Brazil is well characterized by large and well developed agriculture, mining, manufacturing and service sectors. Brazil's economy is the seventh largest economy globally and undoubtedly strongest out of all Latin American countries. This Latin American country has steadily and significantly improved the macroeconomic stability, foreign reserves, and debt burden by shifting this debt towards real domestically held instruments. Brazil was perhaps the first emerging country that started recovery after great recession of 2008. In 2010, GDP growth rate was approx 7.5% which was highest growth rate since last 25 years. Though there are some concerns from Brazil and those are right now though unemployment level has reduced but it's still high and also income inequalities has been also increased.

While all the reasons due, I have to admit that Brazil is having currently the best economy which can provide you lots of high dividend paying stocks from which you can get healthy dividend checks 4 times every year. Return to investor which BOVESPA is giving to investor from quite some time is quite appreciable as if you look at list of all the dividend paying stocks in Brazil, you can clearly see that average dividend yield that these stocks are giving to you is a lot higher than the dividend yield returns you are getting in other major economies from the companies having same market figures.

Here for a reference to you all, I am going to put some of the Top Brazilian dividend paying stocks which can give healthy dividend amount to you in short span of time.

Cia Energetica de Minas Gerais(CMIG3:BZ)

This Company is engaged with it's operation in transmission, distributing electricity in the Brazilian state of Minas Gerais. Company produces electricity through it's hydroelectric plants.

Last trade: 13.11
P/E:3.8633
EPS:3.3934
Market Cap (M BRL):16,335.80
Dividend Indicated Gross Yield: 7.38%
Dividend PS:4.43
Ex-Dividend Date: May 2 2013
Dividend Yield: 33.79
52wk Range:12.540 - 18.353
5 yr Dividend Growth: 8.62%
1-Yr Rtn: -0.37%
Next Earnings Announcements: 03/28/2014

Cia Siderurgica Nacional SA(CSNA3:BZ)
Company has been associated with iron and steel manufacturing in Brazil and operates mines,an steel mil, services centers, ports and rail road, hot rolled, cold rolled and galvanized steel products are manufactured by CSN and distributed to automobile companies.

Last trade: 11.310
1 Yr Return: +28.51%
52wk Range:5.280 - 14.700
P/E:12.1846
EPS: 0.9282
Market Cap (M BRL):16,489.64
Dividend Indicated Gross Yield:2.43%
5 Year Dividend Growth:-2.10%
Next Earnings Announcement:02/28/2014

There are many other Brazilian high dividend paying stocks like TeleFonica Brasil offering dividend yield of 10.49 while having dividend PS of 4.49, TRACTEBEL ENERGIA with dividend yield of 7.17 and dividend ps of 2.42. You can consider stocks good to buy which are trading below their 52 week high price and having a good P/E, EPS, and PEG Ratio. At the moments many investors are evaluating their stock portfolio using GARP. Evaluation using GARP will ensure you that you are not overpaying for a particular stock that you own because sometimes our profit disappear at the moment we make a overpriced deal for dividend paying stocks.