grew 6%. Revenue gains were the result of expansion of the company's immunology and rare blood disorder franchises, which grew 159% and 33%, respectively. Growth in these new areas more than offset an 8% decline in the diabetes franchise and 9% lower established prescription drug sales. Sanofi expects earnings growth of 5% for full-year 2019.

Sanofi's dividends have improved every year for a quarter-century – the mark it takes for S&P Dividend Aristocrats inclusion.

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Market value: $17.8 billion

Dividend yield: 6.8%

Consecutive annual dividend increases: 27

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="SSE plc (SSEZY, $17.19) develops and owns regulated electricity networks and renewable-energy assets across the U.K. and Ireland. The company's distribution networks, serving Scotland and southern England, provide electricity to approximately 3.8 million homes and businesses." data-reactid="1027">SSE plc (SSEZY, $17.19) develops and owns regulated electricity networks and renewable-energy assets across the U.K. and Ireland. The company's distribution networks, serving Scotland and southern England, provide electricity to approximately 3.8 million homes and businesses.

The company also holds a 33% stake in natural gas distributor SGN Plc, which serves approximately 5.9 million residential customers in Scotland and England. In addition, SSE owns the largest portfolio of renewable-energy assets in the U.K. and Ireland.

SSE plans to spend $7.7 billion over the next five years to expand and upgrade its energy assets; 70% of this will be invested in its regulated networks and renewable energy portfolio. The U.K. government has legislated net zero carbon emissions by 2050, and SSE is preparing for this transition to low carbon energy by developing a pipeline of wind farms that will triple its renewable-energy output by 2030.

In September, SSE announced it had agreed to sell SSE Energy Services to OVO Energy in a deal expected to close in late 2019/early 2020. Sales proceeds will be reinvested in the renewable energy and regulated electricity businesses.

That said, SSE likely will be leave the European Dividend Aristocrats when the index rebalances in 2020. The company, which plans on leaving the U.K. energy retail market, has announced a cut to its dividend for the fiscal year ended March 2020.

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Market value: $156.4 billion

Dividend yield: 3.0%

Consecutive annual dividend increases: 20

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Consumer products giant Unilever plc (UL, $59.49) sells food, beauty-care and personal-care products used by over 2.5 billion consumers worldwide and generates revenues in more than 190 countries." data-reactid="1055">Consumer products giant Unilever plc (UL, $59.49) sells food, beauty-care and personal-care products used by over 2.5 billion consumers worldwide and generates revenues in more than 190 countries.

This is a dominant player across several product lines. Eighty-five percent of Unilever's 400-plus brands hold market-leading positions. Many of its brands are familiar to American consumers: Dove soap, Lipton tea, Hellmann's mayo, Breyer's and Ben & Jerry's ice creams, TRESemmé shampoo and Pond's and Noxzema skin softeners. Twelve of its brands exceed $1.1 billion in annual sales.

Unilever has been a leader in the green packaging movement and recently committed to 100% recycled plastic bottles for Dove liquid soap and plastic-free packaging for Dove bar soap. The company's green commitment is paying off for investors; sales of Unilever's 28 "sustainable living" brands – which include Dove, Axe, Hellman's and Breyer's – are growing 69% faster than its overall brand portfolio. Unilever also is supplying plant-based burgers for Burger King in 25 European countries.

Emerging markets represented nearly 60% of 2018's sales growth. Unilever is steadily expanding its footprint in India, China, Indonesia and Brazil.

Unilever originally consisted of Dutch and U.K. subsidiaries, but the company consolidated its operations into its Dutch subsidiary last year. This operational streamlining is expected to reduce costs and make the business more agile.

Unilever is a refreshing quarterly payer among the European Dividend Aristocrats. Its most recent payout increase was a 6% bump-up in June.

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Market value: $8.3 billion

Dividend yield: 2.0%

Consecutive annual dividend increases: 15

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Whitbread (WTBDY, $15.48) is a British hotel operator that owns the U.K.'s most popular budget brand hotel chain, Premier Inn, as well as restaurant brands Beefeater's and Brewers." data-reactid="1084">Whitbread (WTBDY, $15.48) is a British hotel operator that owns the U.K.'s most popular budget brand hotel chain, Premier Inn, as well as restaurant brands Beefeater's and Brewers.

Whitbread operates more than 800 Premier Inn hotels in the U.K. and serves an estimated 5 million customers per month. The company is expanding its Premier Inn franchise in Europe, too, and already has opened Premier Inn locations in the German cities of Frankfort, Munich and Hamburg. It plans to grow the German franchise to more than 30 hotels between 2020 and 2021.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Whitbread used to be an operator of U.K. coffee shops as well, but the company sold its Costas chain of coffee shops to Coca-Cola (KO) in early 2019 for $5.1 billion. The company plans to return roughly $3.2 billion of the sale's proceeds to investors via stock buybacks." data-reactid="1086">Whitbread used to be an operator of U.K. coffee shops as well, but the company sold its Costas chain of coffee shops to Coca-Cola (KO) in early 2019 for $5.1 billion. The company plans to return roughly $3.2 billion of the sale's proceeds to investors via stock buybacks.

Whitbread's financial performance in the first half of fiscal 2020, which ends in February 2020, was negatively impacted by a soft U.K. market, where Brexit fears have eroded business travel. The company's revenues were flat year-over-year, as capacity additions in Germany offset some of the weakness in the U.K. market. Adjusted EPS rose 5% thanks to better operational efficiencies.

Whitbread's dividends, which are paid twice a year, have grown for 15 consecutive years. Its most recent interim dividend was flat with last year's interim payout.

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Market value: $19.0 billion

Dividend yield: 1.6%

Consecutive annual dividend increases: 29

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Wolters Kluwer (WTWKY, $71.01) is a global leader in professional information and software solutions and services for customers in the healthcare, tax and accounting, corporate governance, legal and regulatory industries. The company sells to customers in 180 countries and has operations in 40 countries. Its revenue breakdown is roughly 61% North America, 31% Europe and 8% Asia Pacific." data-reactid="1111">Wolters Kluwer (WTWKY, $71.01) is a global leader in professional information and software solutions and services for customers in the healthcare, tax and accounting, corporate governance, legal and regulatory industries. The company sells to customers in 180 countries and has operations in 40 countries. Its revenue breakdown is roughly 61% North America, 31% Europe and 8% Asia Pacific.

Wolters Kluwer consistently invests 8% to 10% of annual revenues into new product development. Future growth is expected to come from extending product lines and distribution channels, enriching content and user experience through investments in advanced technologies, and making upgrades to its back office and IT infrastructure. Wolters also will deal in M&A, targeting businesses that will be accretive to EPS and provide returns exceeding cost of capital within three to five years.

The company's first six months of 2019 progressed well. Organic sales rose 4% year-over-year, free cash flow was 7% better and adjusted EPS improved by 9%. Recurring revenues, which rose 5% organically, represented 80% of total sales. The company expects adjusted profits to rise 10% year-over-year.

Wolters Kluwer is a long-timer among European Dividend Aristocrats, with 29 consecutive dividend increases. It has been paying semiannually since 2015.

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Market value: $16.4 billion

Dividend yield: 5.9%

Consecutive annual dividend increases: 19

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="WPP (WPP, $65.14) provides advertising, media buying, consumer branding, public relations and digital marketing services to clients worldwide. Its business subsidiaries include many of the best-known brands in public relations and advertising: Grey, Ogilvy, Mediacom, Y&amp;R and Hill+Knowlton. WPP serves 369 of the Fortune Global 500 companies as clients, as well as all 30 Dow stocks." data-reactid="1137">WPP (WPP, $65.14) provides advertising, media buying, consumer branding, public relations and digital marketing services to clients worldwide. Its business subsidiaries include many of the best-known brands in public relations and advertising: Grey, Ogilvy, Mediacom, Y&R and Hill+Knowlton. WPP serves 369 of the Fortune Global 500 companies as clients, as well as all 30 Dow stocks.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="WPP announced a major restructuring in late 2018, with plans to shutter 80 offices globally and shed 3,500 jobs. The company has been hurt by increasing competition for advertising dollars from on-line competitors Google and Facebook (FB). In July, WPP freed up capital by selling a majority stake in its Kantar market research business to Bain Capital for $3.1 billion. This followed the sale of its post-production services business to The Farm Group in June for an undisclosed sum. The company will use the sale proceeds to pay down debt and boost returns to shareholders." data-reactid="1138">WPP announced a major restructuring in late 2018, with plans to shutter 80 offices globally and shed 3,500 jobs. The company has been hurt by increasing competition for advertising dollars from on-line competitors Google and Facebook (FB). In July, WPP freed up capital by selling a majority stake in its Kantar market research business to Bain Capital for $3.1 billion. This followed the sale of its post-production services business to The Farm Group in June for an undisclosed sum. The company will use the sale proceeds to pay down debt and boost returns to shareholders.

WPP returned to modest top-line growth in the first six months of 2019. Sales improved 2%, but earnings per share dropped nearly 20% because of one-time restructuring charges and difficult year-over-year comparisons. Results last year benefited from a $150 million extraordinary gain on an asset sale.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Things might perk up in the future, however. It's in year two of a three-year plan that aims to return to sustainable growth by simplifying its business structure and improving its value proposition for customers. WPP has shed 44 businesses over 15 months while winning contracts and extending assignments with big clients like eBay (EBAY), Facebook's Instagram and L'Oreal." data-reactid="1140">Things might perk up in the future, however. It's in year two of a three-year plan that aims to return to sustainable growth by simplifying its business structure and improving its value proposition for customers. WPP has shed 44 businesses over 15 months while winning contracts and extending assignments with big clients like eBay (EBAY), Facebook's Instagram and L'Oreal.

While WPP's financial performance has struggled, its dividends have actually accelerated over the past five years, jumping 40% between 2013 and 2018. And the 2019 interim dividend is 15% larger than last year's interim payout.

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