Based on http://framework.zend.com/issues/browse/ZF-6352 it seems that there is a problem while unserializing the object.

 
$paginatorObject = serialize($paginatorObject );    
$paginatorObject = unserialize($paginatorObject );

//broken UTF-8
foreach ($paginatorObject as $result) {
    var_dump($result);
}

 
//itareate to preserve UTF-8
foreach ($paginatorObject as $result) {
}   

$paginatorObject = serialize($paginatorObject );    
$paginatorObject = unserialize($paginatorObject );

//working UTF-8
foreach ($paginatorObject as $result) {
    var_dump($result);
}

Thanks to TT