The Dow tops 18,000 during trading, the first time that has happened since July 21. After tumbling earlier in the year, the Dow is now up 3 percent year-to-date.
Despite the rally in equities, Burns McKinney, portfolio manager at NFJ Investment Group, tells CNBC's "Power Lunch" on Monday the dividend trade still has room to run.
"The traditional high yielding sectors, like the bond proxies (utilities, staples) have gotten rich, but dividend payers as a diversified whole are now 2 multiple points cheaper than the S&P," McKinney said.
He still sees opportunities in 2 consumer staples names.
Wal-Mart and Procter & Gamble are higher during trading.