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With the sharp drops in the stock market recently, investors arelooking more and more toward income-oriented stocks. They figure thatthe dividends can provide a benefit while waiting out the volatilityof the stock market. Stockpickr has put together a list of relatively unknown companies that are paying relatively highdividends, all of which have market caps over $350 million.

One of the highest yielding stocks is

GateHouse Media

(GHS)

, at arate of 19.6%, based on its payouts for the last four quarters. Thecompany just went ex-dividend on Dec. 27 with a payment of 40cents per share to be paid on Jan. 15.

GateHouse owns over 330community newspapers across the United States and publishes yellowpage and white page telephone directories in northern California. Italso publishes telephone yellow pages on the Internet.

Last month, thecompany completed its $115 million acquisition of several MorrisPublishing Group LLC publications, primarily in the Midwest. Thestock has a forward

price to earnings ratio of 31.

GateHouse is owned by

FortressInvestment Group

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, a New York-based money manager, founded in1998, which has over $29 billion in assets under management, $10billion of which is in its hedge fund. Fortress is one of the fewpublicly traded hedge fund companies (and pays a fairly high yielditself, by the way, at 5.8%).

Fortress also owns

Brookdale Senior Living

(BKD) - Get Brookdale Senior Living Inc. Report

, which has a yield of 7.2%,

TheStreet Recommends

Clear Channel Communications

(CCU) - Get Cia Cervecerias Unidas SA Report

, which pays 2.2%, and

Lehman Brothers Holdings

( LEH),which has a yield of 1%.

Another under-the-radar, high-yield stock is

Fairpoint Communications

(FRP)

, thetelecommunications provider in rural and small urban communities,which pays a yield of 12.8%. The company is in the process of takingover

Verizon's

(VZ) - Get Verizon Communications Inc. Report

wireline operations in Maine, and expects the MainePublic Utilities Commission to approve the merger shortly. Fairpointhas a P/E of 14, and a PEG of 4.6.

Fairpoint is part of the user-created Stockpickr portfolio called

HighYield Dividend stocks, which includes a diverse mix of stocks,including overseas stocks with high dividends. The portfolio alsoincludes

Medical Properties Trust

(MPW) - Get Medical Properties Trust, Inc. Report

, which pays 10.6%, and

Macquarie Infrastructure

(MIC) - Get Macquarie Infrastructure Holdings, LLC Report

, which carries ayield of 6.4%.

Southern Copper

( PCU) pays a decent yield of 7.4%. This Phoenix-based company mines for copper, molybdenum, zinc, silver, gold and lead, primarily in Peru and Mexico. Coverage was recentlyinitiated on the company by HSBC Securities, which gave it an"overweight". The stock has a P/E of 12 and a PEG of 11.74.

Southern Copper is in the portfolio of the

Excelsior Value and Restructuring Fund

, a long-term capital appreciationfund that looks for restructuring plays. The fund has had an averageannual return of 19.94% over the last five years.

Excelsior also holds

Petroleo Brasileiro

(PBR) - Get Petróleo Brasileiro SA Report

, which yields 0.4%,

America Movil

(AMX) - Get America Movil SAB de CV Report

, which pays 3.7%, and

CONSOL Energy

(CNX) - Get CNX Resources Corporation Report

, whichyields 0.6%.

To see the entire list of the top 10

relatively unknown companies that have high yields

, including a stock that yields over 27% (and shows up in five professional Stockpickr portfolios), go to

Stockpickr.com.

At the time of publication, Altucher and/or his fund had no positions in stocks mentioned, although positions may change at any time.

James Altucher is president of

Stockpickr

LLC, a wholly owned subsidiary of TheStreet.com and part of its network of Web properties, and a managing partner at Formula Capital, an alternative asset management firm that runs a fund of hedge funds. He is also a weekly columnist for the

Financial Times

and the author of

Trade Like a Hedge Fund

,

Trade Like Warren Buffett

and

SuperCa$h

. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Altucher appreciates your feedback;

click here

to send him an email.

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