Wienerberger AG

Wienerberger, based in Vienna, is the world's largest maker of clay bricks and roof tiles and a big producer of pipes and other building materials, supplying construction and renovation projects across Europe and North America. Demand tracks the building cycle, so its results rise and fall with construction activity and interest rates. Wienerberger has paid a dividend for years and generally increased it in stronger periods, funded by cash flow that swings with the market. A moderate yield from a building-materials leader defines its profile, dependent on a recovery in construction.