The FTSE 100 is down just 1.81% year-to-date compared to the S&P 500, which is down about 16.5% year-to-date. Although the war between Russia and Ukraine is causing a difficult economic environment for European multinationals, the broader market is still holding up better than the US.

Multinational companies with a strong US presence can benefit from a strong dollar. Earnings gains in dollars result in gains on their balance sheets.

With the US itself facing headwinds, it may be wise to invest in international markets around the world to diversify your portfolio. Here are two European companies with dividend stocks.

See also: These 3 European companies could see their dividend-paying stocks benefit from a strong dollar

NXP Semiconductors NV NXPI offers a dividend yield of 1.97%, or $3.38 per share annually using quarterly payments, with a decent track record of increasing its dividends for three consecutive years. NXP Semiconductors is a leading supplier of high performance mixed signal products in over 30 countries and now has a significant market share in the automotive market following its acquisition by Freescale Semiconductor in 2015.

During the third quarter, NXP Semiconductor repurchased 2.5 million shares at a total cost of $400 million and paid $223 million in cash dividends. Between October 3, 2022 and October 28, 2022, NXP repurchased an additional 1.77 million shares for a total cost of $260 million through a 10b5-1 program.

SAPSE JUICE offers a dividend yield of 1.91%, or $2.08 per share when paid annually, with an inconsistent track record of growing its dividends. Founded in 1972 by former IBM employees, SAP provides database technology and enterprise resource planning software to businesses in more than 180 countries and serves over 440,000 customers, approximately 80% of which are small and medium-sized businesses.

SAP’s share buyback program announced on July 21 was completed on September 6 and…