3 High Paying Dividend Stocks To Consider

Every investor looks for dividends to juice yields and returns, as dividends are an important source of income for many, especially retirees. Here is a list of a few low-risk, high dividend stocks that investors can sleep soundly at night. Altria

is a low-risk, large-cap stock that sports a hefty 6% dividend yield. Altria is the largest tobacco manufacturer in the country, with Marlboro being its dominant brand. Altria recently reported EPS growth of 28.6% over last year, thanks in part to Marlboro. Marlboro gained 70 basis points in market share in the cigarette segment. Altria has demonstrated it has pricing power with a 1.8% increase in revenue and 4% increase in revenue excluding excise taxes, despite volumes falling. Merck

is another low-risk defensive play, as the company recently finished its acquisition of Schering-Plough. Between the two companies, the cost cuts will be tremendous, through overlapping synergies, and research & development cuts. It will also give Merck access to new potential blockbuster drugs in its pipeline. Merck sports a 4.2% yield, and is trading at a ridiculously low multiple of 9.5 times 2011 earnings. Johnson & Johnson

, is the last low-risk, high dividend payer. The New Brunswick-based company is the maker of things like Band-Aids, Tylenol, and other products we use everyday, but don't really think about it. JNJ recently issued one of the lowest yields over U.S. Treasuries on record, indicating the strong demand for its debt. JNJ boasts a triple-A credit rating from Standard & Poor's, a distinction shared by only three other U.S. industrial firms. It trades at just 12.8 times earnings, and is one of the safest companies out there.