Numerical and experimental results are presented for an edge-emitting diode laser with delayed optical feedback, where the polarization state of the feedback is rotated such that the natural laser mode is coupled into the orthogonal, unsupported mode. We examine the bifurcation structure and dynamics that give rise to a class of periodic, polarization-modulated solutions, the simplest of which is a square wave solution with a period related to but longer than twice the external cavity roundtrip time. Such solutions typically emerge when the feedback is strong and the differential losses in the normally unsupported polarization mode are small. We also observe more complex waveforms that maintain the same periodicity.