For those who do stock screens based on dividend yield, and would consider buying foreign stocks via ADRs/ADSs - I just noticed that both Morningstar and Yahoo Finance (which may use MS, I'm not sure) have some bad data. They may not translate a dividend paid in euros into dollars before calculating yield. So not so hypothetically a 2.70 euro dividend paid on a $91 ADR was shown as a 3% yield, when the actual yield was over 4% - a significant difference.
I contacted Morningstar and they're correcting it for the security I noticed, but I don't know how widespread this is (quick spot-check of three other ADRs - one is right, two are wrong). It's surprising that such established data sources could have a basic error like this.
So dividend hunters, careful when using that data. I've found FT.com to be reliable, including for these ADRs, but the new WSJ.com is spotty - sometimes not even displaying a yield.
-Tad