In this article, we will take a look at some of the best European dividend stocks.
Dividend investing has been gaining traction among investors not only in the US but across global markets. In Europe, companies have built a reputation for steady payouts, and the region has delivered consistent dividend growth over the years.
A new report from S&P Global Market Intelligence suggests that European dividends, excluding special payments, are expected to rise 3.5% year over year and reach €486.1 billion by the end of 2025. The pace is slower than in 2024, when aggregate payouts climbed 7.5%, but the firm noted that strength in banking, insurance, and capital goods should more than make up for weaker contributions from materials and automotive companies.
When including special dividends, which are rare, one-off payments that are difficult to predict, total payouts are forecast to inch up 1.3% in 2025 to roughly €503.5 billion, compared with a 5.8% increase the year before. With 81% of next year’s dividends already confirmed, S&P said the early trend for 2025 is already largely set.
Looking ahead to 2026, the report estimates that European dividends, excluding special payments, will grow another 3.2% year over year to about €501.6 billion. Insurance and pharmaceuticals are expected to drive that increase, while the automotive sector is likely to continue weighing on overall growth.
Given this, we will take a look at some of the best European dividend stocks.
Image by Nattanan Kanchanaprat from Pixabay
Our Methodology:
For this article, we used the Finviz stock screener to filter out European dividend stocks. We focused on picking stocks with a consistent record of paying dividends, offering dividend growth, and being financially stable to steer clear of yield traps. The list below is ranked in ascending order of dividend yield as of November 18.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 427.7% since May 2014, beating its benchmark by 264 percentage points (see more details here).
12. Aon plc (NYSE:AON)
Dividend Yield as of November 18: 0.85%
Aon plc (NYSE:AON) is among the best dividend stocks to invest in.
UBS analyst Brian Meredith cut the price target on Aon plc (NYSE:AON) to $390 from $400 on November 10 and maintained a Neutral stance on the stock, according to a report by The Fly.
In the third quarter of 2025, Aon plc (NYSE:AON) posted another solid performance, reporting 7% total revenue growth along with 7% organic growth. Management noted that the firm continued to advance its Aon United strategy through the 3×3 Plan to keep up with rising client demand. They also pointed out that large-scale innovation through Aon Business Services was helping them invest for long-term revenue growth while lifting margins at the same time.
Net income attributable to shareholders rose 34% to $2.11 per diluted share, up from $1.57 a year earlier. For the first nine months of 2025, operating cash flow increased by $249 million, reaching $2.1 billion, a 14% improvement from the same period last year. Free cash flow for the period also grew 13% to $1.9 billion, supported by stronger operating cash generation.
Aon plc (NYSE:AON) is a global professional services company offering risk management, insurance, and human capital solutions, headquartered in London.
11. Linde plc (NASDAQ:LIN)
Dividend Yield as of November 18: 1.45%
Linde plc (NASDAQ:LIN) is among the best dividend stocks to invest in.
UBS analyst Joshua Spector upgraded Linde plc (NASDAQ:LIN) to Buy from Neutral on November 11, setting a new price target of $500, down slightly from $507, according to a report by The Fly. He noted that the company’s expected earnings growth acceleration in 2026 could act as a catalyst for the shares. He also described the company as a “defensive growth stock at an attractive risk/reward,” pointing out in his research note that the stock is trading at a 10% discount to its historical average multiple, a level typically seen when investor confidence in growth trends is lower.
In the third quarter of 2025, Linde plc (NASDAQ:LIN) reported $8.6 billion in revenue, a 3% increase from a year earlier. Operating profit reached $2.4 billion, while adjusted operating profit came in at $2.6 billion, also up 3%. Operating cash flow for the quarter rose 8% year over year to $2.9 billion.
In June 2025, Linde plc (NASDAQ:LIN) entered into a long-term agreement to supply industrial gases to a $4 billion low-carbon ammonia project under development in Louisiana. As part of this agreement, the company plans to invest $400 million in a new on-site facility that will work alongside its existing hydrogen and syngas infrastructure in the area.
Linde plc (NASDAQ:LIN) is a global industrial gases and engineering firm that supports a wide range of industries with high-quality gases, specialized mixtures, and related technologies.
10. Nokia Oyj (NYSE:NOK)
Dividend Yield as of November 18: 2.36%
Nokia Oyj (NYSE:NOK) is among the best European dividend stocks to invest in.
On November 11, Deutsche Bank lifted its price target on Nokia Oyj (NYSE:NOK) to EUR 6.75 from EUR 4.75 and continued to rate the stock as a Buy, as reported by The Fly.
Nokia Oyj (NYSE:NOK)’s stock has climbed more than 48% since the beginning of 2025, supported by several major developments. At the end of October, the company posted strong earnings, and it also revealed that Nvidia is investing $1 billion in the business.
Nokia Oyj (NYSE:NOK) also unveiled a new partnership with Latvijas Mobilais Telefons (LMT), Latvia’s largest mobile operator and a key technology provider to the defense sector. The two companies will combine Nokia’s advanced 5G radio technology with LMT’s defense capabilities to create a secure, high-capacity tactical communications system tailored for specialized regional needs.
Nokia Oyj (NYSE:NOK) is a global telecom company focused on building the infrastructure behind mobile and fixed networks, including 5G, fiber, cloud, and data center solutions.
9. UBS Group AG (NYSE:UBS)
Dividend Yield as of November 18: 2.38%
UBS Group AG (NYSE:UBS) is one of the best dividend stocks to invest in.
On November 17, UBS Group AG (NYSE:UBS) confirmed that it intends to continue operating from Switzerland, following reports that UBS Chair Colm Kelleher and US Treasury Secretary Scott Bessent had privately discussed relocating the bank’s headquarters to the US. The Financial Times reported that the discussions took place as the Zurich-based lender considered contingency plans in case the Swiss government did not ease upcoming capital regulations.
In the third quarter of 2025, UBS Group AG (NYSE:UBS) saw strong client activity, with quarterly asset inflows driving a 4% sequential growth in Group invested assets to $6.9 trillion. Global Wealth Management added $38 billion in net new assets, bringing year-to-date net new assets to $92 billion. Asset Management also crossed the $2 trillion mark, helped by $18 billion in net new money in Q3.
The bank maintained a solid balance sheet with a 14.8% CET1 capital ratio and a 4.6% CET1 leverage ratio, while continuing to execute its capital return plans. UBS completed $1.1 billion in share buybacks in Q3 and plans up to $0.9 billion in Q4, aiming to reach a total of $3 billion for 2025. The company also continues to support double-digit dividend growth.
UBS Group AG (NYSE:UBS) is a global, diversified financial services firm, with its core strength in wealth management for high-net-worth and ultra-high-net-worth clients.
8. Novartis AG (NYSE:NVS)
Dividend Yield as of November 18: 3.12%
Novartis AG (NYSE:NVS) is one of the best dividend stocks to invest in.
On October 31, Morgan Stanley upgraded Novartis AG (NYSE:NVS) to Overweight from Equal Weight, raising its price target to CHF 110 from CHF 108, as reported by The Fly. The firm cited an attractive valuation following the recent market sell-off. The analyst noted that Novartis is improving its portfolio mix ahead of the upcoming Rhapsido launch. While Morgan Stanley expects modest growth in 2026, it anticipates acceleration starting in 2027.
In the third quarter of 2025, Novartis AG (NYSE:NVS) reported revenue of $13.9 billion, up 8% from the same period last year. Free cash flow for Q3 reached $6.2 billion, a 4% increase, supported by stronger net cash from operating activities. Operating income rose 24% to $4.5 billion, driven by higher sales and lower impairments, partially offset by increased R&D spending. Net income increased 23% to $3.9 billion, primarily due to higher operating income.
Looking ahead, Novartis AG (NYSE:NVS) reaffirmed its 2025 guidance, expecting high single-digit sales growth and low-teen growth in core operating income. The company is addressing pipeline challenges as three major drugs, including its blockbuster heart medication Entresto, face generic competition this year. To counter these pressures, Novartis is expanding into cancer and autoimmune therapies and accelerating acquisitions.
Novartis AG (NYSE:NVS) is an innovative medicines company that discovers, develops, and manufactures treatments designed to improve and extend lives while tackling serious diseases.
7. Unilever PLC (NYSE:UL)
Dividend Yield as of November 18: 3.43%
Unilever PLC (NYSE:UL) is among the best dividend stocks to invest in.
On November 5, Jefferies raised its price target on Unilever PLC (NYSE:UL) to 4,000 GBp from 3,800 GBp while maintaining an Underperform rating on the shares, according to a report by The Fly. The firm increased short-term earnings estimates following Q3 results but noted that achieving sustained volume growth of 2.5% remains “ambitious.”
In Q3 2025, Unilever PLC (NYSE:UL) reported underlying sales growth of 3.9% and continued to generate steady cash flow, with turnover surpassing £59 billion over the trailing 12 months. Its operating margin remained stable at 16.1%, demonstrating effective cost management and sustained profitability. The strong performance reflected the benefits of Unilever’s ongoing multi-year portfolio transformation.
Unilever PLC (NYSE:UL) outperformed in developed markets during the quarter, supported by a strong innovation program. Emerging markets also improved following targeted interventions, with growth returning in Indonesia and China. Growth was broad-based across all Business Groups and driven by Unilever’s Power Brands. Excluding Ice Cream, performance showed sequential improvement, with higher volume growth.
Unilever PLC (NYSE:UL) is a multinational consumer goods company that manufactures and markets a wide range of products.
6. GSK plc (NYSE:GSK)
Dividend Yield as of November 18: 3.57%
GSK plc (NYSE:GSK) is among the best dividend stocks to buy now.
On October 31, JPMorgan lowered its price target on GSK plc (NYSE:GSK) to 1,440 GBp from 1,550 GBp while maintaining an Underweight rating on the stock, according to a report by The Fly.
GSK plc (NYSE:GSK) shares have risen nearly 40% since the start of 2025, driven by strong third-quarter results and an improved 2025 outlook. The company reported sales of £8.5 billion, up about 7% year-on-year, with the Specialty Medicines division performing particularly well, growing 16% to £3.4 billion.
Oncology sales were a major highlight, increasing almost 39%, reflecting the strength of GSK plc (NYSE:GSK)’s new drug portfolio following the divestment of its pharmaceutical arm. The company’s performance has also been supported by positive clinical updates, especially for its respiratory biologics and RSV vaccine.
GSK plc (NYSE:GSK) is a British multinational pharmaceutical company engaged in the research, development, and manufacture of specialty medicines, vaccines, and general medicines.
5. Novo Nordisk A/S (NYSE:NVO)
Dividend Yield as of November 18: 3.63%
Novo Nordisk A/S (NYSE:NVO) is among the best dividend stocks to buy now.
On November 14, Berenberg lowered its price target on Novo Nordisk A/S (NYSE:NVO) to DKK 400 from DKK 425 while maintaining a Buy rating on the shares, according to a report by The Fly.
Novo Nordisk A/S (NYSE:NVO) recently announced a price cut to compete with Eli Lilly (LLY) in the obesity-drug market, signaling a more aggressive effort to regain U.S. market share. For the first two months, the drugs will be available through Novo’s direct-to-consumer NovoCare portal at $349 per month, which is around 30% below current self-pay pricing. The self-pay cost for Ozempic 2mg will remain $499 per month.
In the third quarter of 2025, Novo Nordisk A/S (NYSE:NVO) reported revenue of DKK 154.94 billion, up 16.1% year-on-year. Operating profit rose 25%, while sales in the Diabetes and Obesity care segment increased 16%. Free cash flow reached DKK 33.6 billion, and the company returned DKK 35.6 billion to shareholders.
Novo Nordisk A/S (NYSE:NVO) is a global healthcare company that develops and manufactures treatments for serious chronic diseases, historically focusing on diabetes.
4. Shell plc (NYSE:SHEL)
Dividend Yield as of November 18: 3.80%
Shell plc (NYSE:SHEL) is among the best European dividend stocks to buy right now.
On November 10, Piper Sandler raised its price target on Shell plc (NYSE:SHEL) to $90 from $87 and maintained an Overweight rating on the shares, according to a report by The Fly. The firm noted that while investor sentiment remains cautious due to concerns about the near-term outlook for crude oil, Shell’s Q3 results demonstrate the company’s strong positioning within the energy sector.
In the third quarter of 2025, Shell plc (NYSE:SHEL) reported revenue of $68.15 billion, down more than 4% from the same period last year and missing analysts’ estimates by over $3.5 billion. Despite this, the company maintained a solid cash position, generating $12.2 billion in cash flow from operating activities, primarily driven by adjusted EBITDA.
Total shareholder distributions for the quarter amounted to $5.7 billion, including $3.6 billion in share repurchases and $2.1 billion in dividends. Earlier in November, Shell plc (NYSE:SHEL) also announced plans to invest approximately $1 billion in new oil blocks in Angola, as the country seeks to increase production that has declined in recent years, according to the chairman of the oil regulator.
Shell plc (NYSE:SHEL) is a global energy and petrochemical company, providing fuel for transport, aviation, and industry, as well as lubricants, chemicals, and a wide range of other energy solutions.
3. BP p.l.c. (NYSE:BP)
Dividend Yield as of November 18: 5.34%
BP p.l.c. (NYSE:BP) is among the best dividend stocks to buy now.
On November 10, Piper Sandler raised its price target on BP p.l.c. (NYSE:BP) to $44 from $41 while maintaining a Neutral rating on the shares, as reported by The Fly.
In the third quarter of 2025, BP p.l.c. (NYSE:BP) reported revenue of $49.2 billion, up 2% from the same period last year. Upstream plant reliability stood at 96.8%, supporting a 3% quarter-on-quarter increase in underlying production. Six major projects were started in 2025. Operating cash flow for Q3 reached $7.8 billion, with stronger underlying earnings across operating segments contributing to an underlying replacement cost profit of $2.2 billion. The company now expects divestment and other proceeds for 2025 to exceed $4 billion. Full-year capital expenditure guidance remains around $14.5 billion, with organic capital expenditure expected to stay below $14 billion.
In addition, BP p.l.c. (NYSE:BP) is reportedly in discussions with investment firm Stonepeak regarding the sale of its Castrol lubricants unit, a key step toward achieving the company’s $20 billion divestment target. The sale process began earlier this year after BP announced in February that it was reviewing its century-old lubricants business as part of a broader strategy to shift away from traditional energy.
BP p.l.c. (NYSE:BP) is a global integrated energy company that explores, produces, refines, and markets oil and gas, while also investing in lower-carbon energy sources such as wind and solar power.
2. TotalEnergies SE (NYSE:TTE)
Dividend Yield as of November 18: 5.64%
TotalEnergies SE (NYSE:TTE) is among the best dividend stocks to invest in.
On November 10, Piper Sandler analyst Ryan Todd lifted the price target on TotalEnergies SE (NYSE:TTE) to $70 from $69 and maintained a Neutral rating on the stock, as reported by The Fly.
In the third quarter of 2025, the company reported revenue of $43.8 billion, which was more than 7.5% lower than the same period a year earlier. Even with the decline, TotalEnergies SE (NYSE:TTE) delivered adjusted net income in line with last year and generated $7.1 billion in cash flow, up 4%. The increase was supported by higher-margin hydrocarbon production growth and stronger Downstream performance.
The Exploration & Production segment posted adjusted net operating income of $2.2 billion and generated $4.0 billion in cash flow, rising 10% and 6% quarter over quarter. New projects contributed roughly $400 million in additional year-over-year cash flow due to margins well above the group’s average.
In a separate development, on November 17, TotalEnergies SE (NYSE:TTE) announced an agreement to acquire a 50% stake in EPH’s flexible power generation platform in Western Europe. The deal, valued at 5.1 billion euros ($5.92 billion) in stock, will more than double TotalEnergies’ net gas-fired generation capacity. This move strengthens its strategy to become a major integrated electricity provider in Europe, combining renewables and gas generation to meet rising power demand, including from data centers, while enhancing trading profits.
TotalEnergies SE (NYSE:TTE) is a global multi-energy company that produces and markets oil, biofuels, natural gas, renewables, and electricity.
1. Aegon Ltd. (NYSE:AEG)
Dividend Yield as of November 18: 5.87%
Aegon Ltd. (NYSE:AEG) is among the best dividend stocks to invest in.
Aegon (AEG) received a price target boost from Citigroup on November 17, with the firm lifting its estimate to EUR 7.69 from EUR 6.38 while reiterating a Buy rating, according to a report by The Fly.
In the third quarter of 2025, Management noted that Transamerica, its biggest unit, kept widening its WFG distribution network and held onto its commercial momentum as life and annuity sales picked up. In the U.K., the business faced some outflows after two large, low-margin schemes exited, though Aegon pointed out that its Asset Management and International operations continued to expand.
Aegon Ltd. (NYSE:AEG) also emphasized that its business stayed well capitalized during the period. Operating capital generation remained strong across the portfolio, and leadership believes they are on course to hit their full-year OCG target of EUR 1.2 billion for 2025.
Retirement Plans posted an 11% increase in gross deposits, helped by higher takeover deposits in both the large and mid-sized markets, supported by healthy written sales in earlier quarters. Written sales continued to look solid and are expected to keep supporting gross deposits moving forward. Total net outflows improved to $1.6 billion, with the company attributing the change to fewer large-market plan discontinuances.
Aegon Ltd. (NYSE:AEG) is a Dutch multinational company focused on life insurance, pensions, and asset management.
While we acknowledge the potential of AEG to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AEG and that has 100x upside potential, check out our report about this cheapest AI stock.
READ NEXT: 15 Best 52-Week Low Dividend Stocks to Invest In and 15 Stocks with Highest Dividend to Invest In
Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.
