4 Foreign Blue-Chip Stocks With 4% Dividend Yields to Buy

NEW YORK (TheStreet) -- What do China Petroleum & Chemical (SNP) , Empresa Nacional de Electricidad (EOC) , GlaxoSmithKline (GSK) and Westpac Banking Corporation (WBK) have in common?

They are foreign, blue-chip stocks paying 4% dividends, far superior to comparable American stocks such as Exxon Mobil (XOM) , Edison International (EIX) , Bristol-Myers Squibb (BMY) and Bank of America (BAC) .

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Beijing's China Petroleum & Chemical is "Big Oil," the UK's GlaxoSmithKline is "Big Pharma." Westpac Banking is Australia's biggest financial services company. Empresa Nacional de Electricidad operates 178 generation units in Argentina, Brazil, Chile, Colombia, and Peru from its headquarters in Santiago, Chile.

While these companies may not be well known to American investors, the chart below should make each more alluring to anyone looking for income stocks.

The average dividend yield for a member of the Standard & Poor's 500 is just under 1.9%. All of the foreign stocks have higher yields, including within their respective sectors. Paying a dividend makes a stock much more attractive in many different ways to many different investors.

The daily volume for each foreign stock above is a fraction of that for its American counterpart despite comparable market capitalization. What makes this even more glaring is how much higher the dividend yield are for the foreign stocks with the lesser amounts of volume. The lower daily volume evinces a reduced degree of investor interest, which results in pricing inefficiencies.

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