The following Telecom and Utility ADR stocks of Brazil offer dividend yields of more than 5%. It should be noted however some of these companies do not pay dividends consistently.
1.Brasil Telecom Participacoes S/A (BRP) is a telecom provider with headquarters in Brasilia. The current yield is 7.36% and the P/E ratio is 14.04. Year-to-date the stock is down about 41%. In October BRP reported that its net revenue grew by 3.4% over last year.

2. Brasil Telecom S.A. (BTM) has a dividend yield 6.98%. Year-to-date the stock is down about 35%. On Dec 18, the Oi acquisition of BTM was approved.

3.The electricy utility CPFL Energia S.A. (CPL) pays a dividend of 9.40%.Year-to-date the stock is down about 21%. Annual revenue growth in the past 5 years is 12%.

4.Telecomunicacoes de Sao Paulo S/A-Telesp (TSP) is a fixed-line telecommunication services provider in the State of Sao Paulo. About 77% of its customers are residential users. The current yield is 6.73%. Annual dividend growth in the last 5 years is 25.25%.

5. TIM Participacoes SA (TSU) is wireless provider in Brazil. Annual revenue growth in the last 5 years is 69.21%. The current dividend yield is 5.82%.

Note: All data is as of market close Dec 19, 2008.