No surprise, it's been a tough year for shareholders of Chunghwa Telecom ( CHT). Shares of Taiwan's biggest telecom operator have slid 8% in 2012, tumbling over fears of slowing growth in the East. In years past, Chunghwa's growth has been breakneck as the firm grew to own the dominant share of the Taiwanese mobile, Internet and fixed-line markets, businesses that throw off considerable cash and are generally known for hefty dividend payouts. If you think dividends are impressive at U.S. telcos right now, take a look at Chunghwa: The firm currently yields 6.24%. >>7 Dividend Stocks That Want to Pay You More Cash Scale matters in the telecom business. Because of Chunghwa's dominant size, the firm is able to invest the cash it needs to upgrade its massive networks, upgrades that should help to cement Chunghwa as the league leader in the Taiwanese telco business. Revenue growth has been stair-step in the last few years, besting many analysts' expectations for the firm, and net income has slowly risen in kind. Coupled with a massive net cash position, Chunghwa is in solid position to continue outperforming, even if the short sellers don't believe it. Right now, the firm has a short interest ratio of 11.1, a reading that indicates it would take two full weeks of buying pressure for shorts to cover their positions. That puts Chunghwa Telecom in a solid position to pop on any half-decent news that comes out this summer.