Best-Performing Eurozone Dividend Stocks

To
find
the
month’s
10
best-performing
income-focused
stocks,
we
screened
the Morningstar
Eurozone
GR
EUR index
–
which
measures
the
performance
of
the
eurozone’s
broad
regional
markets,
targeting
the
top
97%
of
stocks
by
market
capitalisation
–
for
companies
with
a
forward
dividend
yield
of
at
least
1%,
excluding
real
estate
investment
trusts.

The
Best-Performing
Eurozone
Dividend
Stocks
of
February
2024

1.
Rheinmetall
(RHM)
2.
Unipol
Gruppo
(UNI)
3.
UCB
(UCB)
4.
HENSOLDT
(HAG)
5.
Stellantis
(STLA)
6.
Be
Semiconductor
Industries
(BESI)
7.
Konecranes
(KCR)
8.
Vopak
(VPK)
9.
Cargotec
(CGCBV)
10.
Mercedes-Benz
Group
(MBG)

[STOCKS
CHART]

How
Have
Dividend
Stocks
Performed
Over
the
Past
Year?

In
the
12
months
leading
up
to
February
29,
the Morningstar
Eurozone
Dividend
Yield
Focus
GR
EUR index,
which
tracks
the
performance
of
high-quality,
dividend-paying
stocks
listed
in
Europe,
rose
7.9%.

[INDEXES
CHART]

The
dividend
yield
focus
index
underperformed
the
overall
eurozone
stock
market,
which
gained
12.5%
over
the
12-month
period
as
measured
by
the Morningstar
Eurozone
GR
EUR index.

Yields
and
Metrics
for
the
Best-Performing
Income
Payers

Rheinmetall

German
aerospace
and
defence
company
Rheinmetall
rose
30.5%
in
February
to
end
the
last
12
months
up
78%.
Trading
at
€424
per
share,
its
stock
has
a
forward
dividend
yield
of
1.01%.
Rheinmetall
pays
investors
an
annual
dividend
of
€4.30
per
share.
The
wide-moat
stock
is
currently
trading
near
its
fair
value
estimate
of
€445
per
share.

Unipol
Gruppo

Italian
diversified
insurance
firm
Unipol
Gruppo
rose
29%
in
February,
leaving
it
up
56%
over
the
past
year.
At
€7.43
per
share,
its
stock
has
a
forward
dividend
yield
of
4.98%
and
an
annual
dividend
of
€0.37
per
share.
The
no-moat
stock
is
moderately
undervalued,
trading
21%
below
its
quantitative
fair
value
estimate
of
€9.46
per
share.

UCB

Belgian
biotechnology
company
UCB
gained
22%
in
February
to
end
the
last
12
months
up
32.5%.
The
stock’s
€106.50
price
gives
it
a
forward
dividend
yield
of
1.28%.
UCB
pays
investors
an
annual
dividend
of
€1.33
per
share.
With
a
fair
value
estimate
of
€99
per
share,
the
no-moat
stock
is
fairly
valued.

HENSOLDT

German
aerospace
and
defence
firm
HENSOLDT
rose
21.5%
in
February,
leaving
it
up
9.9%
over
the
past
year.
Trading
at
€33.82
per
share,
HENSOLDT
stock
has
a
forward
dividend
yield
of
1.18%
and
an
annual
dividend
of
€0.30
per
share.
The
narrow-moat
stock
is
trading
near
its
quantitative
fair
value
estimate
of
€33.89
per
share.

Stellantis

US-Italian
auto
manufacturer
Stellantis
gained
19.6%
in
February
to
end
the
last
12
months
up
58.3%.
Trading
at
USD
26.26
per
share,
its
forward
dividend
yield
is
6.33%.
Stellantis
pays
investors
USD
1.34
per
share
annually.
The
no-moat
stock
is
trading
at
a
36%
discount
to
its
fair
value
estimate
of
USD
41
per
share,
leaving
it
moderately
undervalued.

Be
Semiconductor
Industries

Dutch
semiconductor
equipment
and
materials
firm
Be
Semiconductor
Industries
gained
19.6%
in
February,
leaving
it
up
131.7%
over
the
past
year.
At
€167.15
per
share,
Be
Semiconductor
Industries
stock
has
a
forward
dividend
yield
of
1.29%
and
an
annual
dividend
of
€2.85
per
share.
The
narrow-moat
stock
is
moderately
overvalued,
trading
52%
above
its
fair
value
estimate
of
€110
per
share.

Konecranes

Finnish
farm
and
heavy
construction
machinery
company
Konecranes
rose
19.5%
in
February
to
end
the
last
12
months
up
51.6%.
Trading
at
€47.60
per
share,
Konecranes
stock
has
a
forward
dividend
yield
of
2.84%
and
an
annual
dividend
of
€1.25
per
share.
The
narrow-moat
stock
is
trading
near
its
quantitative
fair
value
estimate
of
€49.95
per
share.

Vopak

Dutch
oil
and
gas
midstream
firm
Vopak
rose
18.8%
in
February,
leaving
it
up
18.2%
over
the
past
year.
Trading
at
€34.38
per
share,
Vopak
stock
has
a
forward
dividend
yield
of
4.36%
and
pays
investors
an
annual
dividend
of
€1.30
per
share.
The
no-moat
stock
is
currently
trading
at
a
16%
discount
to
its
quantitative
fair
value
estimate
of
€41.06
per
share,
leaving
it
moderately
undervalued.

Cargotec

Finnish
farm
and
heavy
construction
machinery
company
Cargotec
gained
18.7%
in
February
to
end
the
last
12
months
up
32.5%.
The
stock’s
€62.50
price
gives
it
a
forward
dividend
yield
of
2.16%.
Cargotec
pays
investors
an
annual
dividend
of
€1.35
per
share.
With
a
quantitative
fair
value
estimate
of
€72.98
per
share,
the
narrow-moat
stock
is
fairly
valued.

Mercedes-Benz
Group

German
auto
manufacturer
Mercedes-Benz
rose
17.2%
in
February,
leaving
it
up
8.5%
over
the
past
year.
At
€73.64
per
share,
Mercedes-Benz
has
a
forward
dividend
yield
of
7.2%
and
an
annual
dividend
of
€5.20
per
share.
The
narrow-moat
stock
is
moderately
undervalued,
trading
37%
below
its
fair
value
estimate
of
€117
per
share.

What
Is
the
Morningstar
Eurozone
Index?

The
Morningstar
Eurozone
index
measures
the
performance
of
the
eurozone’s
broad
regional
markets,
targeting
the
top
97%
of
stocks
by
market
capitalisation.
The
index
does
not
incorporate
environmental,
social,
or
governance
criteria.

What
Is
the
Morningstar
Eurozone
Dividend
Yield
Focus
Index?

The
Morningstar
Eurozone
Dividend
Yield
Focus
index
captures
the
performance
of
a
portfolio
of
high-quality,
dividend-paying
securities.

The
Morningstar
Eurozone
Dividend
Yield
Focus
index
captures
the
performance
of
a
portfolio
of
high-quality,
dividend-paying
securities.
It’s
a
subset
of
the
Morningstar
Eurozone
index
(which
represents
97%
of
the
equity
market
capitalization)
that
includes
only
stocks
that
pay
dividends.
The
stocks
are
screened
for
economic
moat
and
financial
strength
compared
to
others
in
their
sector.
Real
estate
investment
trusts
are
excluded.

From
there,
the
25
highest-yielding
stocks
are
included
in
the
index,
weighted
by
the
dollar
value
of
the
dividends.
See
the
full
rulebook here.

The
Best
Dividend
Stock
Leaders:
More
Ideas
to
Consider

Investors
who
would
like
to
uncover
more
top-performing
or
cheap
dividend
stocks
to
research
further
can
do
the
following: 

Review
the
full
list
of
Dividend
stocks
included
in
the Morningstar
Eurozone
Dividend
Yield
Focus index.
Those
dividend
stocks
with
Morningstar
Ratings
of
4
or
5
stars
are
undervalued,
according
to
our
metrics.

Read
our
monthly
analysis
of
the
latest
dividend
moves among
the
top
FTSE
100
dividend
payers.

Use
our Morningstar
Screener tool
to
find
the
best
dividend
stocks
according
to
your
specific
criteria.
You
can
search
for
stocks
based
on
their
dividend
yields,
valuation
measures
such
as
price/earnings,
and
more.

Use Morningstar
Portfolio
Manager to
build
a
watchlist
of
the
best
dividend
stocks
and
create
a
view
that
allows
you
to
easily
follow
the
valuations,
ratings,
and
dividend
yields
of
the
stocks
in
your
list.

Companies
that
are
not
formally
covered
by
a
Morningstar
analyst
have
quantitative
ratings.
These
companies
are
statistically
matched
to
analyst-rated
companies,
allowing
our
models
to
calculate
a
quantitative
moat,
fair
value,
and
uncertainty
rating.

This
article
was
compiled
by
Bella
Albrecht,
edited
by
Lauren
Solberg,
and
reviewed
by
Sunniva
Kolostyak.

As
part
of
our
mission
to
put
more
information
into
the
hands
of
investors,
this
article
was
compiled
from
Morningstar’s
data
and
independent
research
using
automation
technology.
The
original
article
was
written
by
Morningstar
reporters
and
editors.
This
updated
version
was
reviewed
by
an
editor.

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