Dividend income will tumble this year and these stocks could cut payouts next, says Morgan Stanley

An employee assembles an excavator at the Caterpillar Inc. manufacturing facility in Victoria, Texas.
Callaghan O'Hare | Bloomberg | Getty Images

(This story is for CNBC Pro subscribers only.)

Dividend payments are a great source of yield in a low interest rate and volatile market environment. 

But investors have to be careful because some of these yields are too good to be true as a deep recession is likely. Here are the companies whose dividend payments are the most at risk, according to Morgan Stanley.