Desperately Seeking Dividend Yield

With Treasurys yielding less than 2%, countless investors are looking for yield elsewhere. Trader Brian Kelly thinks he's found it, here.

He’s a buyer of Heinz for its 3.5% dividend yield.

Of course plenty of stocks offer better yields that Treasurys, but Kelly likes Heinz for the strength in of its business – and isn’t worried about its modest revenue miss.

For the period ended April 29, revenue climbed 6 percent to $3.05 billion from $2.89 billion. But the results missed Wall Street's forecast of $3.07 billion.

Kelly also likes that Heinz has increased their dividend every year since 2002. Even during the downturn in 2008. This week Heinz announced that it is raising its annual dividend by 7.3 percent to $2.06 per share.

And he likes the metrics.

“They have a steady earnings flow – they’re managing their business well, they’re able to pass along some price increase and costs of tomatoes have come down.”

Posted by CNBC's Lee Brodie

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Trader disclosure: On May 23, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Jon Najarian is long GLD CALL SPREADS; Jon Najarian is long FIO CALL SPREADS; Jon Najarian is long FCX CALL SPREADS; Jon Najarian is long AET CALL SPREADS; Jon Najarian is long IDIX CALL SPREADS; Jon Najarian is long TBIX CALL SPREADS; Jon Najarian is long ALR CALL SPREADS; Jon Najarian is long OI CALL SPREADS; Jon Najarian is long FB; Jon Najarian is long GLUU; Jon Najarian is long DDMG; Jon Najarian is long CIGX; Jon Najarian is long CME; Jon Najarian is long CBOE; Joe Terranova is long VRTS; Joe Terranova is long MCD; Joe Terranova is long PNC; Joe Terranova is long SBUX; Joe Terranova is long SJM; Joe Terranova is long UPL; Joe Terranova is long AAPL; Joe Terranova is long CNX; Joe Terranova is long LQD; Tim Seymour is long BAC; Karen Finerman is long AAPL; Karen Finerman is long BAC; Karen Finerman is long JPM; Karen Finerman is long WMT; Karen Finerman is long TGT; Karen Finerman is long RIMM; Karen Finerman is long HPQ; Karen Finerman is short SPY; Karen Finerman is short IWM; Karen Finerman is short MDY; Brian Kelly is long AAPL; Brian Kelly is long WFC; Brian Kelly is long GLD; Brian Kelly is long XLU; Brian Kelly is long INTC; Brian Kelly is long PEP; Brian Kelly is long HNZ; Brian Kelly is long MSFT; Brian Kelly is short EUROTOXX; Brian Kelly is short CAC40 with wires.