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If you are looking for the perfect stocks, maybe your criteria for perfect includes stocks that pay high dividends. You probably also want stocks of companies that have no debt. WallStreetNewsNetwork.com came up with a list of 35 different debt free stocks with dividends over 4%. Most of these stocks have price earnings ratios below 18 and price earnings to growth ratios below 1.8. Here are a few worth taking a closer look at:

Pioneer Southwest (PSE) pays a yield of 14%, has a P/E ratio of 9.6, and a PEG ratio of 1.18. The company owns and operates oil and natural gas properties with 25 million barrels of oil equivalent of proven reserves.

AllianceBernstein (NYSE:AB) pays a yield of 11.3%, has a P/E ratio of 5.9, and a PEG ratio of 0.74. This investment management company provides mutual funds, institutional investment services, managed accounts, hedge funds, and other investment vehicles.

Corporate Executive Board (EXBD) has a yield of 7.8%, with a P/E ratio of 10.3, and PEG ratio of 0.93. The company provides management research and decision support tools to corporations.

Lorillard (NYSE:LO), the tobacco company that sells Newport, Kent and True cigarettes, is another debt free stock with a yield of 6.5%, a P/E ratio of 11.6, and PEG ratio of 1.36.

Disclosure: Author does not own any of the above.

Source: Four High-Yield, Debt-Free Stocks