Sacyr S.A.

Sacyr, based in Madrid, is a construction and infrastructure group that has shifted its focus towards long-term concessions such as toll roads, hospitals and water plants, which it builds and then operates for decades. That growing base of concessions provides steadier, more predictable cash flow than pure construction work. Sacyr pays a dividend, often offered as cash or new shares, backed by its growing concession income, which earns it a solid DiviScore. A dependable yield underpinned by long-life infrastructure assets defines its appeal, as it gradually becomes more of a concession operator than a builder.