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A stock's dividend yield is a good initial indicator of the kind of value you are getting when purchasing the stock. A higher dividend yield means a better value, generally.

As December approaches, the month believed to be the best time to buy and sell long term positions according to O'Shaughnessy's cornerstone strategy, rebalancing my long term portfolio, is becoming a priority. In my search for long term opportunities, and with the sting of this year's market turbulence not yet forgotten, I have been seeking out value stocks with strong dividend yields, stocks that offer some income, regardless of price performance.

Below is a list of ten stocks with very appealing dividend yields, trading at good value:

1. CorpBanca S.A. (NYSE:BCA), with a dividend yield of 6.80%, is trading 6.73% above its 20-day simple moving average (SMA), 0.19% above its 50-day SMA, and 7.74% below its 200-day SMA. Historically the stock's ex-dividend date, the date in which investors must own the stock to receive the dividend payout, appears once per year, late in the first quarter. The next ex-dividend date, therefore, will likely be in February or March of next year.

(Dividend payouts generally occur two weeks to two months after a stock's ex-dividend date.)

click on charts to enlarge

2. Invesco Mortgage Capital Inc. (NYSE:IVR), with a dividend yield of 24.05%, is trading 9.07% above its 20-day SMA, 1.23% above its 50-day SMA, and 17.29% below its 200-day SMA. Historically the stock's ex-dividend date appears once per quarter, generally late in the quarter. The next ex-dividend date, therefore, will likely be in mid to late December of this year.

3. Escalade Inc. (NASDAQ:ESCA), with a dividend yield of 19.05%, is trading 4.01% above its 20-day SMA, 4.01% above its 50-day SMA, and 2.79% below its 200-day SMA. Historically the stock's ex-dividend date appears once per year, generally in the fourth quarter. The next ex-dividend date, therefore, will likely be in mid to late November of this year.

4. Alaska Communications Systems Group Inc. (NASDAQ:ALSK), with a dividend yield of 13.61%, is trading 0.57% below its 20-day SMA, 6.46% below its 50-day SMA, and 23.12% below its 200-day SMA. Historically the stock's ex-dividend date appears once per quarter, generally near the last day of the quarter. The next ex-dividend date, therefore, will likely be in the last week of December, this year.

5. Highway Holdings Ltd. (NASDAQ:HIHO), with a dividend yield of 13.56%, is trading 11.17% above its 20-day SMA, 3.91% above its 50-day SMA, and 3.61% below its 200-day SMA. Historically the stock's ex-dividend date appears three times per year, generally in March, August, and November. The next ex-dividend date, therefore, will likely be in November of this year.

6. Portugal Telecom SGPS SA (NYSE:PT), with a dividend yield of 12.97%, is trading 0.67% below its 20-day SMA, 6.99% below its 50-day SMA, and 22.43% below its 200-day SMA. Historically the stock's ex-dividend date appears twice per year, generally toward the end of the second and fourth quarters. The next ex-dividend date, therefore, will likely be in late December of this year.

7. Frontier Communications Corporation (NASDAQ:FTR), with a dividend yield of 12.44%, is trading 0.94% above its 20-day SMA, 7.66% below its 50-day SMA, and 20.15% below its 200-day SMA. Historically the stock's ex-dividend date appears each quarter, generally toward the end of the quarter. The next ex-dividend date, therefore, will likely be in early to mid December of this year.

8. Veolia Environnement S.A. (NYSE:VE), with a dividend yield of 11.73%, is trading 0.69% below its 20-day SMA, 1.92% below its 50-day SMA, and 40.51% below its 200-day SMA. Historically the stock's ex-dividend date appears once per year, generally in March. The next ex-dividend date, therefore, will likely be in mid March of next year.

9. Delaware Enhanced Global Divide (NYSE:DEX), with a dividend yield of 11.07%, is trading 2.58% above its 20-day SMA, 1.25% below its 50-day SMA, and 8.33% below its 200-day SMA. Historically the stock's ex-dividend date appears once per month, generally toward the middle of the month. The next ex-dividend date, therefore, will likely be around November 15th of this year.

10. NorthStar Realty Finance Corp. (NYSE:NRF), with a dividend yield of 10.96%, is trading 9.10% above its 20-day SMA, 5.02% above its 50-day SMA, and 13.15% below its 200-day SMA. Historically the stock's ex-dividend date appears four times per year, generally toward the middle of each quarter. The next ex-dividend date, therefore, will likely be in November of this year.

Source: 10 Dividend Value Stocks With Over 15% Average Yield