Inchcape

Inchcape(LSE: INCH) sells new and used vehicle parts and financial services for the automotive industry in 36 markets around the world. This is a somewhat niche business, but that is no bad thing. Sales and profits have increased gradually over the past couple of years as the company has expanded its footprint in the automotive industry around the world. It suffered a small setback during the pandemic, but management expects growth to return over the next two years. At the time of writing, the stock supports a dividend yield of 3.3%, and the distribution is covered 2.5 times by earnings per share. The company also has a cash-rich balance sheet.