Alzchem Group AG

Alzchem, based in Trostberg in Bavaria, is a speciality chemicals company built around nitrogen chemistry, making niche products for agriculture, food, pharmaceuticals and metallurgy, including creatine and specialty feed additives. Its focused, hard-to-replicate niches give it pricing power and healthy margins. Alzchem has paid and grown a dividend since listing, backed by solid cash flow, and rewards shareholders while investing in expansion. A moderate, growing yield from a profitable speciality-chemicals niche underpins one of the stronger dividend profiles in the index.