Nasdaq, Inc.

Nasdaq is far more than the exchange bearing its name. Alongside running one of the world's best-known equity markets, it earns a growing share of revenue from market technology, anti-financial-crime software, index licensing and data analytics sold to banks and other exchanges. That shift toward recurring software and data income has made its results steadier and less tied to trading volumes. The dividend has been raised for more than a decade and is backed by robust, increasingly recurring cash flows. Its low headline yield reflects a strong share price rather than a weak commitment to shareholders. With dependable growth and a diversified earnings base, the payout carries a firm, above-average profile.