Aurubis AG

Aurubis, based in Hamburg, is Europe's largest copper producer and one of the world's biggest recyclers of the metal, turning ore and scrap into the wire and shapes that electrification depends on. Growing demand for copper in grids, renewables and electric cars gives it a long-term tailwind, though earnings still swing with metal prices and treatment charges. Aurubis has paid a dividend without interruption for more than two decades and lifts it in step with profits. The yield is moderate, and the appeal is a steady, cyclical industrial with a dependable payout and a stake in the copper story.