Stock Quotes in this Article: ALSK, AMX, CTL, Q

The following commentary comes from an independent investor or market observer as part of TheStreet’s guest contributor program, which is separate from the company’s news coverage. The opinions expressed are those of the author and do not represent the views of TheStreet or its management.

SAN FRANCISCO (Stockerblog) -- According to the latest Forbes magazine billionaire issue, the richest man in the world is Carlos Slim Helu, who made much of his money from the Latin American telecommunications company America Movil (AMX). The company announced this week that it is proposing a two-for-one stock split and a stock buyback in excess of $4 billion. The stock trades at 14 times current earnings and 12 times forward earnings. But it pays a nominal yield of only 0.4%.

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    Fortunately, there are plenty of other telecom stocks with high yields, as much as 8%. At WallStreetNewsNetwork.com, we've updated our free list of over 10 telecom stocks yielding 3% or more.

    For example, Alaska Communications Systems Group (ALSK) is a provider of both wireless and landlines in the forty-ninth state. The company has a market cap of $438 million, trades at 25 times forward earnings and pays a generous yield of 8.5%.

    Qwest Communications (Q), which is lucky to have a single-letter stock ticker symbol, is a $12 billion market cap company, a forward P/E of 16, and a yield of 4.8%.

    The high-paying telecom stock CenturyLink (CTL), which has a 7.2% dividend payout. The market cap is $12.5 billion, with a forward price-to-earnings ratio of 13.5. The company has increased its dividend in nine out of the last 10 years.

    To see the rest of the high paying telecommunications companies, which includes half a dozen with yields above 6%, check out the free list of high-yield telecom stocks, at WallStreetNewsNetwork.com.

    At the time of publication, author had no positions in stocks mentioned.

    Fred Fuld III, the publisher of stock and bond investing blog Stockerblog and founder of WallStreetNewsNetwork, has been in the financial services industry for over 20 years, working as an investment advisor, options market maker at the Pacific Stock Exchange, vice president of a San Francisco money management firm, university faculty member and wholesaler for the New Alternatives Fund (the first environmentally conscious mutual fund). He is the author of the books Investing in Brazil Stocks and The Green Light on Green Stocks.