5 Best European Dividend Stocks to Buy Now

3. Sanofi (NASDAQ:SNY)

Dividend Yield as of October 22: 4.32%

Sanofi (NASDAQ:SNY) is a French multinational pharmaceutical and healthcare company that provides life-changing treatments to its consumers. In October, Barclays maintained an Equal Weight rating on the stock with an €85 price target, highlighting the company’s balance sheet and earnings growth.

In Q2 2022, Sanofi (NASDAQ:SNY) reported a free cash flow of over €1.5 billion, up 7.5% from the same period last year. The company’s revenue for the quarter came in at €10.1 billion, versus a consensus of €9.8 billion. Its vaccines were also up by 8.7% due to a strong rebound in travel and booster shots.

Sanofi (NASDAQ:SNY) has been raising its dividends consistently for the past 28 years, coming through as one of the best dividend stocks on our list. The company currently pays €0.83 per share in quarterly dividends and has a yield of 4.32%, as of October 22.

The number of hedge funds tracked by Insider Monkey owning stakes in Sanofi (NASDAQ:SNY) grew to 28 in Q2 2022, from 19 in the previous quarter. These stakes have a consolidated value of over $1.68 billion. With 4 million shares, Camber Capital Management was one of the company’s leading stakeholders in Q2.