Indra Sistemas S.A.

Indra, based near Madrid, is a Spanish technology and consulting company with two main sides: defence and air-traffic systems, where it is a leading European supplier of radar, electronics and control systems, and Minsait, its digital-services and IT-consulting arm. Rising European defence spending has brightened the outlook for its systems business. Indra pays a dividend that it has been rebuilding as profits recovered, funded by growing cash flow, which earns it a solid DiviScore. A moderate yield backed by a defence and technology group defines its appeal, with income secondary to its growth as a defence supplier.