Freenet

Freenet, based in Büdelsdorf, is Germany's largest network-independent telecom provider, reselling mobile plans and increasingly bundling television and streaming through its waipu.tv service. Without its own network to fund, it runs a capital-light model that throws off strong, predictable cash. That cash supports one of the higher and more dependable dividend yields in the index, which management has kept reliable over the years. Freenet is a classic income holding for investors who prize a generous payout from a steady, cash-rich telecom business.