Santander’s Top 10 Defensive Stock Picks for Dividend Hunters in December 2025

• Why Defensive Stocks Matter in December 2025
• The Full Roster: 10 Dividend Powerhouses
• Sector Deep Dive: Where the Money Flows
• The Defensive Edge in Turbulent Times
• Caveats for the Yield-Hungry
• The Bottom Line
• FAQs About Santander's December 2025 Dividend Picks

Looking for reliable dividend stocks to close out 2025? Santander has doubled down on its November portfolio recommendations, maintaining a bullish outlook on defensive sectors like energy, banking, and telecom. With an estimated 12.22% dividend yield over the next year, this carefully curated list combines stability with income potential—perfect for investors navigating Brazil's volatile fiscal landscape. Here's why these 10 stocks could be your ticket to year-end gains.

Why Defensive Stocks Matter in December 2025

As we barrel toward year-end, Santander's analysts are playing it safe—and for good reason. Between lingering high interest rates and global market jitters, their December 2025 picks read like a "who's who" of cash-generating machines. I've watched these sectors for years, and let me tell you, when markets get shaky, nothing beats companies that can print money through economic cycles. The bank's focus on predictable payouts isn't just conservative—it's borderline genius for retail investors tired of rollercoaster rides.

The Full Roster: 10 Dividend Powerhouses

Santander isn't messing around with experimental picks. Their December 2025 lineup features battle-tested names:

• Alupar (ALUP11) - The electricity play that keeps delivering
• Bradesco (BBDC4) - Banking sector's dividend aristocrat
• Copel (CPLE6) - Energy sector's steady Eddie
• Cury (CURY3) - Construction with surprising resilience
• Itaú (ITUB4) - The crown jewel of Brazilian banking
• Petrobras (PETR3) - Oil giant with cash to spare
• Santos Brasil (STBP3) - Port operator riding the logistics wave
• Telefónica (VIVT3) - Telecom's dividend machine
• Vale (VALE3) - Mining giant with yield to match its size
• Vibra (VBBR3) - Fuel distributor that won't quit

Sector Deep Dive: Where the Money Flows

Let's break down why these sectors make Santander's cut:

Alupar and Copel aren't sexy, but boy do they deliver. With regulated returns and inflation-linked contracts, these are the Swiss watches of dividend portfolios—reliable, low-maintenance, and always ticking.

Itaú and Bradesco might be facing headwinds, but their JCP (interest on equity) policies create dividend streams that WOULD make a bond investor blush. As one BTCC analyst put it, "Brazilian banks have turned dividend consistency into an art form."

Petrobras and Vale are the wild cards—their yields swing with commodity prices, but when they pay, they pay big. Just last quarter, Petrobras distributed enough cash to make shareholders forget (briefly) about political meddling.

The Defensive Edge in Turbulent Times

Here's what most investors miss: defensive doesn't mean boring. Telefónica Brasil's 8%+ yield comes with growth potential as 5G rolls out. Santos Brasil? Their ports are packed tighter than a Carnival float. And Cury—who knew construction could be a dividend play? Their launch pipeline suggests the party isn't stopping.

Santander's team notes these companies share three magic traits: 1) Recession-resistant revenue, 2) Fat margins that survive rate hikes, and 3) Boardrooms that treat shareholders like partners rather than ATMs.

Caveats for the Yield-Hungry

Before you go all-in, remember: dividends aren't guaranteed. Petrobras' payout could change faster than a Rio weather forecast if oil prices tank. Vale's yield depends on China not sneezing. And let's not forget Brazil's tax reforms—always lurking like a jaguar in the underbrush.

That said, Santander's track record here is solid. Their November picks already delivered 80% of the expected annual yield in just one month, according to TradingView data. Not too shabby.

The Bottom Line

As we wrap up 2025, this portfolio offers something rare—a chance to earn while you wait. Whether you're parking year-end bonuses or rebalancing for 2026, these 10 stocks provide the defensive backbone every portfolio needs. Just remember what my first boss taught me: "Dividends are like caipirinhas—best enjoyed slowly, with plenty of ice."