It’s
Income
Week
across
Morningstar’s
European
editorial
websites,
so
we’ve
got
the
map
out
to
look
at
high-yielding
dividend
opportunities
at
some
of
Europe’s
biggest
companies.
Readers
may
remember
our
2023
version
of
this
piece
–
produced
for
last
year’s
Income
Week
–
but
much
has
changed
since
then.
Last
time,
most
people
would
have
agreed
inflation
was
still
“high”.
In
the
UK,
it’s
now
sitting
just
above
the
Bank
of
England’s
2%
target
at
2.3%.
Across
the
eurozone
itself,
it’s
only
slightly
higher
–
at
2.4%.
The
war
on
price
rises
has
made
progress,
then,
but
that’s
not
the
only
thing
that’s
changed.
The
overall
economic
picture
across
Europe
does
now
seem
slightly
brighter
too.
Just
yesterday,
S&P
Global’s
provisional
purchasing
manager
index
survey
rose
to
52.3%
for
May
2024,
from
51.7
in
April.
In
the
UK,
the
short-term
economic
outlook
also
looks
slightly
more
certain.
It’s
clearly
certain
enough
for
the
prime
minister
to
call
a
Summer
election.
Despite
the
obvious
positives,
income
remains
crucial
to
retail
investors’
portfolios
and,
as
far
as
equity
investors
are
concerned,
dividends
are
still
a
huge
part
of
the
picture.
Over
the
past
year,
the
trend
has
been
one
of
stable
dividend
growth
across
Europe,
new
dividends
in
the
US
(notably
at
Facebook
owner
Meta
[Meta]),
and,
overall,
the
onward
march
of
share
buyback
programmes
as
company
boards
bolster
their
share
prices
by
rewarding
investor
patience.
To
identify
the
companies
in
the
below
map
of
highest-yielding
dividend
stocks
stocks,
senior
data
journalist
Sunniva
Kolostyak
used
Morningstar
Direct
to
select
European
companies
that
have
paid
dividends
at
some
point
since
the
start
of
2022,
and
have
an
expected
dividend
“yield”
(the
formula
used
to
calculate
yield
is
to
divide
the
annual
dividend
amount
paid
by
a
company
per
share
by
its
current
share
price).
Across
the
UK
and
eurozone,
investors
can
expect
large
dividend
yields
from
a
variety
of
larger
and
smaller
companies.
A
word
of
caution:
this
is
not
necessarily
a
good
thing
long-term,
as
smart
investors
will
look
for
sustainable
sources
of
income
from
companies
with
good
balance
sheets
and
compelling
economic
moats.
But,
for
an
imaginative
moment
at
least,
let
the
expectations
do
the
talking.
Which
European
Large-Cap
Stocks
Pay
The
Highest-Yielding
Dividends?
In
the
large-cap
space,
however,
the
numbers
are
somewhat
less
explosive,
but
relative
to
the
country
unweighted
expected
average
performance,
are
still
high.
Beginning
with
the
UK,
the
three
highest-yielding
dividend
stocks
for
sale
to
investors
include
Ithaca
Energy
(ITH)
with
a
yield
of
18%;
TORM
(TRMD
A)
with
a
yield
of
15%,
and
Phoenix
Group
(PHNX)
whose
dividend
yield
is
10%.
Across
the
Eurozone,
Germany,
France,
and
Spain
lead
the
yielders
league
table,
with
Deutsche
EuroShop
(DHRPY),
France’s
Icade
(ICAD),
and
Spain’s
Enagas
(ENG)
yielding
24%,
17%,
and
15%,
respectively.
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