Vinci SA

Vinci, based near Paris, is one of the world's largest construction and concessions groups, building roads, bridges and buildings while operating motorways and airports that collect tolls and fees for decades. That mix of cyclical construction and steady, long-term concession income gives it an unusually resilient earnings base. Vinci has paid and grown its dividend reliably for years, funded by the dependable cash flow of its concessions. A solid, rising yield backed by long-life infrastructure assets underpins one of the stronger dividend profiles in the index.