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It doesn't matter whether we are in a recession, a depression, or in a booming economy. People will always go to the movies, rent DVDs, or order a movie from Netflix (NASDAQ:NFLX). The demand will always be there, the revenues will always continue.

With all this money rolling in, the revenues must be going somewhere. WallStreetNewsNetwork.com has just developed a free spreadsheet database of all the high yielding entertainment stocks and notes that pay dividends over 3%. Dividend stocks are a great way of reducing risk in your portfolio, especially if you are going into the show business sector.

Time Warner (NYSE:TWX), which owns Warner Brothers, has a forward price-to-earnings ratio of 12.5 and a yield of 2.9%.

Regal Entertainment Group (NYSE:RGC) operates a chain of theaters throughout the United States in mid-sized metropolitan markets and the suburbs. The company has a forward PE ratio of 14, and pays a very nice dividend of 5.2%.

Another motion picture chain that has theaters in North and South America is Cinemark Holdings Inc. (NYSE:CNK), with a forward PE of 10.5, and an extremely generous yield of 4.9%.

There are actually 18 entertainment stocks and notes with yields above 2%, four of which yield more than 7%, all of which can be found at wsnn.com. Some of the stocks on the list are senior notes, which trade like preferred stocks.

Disclosure: Author owns TWX.
Source: Highest Yielding Entertainment Stocks