If you are looking for the perfect stock, these days you might ignore the P/E ratios and the PEG ratios and look to weather a severe recession with stocks that have large amounts of cash and no debt that pay high dividends.

According to WallStreetNewsNetwork.com, there are 35 stocks that are debt-free, with plenty of cash and dividend yields of 1% to 18.5%.

Biovail (BVF) is a pharmaceutical company that develops treatments for central nervous system disorders, pain management and cardiovascular diseases. It currently has 354.1 million in cash, or $2.23 in cash per share. The stock has a forward PE of 7.1 and pays a yield of 18.5 %.

Terra Nitrogen (TNH) produces and markets nitrogen fertilizer products. It currently has 190.1 million in cash, or $10.18 in cash per share. The stock has a P/E of 5.5 and pays a yield of 14.9 %.

Mahanagar Telephone Nigam (MTE) is a provider of fixed-line and other telecommunications services in Delhi and Mumbai, India. It currently has 704.9 million in cash, or $2.24 in cash per share. The stock has a forward P/E of 10.17 and pays a yield of 9.4 %.

Maxim Integrated Products (MXIM) makes and sells linear and mixed-signal integrated circuits. It currently has 1.218 billion in cash, or $3.80 in cash per share. The stock has a forward P/E of 11.36 and pays a yield of 6.5 %.

Lorillard (LO) makes and markets cigarettes in the United States. It currently has 1.208 billion in cash, or $7.11 in cash per share. The stock has a forward P/E of 11.66 and pays a yield of 5.8 %.

Grupo Aeroportuario Del Sureste (ASR) is an operator of airports in Mexico. It currently has 136.0 million in cash, or $4.54 in cash per share. The stock has a forward P/E of 9.31 and pays a yield of 5.8 %.

Cohn & Steers (CNS) is a manager of high-income equity portfolios and provider of investment banking services. They currently have 200.4 million in cash, giving them $4.82 in cash per share. The stock has a forward P/E of 15.9 and pays a yield of 5.7 %.

Gentex (GNTX) makes and sells electro-optic products, automatic-dimming rearview mirrors and fire protection products. It currently has 338.2 million in cash, or $2.41 in cash per share. The stock has a forward P/E of 17.98 and pays a yield of 5 %.

Paychex (PAYX) is a provider of payroll services, and integrated human resource and employee benefits outsourcing. It currently has 464.1 million in cash, or $1.29 in cash per share. The stock has a forward P/E of 15.77 and pays a yield of 4.7 %.

Analog Devices (ADI) makes and sells analog, mixed-signal, and digital signal processing integrated circuits. It currently has 1.278 billion in cash, or $4.40 in cash per share. The stock has a forward P/E of 11.85 and pays a yield of 3.8 %.

An Excel spreadsheet database of 35 high cash, no debt, high yield stocks can be found at WallStreetNewsNetwork.com. If you like high yield stocks, you should also consider Tax Free Income Stocks, and Top Yielding Electric Utilities.

Author owns ASR.

By Stockerblog.com

Posted on Nov. 13, 2008