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7 Dividend Plays For Investors: Stock Pickers

We’re about halfway through the "dividend season" but two strategists say it’s not too late to cash in. Joseph Keating, chief investment officer of Private Asset Management at RBC Bank, and Don Taylor, portfolio manager of Franklin Rising Dividend Funds, offered their best dividend plays.

“We’re seeing many of the companies that typically have annual dividend increases are increasing their dividends between mid-single digits to mid-teens,” Taylor told CNBC. “Dividend growth rates are similar to last year.”

Taylor said some of the non-financial companies are positioned to post dividend increases.

In the meantime, Keating said he likes the large-cap, high-quality consumer product names.

“The companies that we’re looking at are projected to increase their dividend in the first half of 2010,” he said. He added that dividend-paying companies outperform other investments over time.

Keating Likes:


Enterprise Products


Johnson & Johnson

Taylor Likes:



Abbott Labs

Other Market Views:

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Keating owns shares of Enterprise Products. RBC Bank is buying shares of Pepsi, Enterprise Products, Johnson & Johnson and IBM for its clients.

Taylor owns shares of Praxair, Abbot Labs and Wal-Mart indirectly through his fund.