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The market correction over the last couple weeks has increased investor interest in dividend stocks. Most dividend stocks fared better in the latest correction when compared with stocks that pay little or no dividends. The Federal Reserve plans to keep interest rates at very low levels (near zero) for about two more years. With rates stuck near zero for the foreseeable future, smart investors are building a portfolio that will pay them much more than what most bonds, certificates of deposits, and other common investments will pay. Well known dividend stocks don't always offer the highest yields, so here are a number of high-yield stocks many investors may never have heard of:

PDL Biopharma, Inc. (NASDAQ:PDLI) owns and manages patents that are licensed by biotech and pharmaceutical companies. This company receives revenue from the licensing agreements and uses some of that money to pay a very generous dividend to shareholders. The earnings estimates easily covers the dividend payout so it is possible that the dividend could rise in the future. Here are some key points for PDLI:
Current share price: $5.70
The 52-week range is $4.66 to $6.75
Earnings estimates for 2011: $1.16 per share
Earnings estimates for 2012: $1.36 per share
Annual dividend: 60 cents per share, which yields 10.5%
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 not likely to be severely impacted by a downturn in Europe. Here are some key points for VE:
Current share price: $13.39
The 52-week range is $13.02 to $33.86
Earnings estimates for 2011: $1.42 per share
Earnings estimates for 2012: $1.48 per share
Annual dividend: $1.47 per share, which yields about 10.5%
Compass Diversified Holding (NYSE:CODI) invests in small to mid sized companies. Compass recently agreed to acquire Camelbak and already has invested in companies like Staff Mark, Liberty Safe, Ergo Baby Carrier and others. With a yield of nearly 12%, this stock looks like a solid buy for income investors.
Here are some key points for CODI:
Current share price: $12.48
The 52-week range is $11.21 to $18.58
Earnings estimates for 2011: $1.80 per share
Earnings estimates for 2012: $1.89 per share
Annual dividend: $1.44 per share, which yields 11.8%
France Telecom (FTE) is a major telecommunications company, based in France. This company offers a wide range of services such as Internet, mobile phones, and more. Many European stocks have seen sharp corrections due to concerns over sovereign debt and a recession. This looks like a solid opportunity for long-term investors but this stock might still head lower in the short term. Here are some key points for FTE:
Current share price: $15.75
The 52-week range is $15.39 to $24.60
Earnings estimates for 2011: $2.48 per share
Earnings estimates for 2012: $2.14 per share
Annual dividend: about $1.45 per share, which yields 8.8%

Ferrellgas Partners (NYSE:FGP) is a leading distributor of propane fuel nationwide. This stock has dropped almost 30% off the 52-week high and could be poised for a rebound. With the Winter season just around the corner, revenues should be increasing soon and the stock price could follow.

Here are some key points for FGP:
Current share price: $20.92
The 52-week range is $17.76 to $29
Earnings estimates for 2011: a loss of about 51 cents
Earnings estimates for 2012: 74 cents
Annual dividend: $2 per share, which yields 9.5%

Gladstone Investment Corporation (NASDAQ:GLAD) is a business development company that invests in companies through debt or equity. This stock recently hit a 52-week low, but has started to rebound. It looks like a smart buy on any dips due to the high yield and book value of $9.06 per share.
Here are some key points for GLAD:
Current share price: $6.73
The 52-week range is $6.22 to $8.55
Earnings estimates for 2011: 59 cents per share
Earnings estimates for 2012: 65 cents per share
Annual dividend: 60 cents per share, which yields 9.4% Data is sourced from Yahoo Finance. No guarantees or representations are made.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
Disclaimer: 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: 6 Little-Known Stocks With Very High Yields Of Up To 12%