Euronext N.V.

Euronext, headquartered in Amsterdam, runs the largest stock-exchange group in continental Europe, operating markets in Paris, Amsterdam, Milan, Brussels and other cities, plus clearing, settlement and data services. Much of its revenue is recurring, and volatile markets tend to lift trading volumes, giving it a resilient, cash-generative model. Euronext has grown its dividend steadily since listing, funded by expanding, capital-light profits, and is increasingly returning cash to shareholders. Dependable growth from an exchange operator with structural tailwinds gives it one of the stronger dividend profiles in the index.