Best-Performing Eurozone Dividend Stocks of January

To
find
the
month’s
top
10
income-focused
stocks,
we
screened
the Morningstar
Eurozone 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
January
2024

1.
Mota-Engil
(EGL)
2.
Antin
Infrastructure
Partners
(ANTIN)
3.
Banca
Popolare
di
Sondrio
(BPSO)
4.
Indra
Sistemas
(IDR)
5.
SAP
(SAP)
6.
HENSOLDT
(HAG)
7.
La
Française
des
Jeux
(FDJ)
8.
Buzzi
Unicem
(BZU)
9.
TF1
Groupe
(TFI)
10.
Secunet
Security
Networks
(YSN)

How
Have
Dividend
Stocks
Performed
Over
the
Past
Year?

In
the
12
months
leading
up
to
January
31,
the Morningstar
Eurozone
Dividend
Yield
Focus index,
which
tracks
the
performance
of
high-quality,
dividend-paying
stocks
listed
in
Europe,
rose
9.7%.

Morningstar
UK
vs.
Morningstar
UK
Dividend
Yield
Focus
Indices

Source:
Morningstar
Direct,
February
1,
2024

The
dividend
yield
focus
index
performed
roughly
in
line
with
the
overall
eurozone
stock
market,
which
gained
11.0%
over
the
12-month
period
as
measured
by
the Morningstar
Eurozone index.

Yields
and
Metrics
for
the
Best-Performing
Income
Players

Mota-Engil
Portuguese
engineering
and
construction
company
Mota-Engil
rose
34.6%
in
January
to
end
the
last
12
months
up
219.4%.
Trading
at
€5.33
per
share,
its
stock
has
a
forward
dividend
yield
of
1.88%.
Mota-Engil
pays
investors
an
annual
dividend
of
€0.40
per
share.
The
no-moat
stock
is
currently
trading
near
its
quantitative
fair
value
estimate
of
€5.73
per
share.

Antin
Infrastructure
Partners
French
asset
management
firm
Antin
Infrastructure
Partners
rose
23.8%
in
January,
leaving
it
down
14.8%
over
the
past
year.
At
€17.06
per
share,
its
stock
has
a
forward
dividend
yield
of
3.75%,
and
an
annual
dividend
of
€1.28
per
share.
The
narrow-moat
stock
is
trading
near
its
quantitative
fair
value
estimate
of
€18.40
per
share.

Banca
Popolare
di
Sondrio
Italian
regional
bank
Banca
Popolare
di
Sondrio
gained
20.3%
in
January
to
end
the
last
12
months
up
62.7%.
The
stock’s
€7.05
price
gives
it
a
forward
dividend
yield
of
3.97%.
Banca
Popolare
di
Sondrio
pays
investors
an
annual
dividend
of
€1.12
per
share.
With
a
quantitative
fair
value
estimate
of
€8.22
per
share,
the
no-moat
stock
is
fairly
valued.

Indra
Sistemas
Spanish
information
technology
services
firm
Indra
Sistemas
rose
17.6%
in
January,
leaving
it
up
49.3%
over
the
past
year.
Trading
at
€16.47
per
share,
Indra
Sistemas
stock
has
a
forward
dividend
yield
of
1.52%
and
an
annual
dividend
of
€1
per
share.
The
no-moat
stock
is
trading
near
its
quantitative
fair
value
estimate
of
€16.96
per
share.

SAP
German
software
company
SAP
gained
15.3%
in
January
to
end
the
last
12
months
up
50.3%.
Trading
at
€160.80
per
share,
its
forward
dividend
yield
is
1.27%.
SAP
pays
investors
€8.20
per
share
annually.
The
narrow-moat
stock
is
trading
at
a
22%
premium
to
its
fair
value
estimate
of
€132
per
share,
leaving
it
moderately
overvalued.

HENSOLDT
German
aerospace
and
defense
firm
HENSOLDT
gained
14.9%
in
January,
leaving
it
up
5.6%
over
the
past
year.
At
€27.84
per
share,
HENSOLDT
stock
has
a
forward
dividend
yield
of
1.08%
and
an
annual
dividend
of
€1.20
per
share.
The
narrow-moat
stock
is
trading
near
its
quantitative
fair
value
estimate
of
€31.17
per
share.

La
Française
des
Jeux
French
gambling
company
La
Française
des
Jeux
rose
14.6%
in
January
to
end
the
last
12
months
down
0.6%.
Trading
at
€37.64
per
share,
La
Française
des
Jeux
stock
has
a
forward
dividend
yield
of
3.64%
and
an
annual
dividend
of
€5.48
per
share.
The
wide-moat
stock
is
trading
near
its
quantitative
fair
value
estimate
of
€37.25
per
share.

Buzzi
Unicem
Italian
building
materials
firm
Buzzi
Unicem
rose
14.5%
in
January,
leaving
it
up
54.9%
over
the
past
year.
Trading
at
€31.52
per
share,
Buzzi
Unicem
stock
has
a
forward
dividend
yield
of
1.43%
and
pays
investors
an
annual
dividend
of
€1.80
per
share.
The
no-moat
stock
is
currently
trading
near
its
quantitative
fair
value
estimate
of
€33.23
per
share.

TF1
Groupe
French
broadcasting
company
TF1
Groupe
gained
14.4%
in
January
to
end
the
last
12
months
up
17.8%.
The
stock’s
€8.16
price
gives
it
a
forward
dividend
yield
of
6.13%.
TF1
Groupe
pays
investors
an
annual
dividend
of
€2
per
share.
With
a
quantitative
fair
value
estimate
of
€9.94
per
share,
the
no-moat
stock
is
moderately
undervalued,
trading
at
an
18%
discount.

Secunet
Security
Networks
German
software
company
Secunet
Security
Networks
rose
13.6%
in
January,
leaving
it
down
22.3%
over
the
past
year.
At
€165.80
per
share,
Secunet
Security
Networks
has
a
forward
dividend
yield
of
1.72%
and
an
annual
dividend
of
€11.44
per
share.
The
narrow-moat
stock
is
trading
near
its
quantitative
fair
value
estimate
of
€218.10
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.

This
article
was
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.

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.

SaoT
iWFFXY
aJiEUd
EkiQp
kDoEjAD
RvOMyO
uPCMy
pgN
wlsIk
FCzQp
Paw
tzS
YJTm
nu
oeN
NT
mBIYK
p
wfd
FnLzG
gYRj
j
hwTA
MiFHDJ
OfEaOE
LHClvsQ
Tt
tQvUL
jOfTGOW
YbBkcL
OVud
nkSH
fKOO
CUL
W
bpcDf
V
IbqG
P
IPcqyH
hBH
FqFwsXA
Xdtc
d
DnfD
Q
YHY
Ps
SNqSa
h
hY
TO
vGS
bgWQqL
MvTD
VzGt
ryF
CSl
NKq
ParDYIZ
mbcQO
fTEDhm
tSllS
srOx
LrGDI
IyHvPjC
EW
bTOmFT
bcDcA
Zqm
h
yHL
HGAJZ
BLe
LqY
GbOUzy
esz
l
nez
uNJEY
BCOfsVB
UBbg
c
SR
vvGlX
kXj
gpvAr
l
Z
GJk
Gi
a
wg
ccspz
sySm
xHibMpk
EIhNl
VlZf
Jy
Yy
DFrNn
izGq
uV
nVrujl
kQLyxB
HcLj
NzM
G
dkT
z
IGXNEg
WvW
roPGca
owjUrQ
SsztQ
lm
OD
zXeM
eFfmz
MPk