The efforts to transition to electric-vehicles are gaining momentum, with states such as California setting new legislation that prohibits the sale of new combustion vehicles by 2035.
Additionally, the Science and Chips Act of 2022 will allocate billions of dollars in tax credits for semiconductors companies to build new fabrication facilities.
Here are two high-yield materials stocks that are set to benefit from these developments in the electric-vehicle and semiconductor industries.
Southern Copper Corporation SCCO is offering a dividend yield of 7.80% or $4.00 per share annually, using quarterly payments, with an inconsistent track record of increasing dividend payments. Southern Copper Corp is an integrated producer of copper and other minerals such as molybdenum, silver, zinc, lead, and gold as the company operates mining, smelting, and refining facilities in Peru and Mexico.
In the second quarter, Southern Copper saw copper production decrease by 12%, silver production drop by 4%, molybdenum production fall by 9%, while zinc production decreased by 12% compared to the previous year’s quarter.
Dow Inc DOW is offering a dividend yield of 5.10% or $2.80 per share annually, utilizing quarterly payments, with no increase in dividends over the past year. Dow is a diversified chemical manufacturing company, with a portfolio comprising six global business units, organized into three operating segments: Packaging and Specialty Plastics, Industrial Intermediates and Infrastructure, as well as Performance Materials and Coatings.
In 2021, Dow had net sales of $55 billion, with 104 manufacturing sites in 31 countries, employing roughly 35,700 workers.
Image and article originally from www.benzinga.com. Read the original article here.