BKB Unveils European Dividend Gems for Volatile Markets
Basler Kantonalbank (BKB) has unveiled a list of European dividend gems for the October market start. The list includes companies offering high dividend yields and positive growth, seen as a safe haven for investors during market volatility.
To qualify, companies must boast an estimated dividend yield of over 3.5%, a 'market weight' or 'overweight' rating, and positive dividend growth over the past three years. Swiss stocks Zurich Insurance and Cembra Money Bank make the cut, both with dividend yields exceeding 5% and an 'overweight' rating. However, Vontobel has recently lowered the price target for Zurich Insurance to 585 CHF while maintaining a 'Hold' rating, with no current price target found for Cembra Money Bank.
Topping the BKB list is French supermarket chain Carrefour, with an expected dividend yield of 7.80%. Despite a stock price drop from over 80 euros to around 13 euros, it has shown signs of recovery. Joining Carrefour are French bank Truist and energy company Totalenergies, both with dividend yields over 6%. Analysts predict Truist shares to increase by 17% and Totalenergies shares to strengthen to 60.20 euros in the next 12 months.
High dividend yields from these European companies are more attractive than bonds when interest rates are low. While US 'dividend aristocrats' like Chevron, Exxon Mobil, and PepsiCo also offer attractive yields, the BKB list provides a European focus for investors seeking stable, high-yielding investments.
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