Accordng to Forbes Magazine, the chairman and CEO of Telefonos de Mexico (TMX) and América Móvil (AMX), Carlos Slim Helu, is the richest man in the world, at least as of March of last year. He has an approximate net worth of 74.5 billion dollars now, more than $15 billion more than last year. Slim was born in Mexico City in 1940 to the son of a dry goods store owner.
Mexico has one of the fastest growing economies in the world, with a growing middle class. The per-capital income has been rising, and inflation has been dropping over the last several years. Mexico is the 9th largest holder of US debt, and is one of the twelve largest economies in the world.
Investors looking for investments in the birth country of Carlos Slim can find several Mexico stocks that pay dividends, all but one of which trades on the New York Stock Exchange, according to WallStreetNewsNetwork.com. One of Carlos Slim's stocks, Telefonos de Mexico (TMX), also known as Telmex, pays a high dividend of 4.4%. The company, which owns 90 percent of the telephone lines in Mexico city, trades at 12 times forward earnings.
Fomento Economico Mexicano (FMX) is a beverage distributor of Coca Cola (KO) brands in Mexico along with several other Latin American countries including Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, and Argentina. The stock sports a yield of 1.2% and sells for 19 times forward earnings.
Another high yield Mexican stock is Grupo Aeroportuario Centro Norte (OMAB), which participates in the growth of the travel industry by operating airports in the central and northern regions of Mexico. The stock, which trades on NASDAQ, has a 3.8% yield, and a forward price to earnings ratio of 22.
Disclosure: Author did not own any of the above at the time the article was written.