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Currently the S&P 500 has a dividend yield of about 2%. Investors looking for higher yields can invest in overseas companies which offer much higher yields. Generally utilities and financials tend to have higher payouts. Though most foreign firms pay dividends once or twice a year, the paid out dividends will be significantly higher. Due to tax implications it is advisable to hold high dividend-paying foreign stocks in a taxable account.

To get started, the table below lists 20 exchange-listed foreign stocks paying over 5% dividends:

S.No. Name Ticker Dividend Yield as of April 8, 2011 Country Sector
1 Alon Holdings Blue Square Israel Ltd BSI 34.47% Israel Retail Grocery
2 Enersis S.A. ENI 13.09% Chile Electric Utility
3 Partner Communications Company Ltd PTNR 11.46% Israel Telecom
4 Himax Technologies, Inc. HIMX 10.55% Taiwan Semiconductors
5 Banco Santander S.A. STD 10.43% Spain Banking
6 AstraZeneca plc AZN 7.67% UK Drugs
7 Formula Systems Ltd. FORTY 7.54% Israel Software
8 Corpbanca BCA 7.44% Chile Banking
9 Telecom Corp of New Zealand NZT 6.99% New Zealand Telecom
10 Telefonica S.A. TEF 6.83% Spain Telecom
11 France Telecom SA FTE 6.71% France Telecom
12 Philippine Long Distance Telephone PHI 6.58% Philippines Telecom
13 CPFL Energia S.A. CPL 6.57% Brazil Electric Utility
14 Alto Palermo S.A. APSA 6.52% Argentina Real Estate Operations
15 British American Tobacco BTI 6.31% UK Tobacco
16 GlaxoSmithKline plc GSK 6.17% UK Drugs
17 Nokia Corporation NOK 6.05% Finland Telecom Hardware
18 Portugal Telecom PT 5.89% Portugal Telecom
19 Fly Leasing Ltd FLY 5.84% Ireland Rental & Leasing
20 Westpac Banking Corporation WBK 5.72% Australia Banking

Note: The above list excludes companies from China and Canada.

Disclosure: Long BCA

Source: 20 Foreign Dividend Stocks Paying Out More Than 5% Yields