Eurozone manufacturing and services activity are both improving in 2026, with composite growth at a nine month high. That kind of steady economic pulse often keeps dividend cash flows in focus for investors who want income they can plan around. Dividend powerhouses with yields above 5%, covered and growing, can offer a buffer against market swings. This article highlights three such stocks from the screener.

The three dividend powerhouses covered below are only a small sample, and the full screen surfaced 1,886 more companies with similarly compelling income stories that are not included here. If you want to identify and analyze high-yield ideas that fit your own risk and income targets, head straight into the Dividend Powerhouses (3%+ Yield) screener.

Accenture (ACN)

Overview: Accenture is a global consulting, technology and managed services company that helps large businesses and governments modernize their systems, move to the cloud and run day to day operations more efficiently. Its Technology & Operations and outsourcing work generates recurring revenue and free cash flow that underpin its role in a Dividend Powerhouses screen focused on well covered, growing and stable income.

Operations: Accenture generates most of its revenue from Products clients at about US$22.3b, followed by Health & Public Service at about US$14.9b, Financial Services at about US$13.8b, Communications, Media & Technology at about US$12.4b and Resources at about US$9.8b.

Market Cap: US$112.1b

Income focused investors may find Accenture interesting because its 3.6% yield is backed by a large managed services engine that throws off strong free cash flow. Its AI, cybersecurity and cloud work also helps it remain relevant to big clients. The P/E of 14.2x is below the wider US market and IT sector, and the business has a track record of reliable dividends. The trade off is that earnings slipped last year, revenue growth trails the broader market and a relatively new leadership team is steering a complex AI transition. For anyone drawn to steady dividends supported by recurring contracts, that mix of strength and execution risk may merit a closer look.

Accenture’s steady 3.6% yield and lower P/E hint that the market may be missing part of the story. Walk through the DCF valuation analysis for Accenture to see what the cash flows suggest about that AI transition risk.

Build your own dividend and cash flow shortlist

Accenture and the two other stocks in this list came from a single screen, but the real value is in setting filters that match what matters to you. Use our flexible Screener to combine yield, valuation, balance sheet and risk filters, or start from any of our curated Investing Ideas.

Novo Nordisk (CPSE:NOVO B)

Overview: Novo Nordisk is a global pharmaceutical company focused on diabetes and obesity care, with drugs such as Ozempic and Wegovy generating substantial cash flow that supports its dividend profile, alongside a smaller Rare Disease segment in areas like rare blood and endocrine disorders. Its GLP‑1 therapies, smart insulin pens and weight management products are the closest fit with a Dividend Powerhouses theme because they combine high revenue with the kind of recurring treatment demand that can underpin a stable and growing payout.

Operations: Novo Nordisk generates most of its revenue from Diabetes and Obesity Care at about DKK 308.9b, with around DKK 20.4b coming from Rare Disease.

Market Cap: DKK 1,309.8b

Novo Nordisk attracts dividend minded investors because its GLP‑1 franchise in Ozempic and Wegovy has supported strong profitability, with 20.8% annual earnings growth over the past 5 years and a 52.6% return on equity. Yet the stock trades at a P/E of about 11.2x compared with a peer average of 23.6x and is flagged as trading well below one estimate of fair value. The 3.95% yield, share buybacks and an interim 2026 dividend signal commitment to shareholder returns, but weak free cash flow coverage and high non cash earnings raise questions about how resilient that payout is. Combined with a younger board and mixed pipeline results beyond GLP‑1, this creates a picture of a high quality leader where the dividend story is appealing, but not risk free.

Novo Nordisk’s GLP 1 engine, rich margins and a P/E near half the peer average raise a big question: Is the market underpricing the full story or quietly flagging something in the 3 key rewards and 2 important warning signs (1 is major!)

Manulife Financial (TSX:MFC)

Overview: Manulife Financial is a large Canadian insurer and asset manager that earns steady fee and premium income from life insurance, annuities and wealth and asset management across North America and Asia. That mix of recurring insurance and asset management earnings is what funds Manulife’s regular common share dividends and aligns it closely with a Dividend Powerhouses theme focused on well covered, growing and stable payouts.

Operations: Manulife Financial generates most of its business revenue from Global Wealth and Asset Management at about CA$7.2b, followed by Asia at about CA$4.8b, Canada at about CA$3.2b, Corporate and Other at about CA$0.8b and the U.S. at about CA$0.5b.

Market Cap: CA$99.7b

Income investors looking for more than headline yield may want to study Manulife Financial closely. The company combines a 3.31% dividend with fee based asset management, growing insurance and annuity earnings, and a record of improving margins and earnings growth that has supported regular dividend increases and buybacks. Recent moves such as the long term care reinsurance deal with Munich Re and expansion in Asia and private credit aim to make cash flows more predictable while lifting capital efficiency. The catch is that growth is still heavily reliant on Asia, governance is in a period of change and funding leans on external borrowing rather than deposits. For investors who want a high quality insurer and asset manager funding a reliable dividend, those trade offs are worth weighing carefully.

Manulife’s mix of fee income, Asia growth and that 3.31% dividend could be masking an underappreciated earnings engine. Walk through the analyst forecasts for Manulife Financial to see what the next chapter might reveal.

Seeking Fresh Alternatives Before Others Do

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.