One of those names is
Mahanagar Telephone Nigam
, which provides all types of telecommunications services in Delhi and Mumbai, India. It generates a dividend yield of 3.8%, which is paid twice a year. The company's trailing P/E is a reasonable 15, and its PEG ratio is 2.2. As of the end of the previous fiscal year, Mahanagar had $465 million in cash and no long-term debt.
Another India stock that pays a relatively high dividend is
, which manufactures cars, trucks, buses and other vehicles. It pays a yield of 1.5%. Tata's trailing P/E is a reasonably low 14, its price-to-sales ratio is 0.9 and its PEG ratio is a very decent 0.7. Quarterly revenue growth for the company was in excess of 60% year over year, and quarterly earnings growth was over 30%.
This is another stock owned by the Claymore/BNY BRIC ETF, and is also a Ken Fisher stock recommendation. Fisher, who is the founder, chairman and CEO of Fisher Investments, is a strong proponent of diversifying worldwide. His other recent recommendations can be found in
the Ken Fisher portfolio
To round out your India portfolio, take a look at
. This bank has over 670 branches and operates in more than 12 countries. It offers a dividend of 1.7%.
Let's move on to Russia, the largest country in the world in terms of total area. Unfortunately, there are very few Russian ADRs that trade on the
New York Stock Exchange
, and those that do don't pay dividends.
About the only way you can play the Russian market and receive a dividend is through the
Central European and Russia Fund
. This is a closed-end fund that is managed by Deutsche Asset Management International GmbH and invests in a diverse group of sectors in Russia and Eastern Europe.