Two Dividend Plays That Capitalize On The Rise Of EV Battery Makers By Benzinga

The batteries in electric-vehicles are typically lithium-ion batteries that contain materials such as cobalt, , nickel and obviously lithium amongst other materials.

As the demand for electric-vehicles increases, so will the demand for materials such as lithium, which is mined from the Earth.

The locations with the highest lithium deposits in the world include South America, the United States and Australia. Here are two high yielding lithium mining companies for the future electric-vehicle takeover.

Sociedad Quimica Y Minera de Chile S.A. (NYSE: SQM) is offering a dividend yield of 11.42% or $11.15 per share annually, making annual payments, with an inconsistent track record of increasing its dividends. Sociedad Quimica is a Chilean commodities producer with significant operations in lithium, specialty and standard potassium fertilizers, iodine (primarily used in X-ray contrast media), and solar salts.

Sociedad Quimica saw first quarter earnings beat the consensus estimates by 118%, with plans to continue earnings growth through the second half of the year.

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Albemarle Corporation (NYSE: ALB) is offering a dividend yield of 0.61% or $1.58 per share annually, through quarterly payments, with a stellar track record of increasing its dividends for 29 consecutive years. Albemarle produces lithium from its salt brine deposits in Chile and the U.S., and its hard rock joint venture mines in Australia.

Kent Masters, CEO of Albemarle said, “We delivered another strong quarter throughout the current turbulent market environment, thanks to strong demand and pricing trends, particularly for Lithium and Bromine”.

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