These 3 Dividend Growth Stocks Are Set to Profit From an Electric Vehicle (EV) Future

Electric vehicles are the future. That’s where transportation is going. Most major auto manufacturers are now bending over backwards to ramp up EV production.

Investors can choose to ignore this. Or they can get on board and make some money. I don’t know about you, but I like that second idea a lot better.

Unfortunately, a lot of businesses in the EV space aren’t great investments for dividend growth investors. That’s because you’re often looking at sky-high valuations, poor fundamentals, and no dividends.

Paying a super high price for no sign of profit anywhere on the horizon? And no dividends? And not even very much certainty that the business will actually survive?

No bueno.

However, there are some high-quality dividend growth stocks out there that can and will cater to the oncoming EV wave. These are wonderful businesses that earn a ton of profit and pay out safe, growing dividends.

I want to tell you about three high-quality dividend growth stocks that fit this mold. These stocks will do well no matter what, but they could do especially well in the EV future. And each of these businesses cater to a different aspect of this EV future.

Ready to profit and collect safe, growing dividends from EVs?

Let’s dig in.

EV Boosted Stock #1: Albemarle Corporation (ALB)

The first stock I want to tell you about is Albemarle Corporation (ALB).

Albemarle is one of the world’s largest lithium producers.

All of those EVs? They require batteries. And all of those batteries? They require lithium. That’s where Albemarle steps in. And this isn’t some new kid on the block.

This is a Dividend Aristocrat, with 27 consecutive years of dividend increases.

They’ve built this amazing track record of growing its profit and dividend on the back of high-quality chemicals and catalysts operations that steadily chugged higher and higher over time. Adding lithium to the mix a few years back was transformative at just the right time. They’re perfectly positioned for the EV wave.

The stock yields a bit over 1%, so it’s not an income stock. This is one that’ll go to work for you and compound your wealth and passive income while you sleep.

While it might look expensive at first glance, the P/CF ratio of 19.2 isn’t that much higher than its own three-year average of 18.5. Yet they’re arguably in a more advantageous spot now than they’ve ever been. Put this stock on your shopping list if you want to be part of the future of transportation and energy.

EV Boosted Stock #2: Magna International (MGA)

The second stock I want to share with you is Magna International (MGA).

Magna is a major supplier of components to the auto industry.

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