Income is a big part of investors' returns. Stocks, mutual funds and fixed income ideas in this column are featured because they are relatively solid in their ability to pay dividends or interest. We're giving income investors a resource to start their research for investments that give better yields with lower risk.

The company directly owns and manages approximately 2,200 stores, as well as approximately 10,300 Vodafone-branded stores operated through franchises and dealer arrangements. It also sells products and services through third party services providers, independent dealers, distributors, and retailers, as well as through the Internet. Vodafone Group Plc was founded in 1984 and is based in Newbury, the United Kingdom.

Vodafone's done what most companies haven't over the last several years: consistently increased revenues and profits. Sales went from $58.654 billion in 2008 to $73.414 billion last year. For 2011, look for $75.00 billion, then expect $76.75 billion in 2012 (fiscal year ends March 31). Earnings were $2.24 in '08, then went to $2.45, followed by $2.66 last year. This year, look for $2.75, then $2.85 for '12. Nothing to get excited about, except that slow and steady, every upward gets harder and harder to find during these economically challenging times.

Because VOD is headquartered in the UK and sells internationally, its earnings are influenced by currency fluctuations. As the pound increases or decreases in relationship to other currencies, earnings can be hurt or helped. For example, as the pound increased against the dollar, earnings reported in dollars increased. As with all international companies, currencies can make or break a year's earnings no matter how well the company did or didn't do.

There's big news on the dividend front for VOD holders. There will be a special dividend for stockholders next February. Instead of continuing to use all cash flow from its U.S. wireless provider (Verizon) to pay down debt, management decided to pay shareholders a one-time distribution. Hard to know the exact amount but the parent corporation (VOD) is expecting a payment of $4.5 billion of which about 70% will be used for a special dividend, the rest for debt repayment. Current payout is $1.92 for a yield of 7.6%. The dividend is paid twice yearly in early February and August.

Part of that cash is also being put to other uses. The company is buying out its joint venture partner in India for $5.5 billion. It's also continuing to pay back debt. Over in Poland, VOD is selling its part ownership in a Polish telecom-services provider. Should net the company $1.3 billion in cash.

Essential numbers:
- Market Cap: $134.57 billion
- Trailing P/E: 11.1
- Forward P/E: 8.36
- Price to sales ratio: 1.87
- Price to book: .98
- Operating Profit: 14.57%
- Profit Margin: 17.36%
- Return on equity: 8.82%
- Return on assets: 2.71%
- Total Cash: $10.78 billion
- Cash per share: $2.09
- Total debt: $59.79 billion
- Total debt to equity: 43.72%
- Current ratio: .63
- Book value per share: $26.42
- Beta: .71
- Change in last 52 weeks: +2.21%
- Shares Outstanding: 5.16 billion

Of all the numbers that stand out, for me, the most interesting one is the 52 week change. Only 2.2% to the plus side for a year's holding. For some investors, that would be a signal to look elsewhere. For many others, it makes this solid stock even more attractive as it hasn't felt the turbulence of this past year's market.