Views are as of July 31, 2012, and are subject to change based on market conditions and other factors. These views should not be construed as a recommendation for any specific security or sector.
There are no guarantees that dividend-paying stocks will continue to pay dividends. In addition, dividend-paying stocks may not experience the same capital appreciation potential as non-dividend-paying stocks.
International investing involves special risks including currency risk, increased volatility, political risks, and differences in auditing and other financial standards.
Federated Global Investment Management Corp.
93885
