5 Best European Dividend Stocks to Buy Now

2. National Grid plc (NYSE:NGG)

Forward Dividend Yield: 6.31%

Number of Hedge Fund Holders: 10

National Grid plc (NYSE:NGG) is a London, UK-based electric and gas utility company with operations in the UK and the US. The company is one of the world’s biggest publicly listed utility companies.

Experts consider National Grid plc (NYSE:NGG) as one of the best European stocks because it is likely to act as an inflation hedge. The company is set to experience EPS growth in double digits in the coming years. National Grid plc (NYSE:NGG) is making a significant capital outlay in renewable energy that will transform its portfolio down the line. By 2026, National Grid plc (NYSE:NGG) intends to invest as much as $39 billion across its various business divisions to become a net-zero emission entity by 2050. National Grid plc (NYSE:NGG) company has been increasing its dividends for the last 11 consecutive years.

Here’s what ClearBridge Investments said about National Grid plc (NYSE:NGG) in its Q4 2021 investor letter:

“National Grid is one of the world’s largest publicly owned utilities, focused on transmission and distribution activities in electricity and gas. National Grid performed strongly during the quarter as the business continued to de-risk following prior regulatory decisions and significant M&A. The company also benefited from falling real rates, a solid set of half-year results and strong Investor Day presentations.”