Brexit Puts 4 Top European Dividend Stocks Yielding 4% to 7% On Sale

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Nobody called the Brexit, and that is exactly what always happens when everybody sees just one potential outcome. The bottom line is the citizens of Great Britain are not xenophobic or racist, but they are just tired of many of the important calls for their country being made in Brussels and not London. The huge $3 trillion sell-off and subsequent massive rally rebound shows you that investors, while wary, know that stocks are still the best alternative.

One thing the Brexit vote did was to inject even more volatility into what was already a volatile market. It also knocked down four top European dividend stocks that many of the firms we cover on Wall Street are very positive on. They are solid contrarian picks for growth and income accounts.

ING Groep

This top financial stock makes good sense for investors looking for value. ING Groep N.V. (NYSE: ING) operates through Retail Netherlands, Retail Belgium, Retail Germany, Retail Other and Wholesale Banking segments. The company accepts various deposits, such as current and savings accounts; and offers business lending, consumer lending and lease products.

ING also provides mortgages; corporate, structured and real estate financing services; financial markets products; and cash management, transaction and trade finance services, as well as working capital solutions. It operates in the Netherlands, Belgium, elsewhere in Europe, North America, Latin America, Asia and Australia.

ING investors are paid an outstanding 6.96% dividend. The Thomson/First Call consensus price target for the stock is $13.61. The shares closed Friday at $10.17.

Philip Morris International

This company has continued to grow global market share and makes good sense for total return investors now. Philip Morris International Inc. (NYSE: PM) is the world’s leading international tobacco company, with six of the world’s top 15 international brands and products sold in more than 180 markets.

In addition to the manufacture and sale of cigarettes, including Marlboro, the number one global cigarette brand, and other tobacco products, the company is also engaged in the development and commercialization of reduced-risk products (RRPs), the term it uses to refer to products with the potential to reduce individual risk and population harm in comparison to smoking cigarettes. Through multidisciplinary capabilities in product development, state-of-the-art facilities and industry-leading scientific substantiation, Philip Morris aims to provide an RRP portfolio that meets a broad spectrum of adult smoker preferences.

Philip Morris shareholders receive a 4.03% dividend. The consensus price target is set at $103.60. Shares closed Friday at $101.28.