Cramer's Big Dividend Play

In this volatile market, Cramer said homegamers can find safety and consistency in this high-yielding utilities, like American Electric Power.

(RELATED: Cramer's Top Dividend Stocks 2011)

Headquartered in Columbus, Ohio, American Electric Power engages in the generation, transmission and distribution of electric power. Not only is it one of the top generators, Cramer said it boasts the largest transmission system. The company's business might sound safe, but Cramer noted it gets roughly 66 percent of its generating capacity from coal, a fuel source threatened by the Environmental Protection Agency, among other government regulators.

The EPA is enforcing expensive new rules designed to make dirty coal burn cleaner, Cramer said. AEP has three years to comply, but installing the new technologies could take up to four years. Unless the EPA grants AEP more time, Cramer said it may have to prematurely close some plants.

Cramer thinks AEP can pass some of these costs onto the consumer. He also thinks its juicy dividend of 4.9 percent is safe for now. Government interference, as it put it, is a big issue. To learn more about how AEP is handling it, Cramer interviewed CEO Mike Morris. Check out the video to see the full conversation.

Call Cramer: 1-800-743-CNBC

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