Cramer likes stocks with safe, juicy dividend yields, but loves companies with a history of boosting their dividends. Waste Management has increased its dividend by 81 percent over the last seven years. Going forward, Cramer thinks it has room to keep increasing the payout. The stock currently yields 4.1 percent.
In addition to paying a dividend, the company owns the nation’s largest network of landfills, which are scarce and time-consuming to build.
To play it, Cramer suggests buying a small position in Waste Management now and then buying in wide scales on the way down.
Click here for more from Cramer on Waste Management.