Hochtief AG

Hochtief, based in Essen and controlled by Spain's ACS, is one of the world's largest construction and infrastructure groups, building airports, tunnels, roads and, increasingly, data centres across the Americas, Australia and Europe. The boom in digital infrastructure has become a powerful new growth engine. Hochtief has rebuilt a reliable, rising dividend as earnings and cash flow have strengthened, paying consistently in recent years. A solid yield backed by a full order book and exposure to data-centre demand gives it one of the stronger dividend profiles in the index.