Debt can have its advantages, such as leverage, but can also be a burden. Many successful companies are debt free, such as Apple (AAPL) or have very low debt relative to cash, such as Amazon (AMZN). If you combine the debt free feature with a high yield, you may have a recipe for a successful investment. There are over ten stocks on the latest High Yield No Debt Stock List at WallStreetNewsNetwork.com, which have yields ranging from 2% to 7.7%, and all of which are debt free. An example is Paychex, Inc. (PAYX), a provider of payroll, human resource, and benefits outsourcing solutions. Its market is primarily small and medium size businesses. This debt free company pays a yield of 4.5%, and has been paying quarterly dividends since 1994. It trades at 21 times earnings. Earnings for the latest quarter were up 6.7%, on a 3.6% increase in revenues. In August, Deutsche Bank upgraded the stock from a Sell to a Hold. Another example is Erie Indemnity Co. (ERIE), an insurance company based in Erie, Pennsylvania, which also has no debt. The stock sports a yield of 3.2%, and a PE ratio of 22. Net income per diluted share for the latest quarter was up 36% year over year, with gross margins rising 21.1%. To see a free list of many other companies that have no debt and pay high yields , five of which pay more than 6%, go to WallStreetNewsNetwork.com. The list, which is in an Excel format, can be downloaded, sorted, and updated. Disclosure: Author owns AAPL and AMZN. By Stockerblog.com