My 3 Top Dividend Stocks for October

We may be stuck in an economic environment marred by oddly low overall interest rates. That has investors searching elsewhere for ways to get a decent return on their investment capital. One option available is dividend-yielding stocks. But finding a decent yield on a dividend-paying stock when the market is generating such high valuations isn't easy. Curiously though, not every dividend-paying stock currently sports a rock-bottom yield. A handful of high-quality names are still dishing out above-average dividends and should continue to do so into the indefinite future. Here's a closer look at my three favorite such picks right now...

You know the brand, perhaps as well as any other company in the world. Coca-Cola (NYSE:KO) has been around since 1886 and its products are woven into the very fabric of our culture. Its stock has not only paid a reliable quarterly dividend for decades now, but it has increased its annualized payments every year since 1962. If you're looking for a thrilling stock pick, don't even bother looking at 3M (NYSE:MMM). The company isn't developing any cutting-edge technology, researching a cure for cancer, or embracing digital alternatives to government-issued currency. It's boring. But, that's kind of the point. Finally, I'm adding Leggett & Platt (NYSE:LEG) to my list of top dividend stocks to step into before September ends and October begins. Leggett & Platt, of course, makes bedding, furniture, and flooring. They're usually healthy industries, but hardly riveting. Ergo, it's one of those names that's easily -- and often -- overlooked.

Source: Motley Fool

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