Dividend-paying stocks that combine healthy balance sheets with hefty yields can provide investors with steady incomes, cushion against market downturns, and grow investments at a healthy clip.
In the second quarter of 2026, the top-performing dividend-payers included regional bank Mediobanca MB, regional bank Banco di Desio e della Brianza BDB, and regional bank Raiffeisen Bank International RBI.
To find the quarter’s 10 best-performing income-focused stocks, we screened the Morningstar Eurozone Index—which measures the performance of the eurozone’s broad regional markets, targeting the top 97% of stocks by market capitalization—for companies with a forward dividend yield of at least 1.5%, excluding real estate investment trusts.
The Best-Performing Dividend Stocks in the Eurozone of Q2
- Mediobanca MB
- Banco di Desio e della Brianza BDB
- Raiffeisen Bank International RBI
- Banca Monte dei Paschi di Siena BMPS
- Melexis MELE
- Heijmans HEIJM
- Poste Italiane PST
- Royal BAM Group BAMNB
- ElvalHalcor ELHA
- Tavaratalot PUUILO
How Have Dividend Stocks Performed?
The Morningstar Eurozone Dividend Yield Focus Index, which tracks the performance of high-quality, dividend-paying stocks listed in Europe, rose 7.24% over the past quarter and 18.29% over the past year.
The overall eurozone stock market, as measured by the Morningstar Eurozone Index, has gained 15.09% on the quarter and 22.58% on the year.
Yields and Metrics for Q2’s Best-Performing Dividend Stocks
Mediobanca
Italian regional bank Mediobanca rose 61.19% in the second quarter and gained 38.33% over the past 12 months. Trading at €26.10, its stock has a forward dividend yield of 4.83%. Mediobanca pays investors a trailing 12-month dividend of €1.26 per share. The stock has a quantitative Morningstar Rating of 3 stars.
Banco di Desio e della Brianza
Italian regional bank Banco di Desio e della Brianza gained 60.35% in the second quarter and climbed 94.78% over the past 12 months. The stock’s €13.56 price gives it a forward dividend yield of 3.76%. Banco di Desio e della Brianza pays investors a trailing 12-month dividend of €0.51 per share. The stock has a quantitative Morningstar Rating of 3 stars.
Raiffeisen Bank International
Austrian regional bank Raiffeisen Bank International climbed 58.00% in the second quarter and rose 121.99% over the past 12 months. At €55.85, its stock has a forward dividend yield of 2.93% and a trailing 12-month dividend of €1.60 per share. It has a quantitative Morningstar Rating of 2 stars.
Banca Monte dei Paschi di Siena
Italian regional bank Banca Monte dei Paschi di Siena rose 57.86% in the second quarter and gained 62.34% over the past 12 months. Trading at €10.87, its stock has a forward dividend yield of 7.91%. Banca Monte dei Paschi di Siena pays investors a trailing 12-month dividend of €0.86 per share. The stock has a quantitative Morningstar Rating of 3 stars.
Melexis
Belgian semiconductor company Melexis climbed 53.19% in the second quarter and rose 13.37% over the past 12 months. At €78.35, its stock has a forward dividend yield of 6.13% and a trailing 12-month dividend of €4.80 per share. The stock, which has a narrow economic moat, is trading at a 15% discount to its fair value estimate of €92 per share. It has a Morningstar Rating of 3 stars.
Heijmans
Dutch engineering and construction company Heijmans rose 51.92% in the second quarter and gained 111.77% over the past 12 months. Trading at €111.20, its stock has a forward dividend yield of 2.13%. Heijmans pays investors a trailing 12-month dividend of €2.37 per share. The stock has a quantitative Morningstar Rating of 2 stars.
Poste Italiane
Italian conglomerate Poste Italiane climbed 46.33% in the second quarter and rose 63.76% over the past 12 months. At €29.01, its stock has a forward dividend yield of 4.31% and a trailing 12-month dividend of €1.25 per share. It has a quantitative Morningstar Rating of 2 stars.
Royal BAM Group
Dutch engineering and construction company Royal BAM Group gained 45.91% in the second quarter and climbed 66.38% over the past 12 months. The stock’s €12.18 price gives it a forward dividend yield of 2.46%. Royal BAM Group pays investors a trailing 12-month dividend of €0.30 per share. The stock has a quantitative Morningstar Rating of 2 stars.
ElvalHalcor
Greek metal fabrication firm ElvalHalcor climbed 45.80% in the second quarter and rose 105.64% over the past 12 months. At €4.95, its stock has a forward dividend yield of 2.23% and a trailing 12-month dividend of €0.11 per share. It has a quantitative Morningstar Rating of 4 stars.
Tavaratalot
Finnish department store Tavaratalot gained 45.27% in the second quarter and climbed 42.84% over the past 12 months. The stock’s €17.96 price gives it a forward dividend yield of 3.71%. Tavaratalot pays investors a trailing 12-month dividend of €0.66 per share. The stock has a quantitative Morningstar Rating of 3 stars.
What is the Morningstar Eurozone Index?
The Morningstar Eurozone Index measures the performance of the eurozone’s broad regional markets, targeting the top 97% of stocks by market capitalization. The index does not incorporate environmental, social, or governance criteria.
What is the Morningstar Eurozone Dividend Yield Focus Index?
The Morningstar Eurozone Dividend Yield Focus Index captures the performance of a portfolio of high-quality, dividend-paying securities.
It’s a subset of the Morningstar Eurozone Index (which represents 97% of the equity market capitalization) that includes only stocks that pay dividends. The stocks are screened for economic moat and financial strength compared to others in their sector. Real estate investment trusts are excluded.
From there, the 25 highest-yielding stocks are included in the index, weighted by the dollar value of the dividends. See the full rulebook here.
The Best Dividend Stock Leaders: More Ideas to Consider
Investors who would like to find more top-performing or cheap dividend stocks can do the following:
- Use our Morningstar Stock Screener tool to find the best dividend stocks according to your specific criteria. You can search for stocks based on their dividend yields, valuation measures like price/earnings ratios, and more.
- Review the full list of dividend stocks included in the Morningstar Eurozone Dividend Yield Focus Index index. Those dividend stocks with Morningstar Ratings of 4 or 5 stars are undervalued, according to our metrics.
- When it comes to buying stocks, it’s more than just dividends. Read here how valuations and competitive advantages—known as economic moats—matter when it comes to a stock’s potential for outperformance.
- Read Morningstar’s Guide to Stock Investing to learn how our approach to investing can inform your stock-picking process.
Companies that are not formally covered by a Morningstar analyst are statistically matched to analyst-rated companies, allowing our models to calculate a quantitative star rating.
