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Emerging market stocks have been pummeled in the past few weeks. According to a new Bloomberg article,

MSCI’s emerging-market index has tumbled 11 percent this month, bound for its worst month since October 2008. It’s down 12 percent this year. Valuations on the gauge slipped to 9.3 times estimated profits for the coming 12 months, the lowest since March 2009, weekly data compiled by Bloomberg show.

After a major correction, some analysts see a buying opportunity and according to the Bloomberg article, "Morgan Stanley increased its equity allocation in its multi-asset emerging-market portfolio to 58 percent..." There is major growth opportunities in emerging markets but also serious risks as the recent correction has shown. Because of this, it makes sense to get some exposure through global companies that will benefit from this potential growth, but also insulate your portfolio from major risks due to diversification and dividends. Here are companies that offer all of those benefits:

Vodafone Group PLC (NASDAQ:VOD) provides mobile communications services including voice, data, Internet, etc., and is based in Europe. Even if times get tough, people are not going to give up their phones, so the sell off in this stock seems to be unwarranted, especially with a yield approaching 8%. Vodafone has operations in a few emerging market countries located in Africa, the Asia Pacific, and the Middle East.

Here are some key points for VOD:

Current share price: $27.08

The 52 week range is $22.95 to $29.75

Earnings estimates for 2011: $2.92 per share

Earnings estimates for 2012: $3.25 per share

Annual dividend: about $1.92 per share which yields 7.6%

Unilever PLC (NYSE:UL) is based in the United Kingdom, and makes some very popular food products with brand names such as Ben & Jerry's, Knorr, Hellmans, Wish-Bone, Amora, Ragu, Bertolli, Vaseline, Suave, Slim Fast, Dove, and many others. These products will see increasing demand in emerging market countries around the globe.

Here are some key points for UL:

Current share price: $33.36

The 52 week range is $25.90 to $33.40

Earnings estimates for 2011: $2.29 per share

Earnings estimates for 2012: $2.51 per share

Annual dividend: about $1.28 per share which yields 4.2%

Sanofi-Aventis (NYSE:SNY) is a French pharmaceutical giant and now trades for about 7 times earnings and offers a dividend yield of over 4%. Earlier this year, these shares traded regularly for $37 to $40, so there is upside while you collect the dividends. As emerging market consumers increase their earnings power, this will result in more demand for pharmaceutical products that enhance and extend the quality of life.

Here are some key points for SNY:

Current share price: $34.62

The 52 week range is $28.03 to $40.74

Earnings estimates for 2011: $4.84 per share

Earnings estimates for 2012: $4.67 per share

Annual dividend: about $1.32 per share which yields about 4.2%

Kimberly-Clark (NYSE:KMB) makes a variety of well known consumer products such as Kleenex, Cottonelle, Viva, Huggies diapers, etc. With oil prices falling, it could improve profit margins on the products manufactured by this company. The type of products made and sold by KMB are likely to see rising demand as emerging market consumers seek more comfort and convenience in their lives.

Here are some key points for KMB:

Current share price: $66.02

The 52 week range is $61 to $68.49

Earnings estimates for 2011: $2.12 per share

Earnings estimates for 2012: $2.67 per share

Annual dividend: $2.80 per share which yields 4.3%

Book value: $14.93 per share

Veolia Environnement (NYSE:VE) is based in France and is a leading provider of water, recycling, environmental services, waste collection and processing etc., with operations worldwide. Veolia stock has been hit very hard over the crisis in Europe, and now offers a very rich yield of about 10%. The services Veolia provides are basic necessities and increasingly in demand from emerging market countries.

Here are some key points for VE:

Current share price: $15.94

The 52 week range is $13.68 to $33.86

Earnings estimates for 2011: $1.86 per share

Earnings estimates for 2012: $1.96 per share

Annual dividend: $1.47 per share which yields about 10%

Data is sourced from Yahoo Finance. No guarantees or representations are made. Hawkinvest is not a registered investment advisor and does not provide specific investment advice. The information is for informational purposes only. You should always consult a financial advisor.

Source: 5 Ways to Play Emerging Markets With Safety