Investing for dividends outside the US/UK—is it worth the complexity?

My portfolio is probably 80% US stocks, 15% UK, and 5% "other." I've been thinking about whether I should diversify internationally more, but the friction keeps stopping me. Curious how others handle this.

The appeal of international dividend stocks:

Higher yields in some markets. Australian banks yield 5-6%. European telecoms and utilities often yield more than US equivalents. Emerging market dividends can be even higher (with corresponding risk).

Diversification beyond US market cycles. The US market has outperformed dramatically for the past 15 years, but that's not guaranteed to continue. International exposure provides some hedge if US growth slows.

Currency diversification. Dividends paid in euros, pounds, or yen provide some natural currency hedging.

What makes me hesitate:

Withholding taxes are a nightmare. Most countries withhold tax on dividends paid to foreign investors. The rate varies—15% for many treaty countries, 30% for others. You can often reclaim some of this, but the paperwork is annoying and recovery isn't always complete. Holding in tax-advantaged accounts helps but doesn't always solve it.

Currency risk cuts both ways. A 4% yield in euros is great until the euro drops 10% against your home currency. I've had years where currency movements wiped out my dividend income entirely.

Different accounting standards and less familiar businesses. I don't understand European bank accounting as well as US banks. I can't evaluate Japanese companies as easily. This increases the chance I'm missing something important.

Research coverage is thinner. For US dividend stocks, there's abundant analysis, data, and community discussion. For a mid-cap Australian REIT? I'm mostly on my own.

What I've actually done:

For US investors, ADRs (American Depositary Receipts) are the path of least resistance. Companies like Unilever, Novartis, and Toyota are available as ADRs and pay dividends in dollars. You still deal with withholding taxes, but at least the mechanics are simpler.

I also hold a small position in an international dividend ETF (VIGI) for broad exposure without individual stock selection. The yield is lower than I'd like, but it's diversified and handles all the complexity for a low fee.

Questions for the group:

What percentage of your dividend portfolio is outside your home country?
Any specific international dividend stocks you've had good experiences with?
How do you handle the withholding tax situation—just accept it, try to reclaim, or structure around it?

Would especially love to hear from non-US investors on how you think about US dividend stocks from the other direction.