According to the latest Forbes Magazine billionaire issue, the richest man in the world is Carlos Slim Helu, who made much of his money from the Latin American telecommunications company, America Movil (NYSE:AMX). The company announced this week that it is proposing a two for one stock split and a stock buyback in excess of $4 billion. The stock trades at fourteen times current earnings and twelve times forward earnings. However, it only pays a nominal yield of 0.4%.
Fortunately, there are plenty of other telecom stocks with high yields, as much as 8%. WallStreetNewsNetwork.com has updated its free list of over ten telecom stocks yielding 3% or more. For example, Alaska Communications Systems Group, Inc. (NASDAQ:ALSK) is a provider of both wireless and landlines in the forty-ninth state. The company has a market cap of $438 million, trades at 25 times forward earnings, and pays a generous yield of 8.5%.
Qwest Communications International Inc. (NYSE:Q), which is lucky to have a single letter stock ticker symbol, is a $12 billion market cap company, a forward PE of 16, and a yield of 4.8%.
The high paying telecom stock CenturyLink, Inc. (NYSE:CTL) has a 7.2% dividend payout. The market cap is $12.5 billion, with a forward price to earnings ratio of 13.5. The company has increased its dividend in nine out of the last ten years.
To see the rest of the high paying telecommunications companies, which includes half a dozen with yields above 6%, check out the free list of high yield telecom stocks, at wsnn.com.
Disclosure: Author did not own any of the above at the time the article was written.