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Which European Stocks Pay Dividends in October 2026?

TotalEnergies, Société Générale, and GSK are among stocks distributing dividends next month.

The logo of Societe Generale is seen on the facade of a building.
Chesnot via Getty

Of the 100 largest European companies by market capitalization in the Morningstar Europe Index, six stocks will pay a dividend next month.

Key Morningstar Metrics for TotalEnergies TTE

Allen Good, equity analyst for Morningstar, says:

“We rate Total’s shareholder distribution policy as appropriate. Total was one of the few oil majors to maintain its dividend in 2020 and took additional steps to reduce costs and capital spending to keep the dividend affordable. The bulk of share repurchases occurred when share prices were below our fair value estimate and, therefore, looked reasonable.

“Its introduction of a variable distribution plan makes sense given the likely continued volatility of commodity prices during the remainder of the decade. A special dividend, declared in euros, benefited US shareholders, as dividend growth was offset by US dollar strength. However, given the cheapness of the shares at the time, we’d prefer to see more repurchases instead.”

Key Morningstar Metrics for Société Générale GLE

Key Morningstar Metrics for GSK GSK

Jay Lee, equity analyst for Morningstar, says:

“We view GSK’s shareholder distributions as fair. Since 2022, its dividend payout ratio has fallen to around 40% (from 70%), a reasonable level for this industry, as it leaves more cash on hand to fund necessary research and development.”

Key Morningstar Metrics for Vinci DG

Matthew Donen, equity analyst for Morningstar, says:

“We assign a Standard Morningstar Capital Allocation Rating to Vinci. Our rating is premised on investments that have increased the group’s earnings contribution from Vinci’s concessions business, which enjoys durable competitive advantages and places less importance on the more cyclical and short-cycle contracting segment. A more recurring earnings stream has also allowed Vinci to target an appropriate 50% dividend payout policy and maintain a sound balance sheet. Vinci’s balance sheet is one of the most conservative among its infrastructure peers.”

Key Morningstar Metrics for Atlas Copco ATCO A

Analyst: Joachim Kotze, CFA

Joachim Kotze, equity analyst for Morningstar, says:

“Atlas Copco’s balance sheet is consistently well managed, with net debt/EBITDA averaging around 0.4 times over the past decade. This financial prudence enables the company to act opportunistically, particularly when attractive M&A targets arise, without compromising ongoing investment or dividends. It also offers a buffer against the cyclical nature of its end markets. The company aims to return roughly 50% of earnings via dividends, a proven maintainable level that does not hinder reinvestment in the business.”

Key Morningstar Metrics for Universal Music Group UMG

Matthew Dolgin, equity analyst for Morningstar, says:

“Shortly after Vivendi spun out Universal as an independent public company in 2021, Universal brought its net debt/adjusted EBITDA ratio below 1.0, where it remained until 2026, when the firm began issuing debt to fund share repurchases. We believe repurchases are a good use of capital, especially given its balance sheet that can handle the debt. Universal’s policy is to pay out 50% of adjusted net income as a semiannual dividend to shareholders.”

The author or authors do not own shares in any securities mentioned in this article. Find out about Morningstar's editorial policies.

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