Global Undervalued Dividend Payers

U.S. Bancorp

Market Cap: US$68.5b

A financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States.

Canadian Imperial Bank of Commerce

Market Cap: CA$92.6b

A diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally.

Industrial Bank

Market Cap: CN¥476.8b

Provides banking services in the People’s Republic of China.

Wuliangye YibinLtd

Market Cap: CN¥469.7b

Manufactures and sells liquor and wine products under the Wuliangye brand in China.

EOG Resources

Market Cap: US$63.6b

Explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas in producing basins in the United States, the Republic of Trinidad and Tobago, and internationally.

Equinor

Market Cap: NOK 641.6b

An energy company, engages in the exploration, production, transportation, refining, and marketing of petroleum and other forms of energy in Norway and internationally.

Elevance Health

Market Cap: US$61.8b

Operates as a health benefits company in the United States.

China CITIC Bank

Market Cap: HK$460.7b

Provides various banking products and services in the People’s Republic of China and internationally.

Oversea-Chinese Banking

Market Cap: S$75.5b

Provides financial services in Singapore, Malaysia, Indonesia, Greater China, rest of the Asia Pacific, and internationally.

Bayerische Motoren Werke

Market Cap: €50.2b

Develops, manufactures, and sells automobiles and motorcycles, spare parts, and accessories worldwide.

Shin-Etsu Chemical

Market Cap: JP¥8.2t

Provides infrastructure, electronics, and functional materials in Japan.

Truist Financial

Market Cap: US$55.4b

A financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States.

Japan Tobacco

Market Cap: JP¥8.1t

A tobacco company, manufactures and sells tobacco products, pharmaceuticals, and processed foods in Japan and internationally.

NatWest Group

Market Cap: UK£41.4b

Provides banking and financial products and services in the United Kingdom and internationally.

Swiss Re

Market Cap: CHF 43.7b

Provides reinsurance, insurance, other insurance-based forms of risk transfer, and other insurance-related services worldwide.

Merck KGaA

Market Cap: €46.6b

Operates as a science and technology company in Germany.

Allstate

Market Cap: US$52.6b

Provides property and casualty, and other insurance products in the United States and Canada.

Compagnie de Saint-Gobain

Market Cap: €45.1b

Designs, manufactures, and distributes materials and solutions for the construction and industrial markets worldwide.

FedEx

Market Cap: US$51.2b

Provides transportation, e-commerce, and business services in the United States and internationally.

Deutsche Post

Market Cap: €43.4b

Operates as a mail and logistics company in Germany, rest of Europe, the Americas, the Asia Pacific, the Middle East, and Africa.

Schlumberger

Market Cap: US$49.3b

Engages in the provision of technology for the energy industry worldwide.

Grupo México. de

Market Cap: Mex$921.4b

Engages in copper production, cargo transportation, and infrastructure businesses worldwide.

Suncor Energy

Market Cap: CA$66.1b

Operates as an integrated energy company in Canada, the United States, and internationally.

People's Insurance Company (Group) of China

Market Cap: HK$367.5b

An investment holding company, provides insurance products and services in the People’s Republic of China and Hong Kong.

United Overseas Bank

Market Cap: S$59.9b

Provides banking products and services worldwide.

Daiichi Sankyo Company

Market Cap: JP¥6.8t

Manufactures and sells pharmaceutical products in Japan, North America, Europe, and internationally.

China Pacific Insurance (Group)

Market Cap: CN¥332.4b

Provides insurance products to individual and institutional customers in the People’s Republic of China.

PICC Property and Casualty

Market Cap: HK$360.8b

Engages in property and casualty insurance business in People’s Republic of China.

JD.com

Market Cap: US$44.6b

Operates as a supply chain-based technology and service provider in the People’s Republic of China.

Holcim

Market Cap: CHF 35.8b

Provides building materials and solutions worldwide.

Occidental Petroleum

Market Cap: US$42.7b

Engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally.

Diamondback Energy

Market Cap: US$42.7b

An independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas.

Imperial Oil

Market Cap: CA$58.5b

Engages in exploration, production, and sale of crude oil and natural gas in Canada.

Shenzhen Mindray Bio-Medical Electronics

Market Cap: CN¥274.8b

Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

Fubon Financial Holding

Market Cap: NT$1.1t

Provides various financial services in Taiwan, Asia, and internationally.

China Unicom (Hong Kong)

Market Cap: HK$294.7b

An investment holding company, provides telecommunications and related value-added services in the People’s Republic of China.