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All of these companies are based outside of the U.S. and pay very generous dividends. Many foreign companies pay higher dividends than their American counterparts, so it makes sense to look globally for yield. In this low-rate environment, these stocks offer great alternatives to other low-yielding investments.
Furthermore, the dividends appear to be safe with these companies as their earnings power per share indicates they are not at risk of a meaningful dividend cut. With the dividends looking solid, and earnings continuing to grow at most of these companies, it's possible these stocks could see significant share price appreciation as well. Many of them have rallied recently, so I would be patient and wait for pullbacks in most of these names.
Here are the foreign dividend stocks to consider:
Nokia Corp (NYSE:NOK) shares are trading at $8.74. Nokia is a leading mobile phone company. The 50-day moving average is about $8.62 and the 200-day moving average is about $9.68. Earnings estimates for NOK are just over 70 cents per share in 2011, and 80 cents for 2012 so the PE ratio is about 12 on these shares.
While Apple (NASDAQ:AAPL) clearly has the smart phone market covered in the high end-market, I believe Nokia could be successful in many emerging market countries since many of those consumers don't have a need or desire to spend as much as the iPhone costs (for both phone and data services). Nokia's balance sheet is very strong, with many billions in cash. While you wait, the dividend is a solid incentive to hold the stock. Nokia pays a dividend of about 46 cents per share which is equivalent to a yield of 5.4%.

Philippine Long Distance Telephone Co. (NYSE:PHI) is trading at $58.02. PHI is a leading telecommunications companies in the Philippines. These shares have traded in a range between $46.08 to $64.54 over the past 52 weeks. The 50-day moving average is $52.22 and the 200-day moving average is $52.79. PHI earnings estimates are about $4.98 per share in 2011. This puts the PE ratio at about 12.

The dividend is about $2.67 per year, which results in a yield of about 4.8%. This stock is trading well above support levels, so I would wait for pullbacks. PHI looks like a buy around $53 or less, which is close to the 200-day moving average.

Banco Macro (NYSE:BMA) is trading at $36.49. BMA is a major bank based in Argentina. These shares have a 52-week range of $24.58 and $56.99. The 50-day moving average is $32.09 and the 200-day moving average is $30.17, so the shares are trading well above support levels.

Estimates for BMA are at $4.49 per share in 2011 and $5.18 for 2012. Book value is stated at $16.90. The dividend is compelling at close to $2 per share which is equivalent to a ~6% yield. With a solid dividend and a low PE ratio (around 8), this stock would be an interesting buy on dips to $32 or below.

BCE Inc. (NYSE:BCE) is trading at $38.59. BCE is a leading telecommunications company in Canada. These shares have traded in a range between $28.10 to $38.61 over the past 52 weeks. The 50-day moving average is $36.58 and the 200-day moving average is $33.81. BCE earnings estimates are about $3.03 per share in 2011, and $3.16 for 2012. This puts the PE ratio at about 12.

The dividend is about $2 per share, which results in a yield of about 5.4%. This stock is trading well above support levels, so I would wait for pullbacks. BCE looks like a buy around $36 or less, which is close to the 50-day moving average.

Pengrowth Energy Corporation (NYSE:PGH), is trading around $13.21. Pengrowth is based in Canada and holds interests in oil and gas properties. These shares have traded in a range between $8.60 to $14.60 in the last 52 weeks. The 50-day moving average is $13.50 and the 200-day moving average is $12.14. The book value is stated at $10.11.

Financial results are expected to improve as oil and gas prices continue to rise in the coming years. Higher earnings should result in dividend increases in the future. PGH pays a solid dividend of 88 cents per share which is equivalent to a 6.7% yield. I would buy on dips below $13.

Telecom Corporation of New Zealand (NZT) is trading at $8.88. NZT is a leading telecommunications company in New Zealand. These shares have traded in a range between $5.90 to $8.94 over the past 52 weeks. The 50-day moving average is $7.93 and the 200-day moving average is $7.78. NZT earnings estimates are about 71 cents per share in 2011, and 86 cents for 2012. This puts the PE ratio at about 12.

The dividend is about 46 cents per share, which results in a yield of about 5.4%. This stock is trading well above support levels, so I would wait for pullbacks. NZT looks like a buy around $8 or less, which is close to the 50- and 200-day moving averages.

Enerplus Corporation (NYSE:ERF), is trading around $31.37. Enerplus is based in Canada and develops oil and gas properties. These shares have traded in a range between $20.08 to $33.29 in the last 52 weeks. The 50-day moving average is $31.18 and the 200-day moving average is $28.32. The book value is stated at $22.61.

Financial results should improve as oil and gas prices continue to rise in the coming years. Higher earnings should result in dividend increases in the future. ERF pays a solid dividend of $2.25 per share, which is equivalent to a 7.3% yield. These shares look interesting on dips below $31.

Source: 7 Top-Yielding Foreign Dividend Stocks