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Do you consider yourself a value investor interested in dividends? If so, don't limit yourself to the U.S. market, look abroad like we did. Recently, we found a key number of foreign dividend stocks that look potentially enticing because of their solid dividend yield, cheaper valuations, and strong revenue growth over the last year.

When looking for foreign dividend stock opportunities we first started to filter out names by looking exclusively at foreign large cap dividend stocks ($10B or higher) that offered at least a 3% dividend yield. From that point, we then further narrowed down the list by focusing on names that hold cheaper valuations according to generally accepted value investing principles (Forward P/E=<10). Finally, we targeted companies that had been able to grow their top line by a decent pace (1-Year Growth Rate>15%) despite the unfavorable global economic environment.

The stocks are listed below from highest to lowest by 1-Year Revenue Growth:

1. VimpelCom Ltd (NASDAQ:VIP)

Market Cap

$13,123 Million

Sector

Communication Services

Industry

Telecom Services

Stock Price

$7.95

Starting from a dividend income opportunity standpoint VimpelCom Ltd currently offers a respectable 4.59% dividend yield, which is better than the S&P 500's 2.2% dividend yield. When reviewing the company from a valuation standpoint it looks to be undervalued with a Forward P/E ratio of 6.58 compared to the S&P 500's Forward P/E ratio of 14.6. The most interesting aspect though, in my opinion, is that VimpelCom Ltd has been able to grow its revenue by 92.57% over the last year despite the global economic turmoil.

2. Telefonica Brasil S.A. (NYSE:VIV)

Market Cap

$26,815 Million

Sector

Communication Services

Industry

Telecom Services

Stock Price

$ 23.86

Starting from a dividend income opportunity standpoint Telefonica Brasil S.A. currently offers a respectable 3.02% dividend yield, which is better than the S&P 500's 2.2% dividend yield. When reviewing the company from a valuation standpoint it looks to be undervalued with a Forward P/E ratio of 4.94 compared to the S&P 500's Forward P/E ratio of 14.6. The most interesting aspect though, in my opinion, is that Telefonica Brasil S.A. has been able to grow its revenue by 84.38% over the last year despite the global economic turmoil.

3. Manulife Financial Corporation (NYSE:MFC)

Market Cap

$19,412 Million

Sector

Financial Services

Industry

Insurance - Life

Stock Price

$ 10.47

Starting from a dividend income opportunity standpoint Manulife Financial Corporation currently offers a respectable 4.84% dividend yield, which is better than the S&P 500's 2.2% dividend yield. When reviewing the company from a valuation standpoint it looks to be undervalued with a Forward P/E ratio of 7.60 compared to the S&P 500's Forward P/E ratio of 14.6. The most interesting aspect though, in my opinion, is that Manulife Financial Corporation has been able to grow its revenue by 35.53% over the last year despite the global economic turmoil.

4. China Petroleum & Chemical Corporation (NYSE:SNP)

Market Cap

$76,246 Million

Sector

Energy

Industry

Oil & Gas Integrated

Stock Price

$ 87.82

Starting from a dividend income opportunity standpoint China Petroleum & Chemical Corporation currently offers a respectable 4.82% dividend yield, which is better than the S&P 500's 2.2% dividend yield. When reviewing the company from a valuation standpoint it looks to be undervalued with a Forward P/E ratio of 9.66 compared to the S&P 500's Forward P/E ratio of 14.6. The most interesting aspect though, in my opinion, is that China Petroleum & Chemical Corporation has been able to grow its revenue by 30.97% over the last year despite the global economic turmoil.

5. Statoil ASA (NYSE:STO)

Market Cap

$74,551 Million

Sector

Energy

Industry

Oil & Gas Integrated

Stock Price

$ 23.38

Starting from a dividend income opportunity standpoint X currently offers a respectable 3.88% dividend yield, which is better than the S&P 500's 2.2% dividend yield. When reviewing the company from a valuation standpoint it looks to be undervalued with a Forward P/E ratio of 2.90 compared to the S&P 500's Forward P/E ratio of 14.6. The most interesting aspect though, in my opinion, is that X has been able to grow its revenue by 26.47% over the last year despite the global economic turmoil.

6. ArcelorMittal SA (NYSE:MT)

Market Cap

$23,554 Million

Sector

Basic Materials

Industry

Steel

Stock Price

$ 15.09

Starting from a dividend income opportunity standpoint ArcelorMittal SA currently offers a respectable 4.22% dividend yield, which is better than the S&P 500's 2.2% dividend yield. When reviewing the company from a valuation standpoint it looks to be undervalued with a Forward P/E ratio of 6.28 compared to the S&P 500's Forward P/E ratio of 14.6. The most interesting aspect though, in my opinion, is that ArcelorMittal SA has been able to grow its revenue by 20.44% over the last year despite the global economic turmoil.

7. ABB, Ltd. (NYSE:ABB)

Market Cap

$36,877 Million

Sector

Industrials

Industry

Diversified Industrials

Stock Price

$ 16.08

Starting from a dividend income opportunity standpoint ABB, Ltd. currently offers a respectable 4.34% dividend yield, which is better than the S&P 500's 2.2% dividend yield. When reviewing the company from a valuation standpoint it looks to be undervalued with a Forward P/E ratio of 9.22 compared to the S&P 500's Forward P/E ratio of 14.6. The most interesting aspect though, in my opinion, is that ABB, Ltd. has been able to grow its revenue by 20.26% over the last year despite the global economic turmoil.

8. Total SA (NYSE:TOT)

Market Cap

$99,626 Million

Sector

Energy

Industry

Oil & Gas Integrated

Stock Price

$ 43.65

Starting from a dividend income opportunity standpoint Total SA currently offers a respectable 5.70% dividend yield, which is better than the S&P 500's 2.2% dividend yield. When reviewing the company from a valuation standpoint it looks to be undervalued with a Forward P/E ratio of 5.60 compared to the S&P 500's Forward P/E ratio of 14.6. The most interesting aspect though, in my opinion, is that Total SA has been able to grow its revenue by 18.56% over the last year despite the global economic turmoil.

9. Sasol, Ltd. (NYSE:SSL)

Market Cap

$27,788 Million

Sector

Energy

Industry

Oil & Gas Integrated

Stock Price

$ 40.58

Starting from a dividend income opportunity standpoint Sasol, Ltd. currently offers a respectable 4.71% dividend yield, which is better than the S&P 500's 2.2% dividend yield. When reviewing the company from a valuation standpoint it looks to be undervalued with a Forward P/E ratio of 6.58 compared to the S&P 500's Forward P/E ratio of 6.48. The most interesting aspect though, in my opinion, is that Sasol, Ltd. has been able to grow its revenue by 16.51% over the last year despite the global economic turmoil.

X-Factor

Given that all these dividend stocks are "foreign" companies the risk of currency exchange movement comes into play. Now this isn't to say that "risk" is inherently bad but rather it's a reminder of the potentially positive or negative effects it can have on this type of dividend stock. In that currency exchange movements can not only have a positive or negative effects on the stock price itself but it can also have an effect on the dividend yield along with other areas of interest such as future earnings for example.

The point here is that when someone is doing further due diligence this is a unique X-Factor relative to these dividend stocks that shouldn't be overlooked or "gazed at" briefly.

We hope this list helps investors do their own due diligence and look for interesting dividend stock opportunities on their own time.

Source: 9 Cheap Dividend Stocks With Strong Top Line Growth Offering Sound Yield