NEW YORK (TheStreet) -- Pushing aside the regressiveness of dividend double taxation, along with the upcoming increase in the tax, many investors will continue to allocate portfolio capital to yield-based stocks.After all, high taxes or low taxes, as investors we still want to make money. Historically, dividend-paying stocks have performed well. There are some recent notable exceptions to the rule though. Hewlett-Packard HPQ comes to mind rather quickly. HP isn't a rising stock paying a large dividend though, and that's what separates the zeroes from the heroes in my opinion. CAG Dividend Yield data by YCharts
Conagra Fooods CAG Background: ConAgra Foods has transformed itself into an industry-leading, branded and value-added food company. 52-Week Range: $23.64 to $28.80* Book Value: $11.22 Price To Book: 2.5 Earnings Payout Percentage: 63% ConAgra currently has an annualized dividend of $1 with a yield of about 3.5%. After announcing a large special dividend and buyout, shares jumped higher. ConAgra is a great stock, but don't chase this one higher. Wait for profit-taking and a lower price (less than $29) before entering. CAG Payout Ratio TTM data by YCharts
PG Dividend Yield data by YCharts
Procter & Gamble PG Background: Procter & Gamble manufactures and markets a broad range of consumer products world wide. 52-Week Range: $59.07 to $70.83 Book Value: $23.09 Price To Book: 3 Earnings Payout Percentage: 58% P&G currently has an annualized dividend of $2.25, yielding 3.2%. I have recommended P&G before, and can you blame me? The price-to-earnings multiple is under 20 for both the trailing 12 months and the forward estimates. P&G closed at $66.68 and paid out 56.2 cents in dividends since the closing price of the last article. I don't think this company is finished rewarding investors yet. The shares are modestly higher from a month ago, but are only about a dollar from the 52 week high. The stock appreciated 14% in the last year, and the average analyst target price is $74.85. Short sellers are next to impossible to find. Short interest is so low I only include it to demonstrate the smart money is not betting against this company. Based on the last reported numbers 0.8% of the float is short. PG Payout Ratio TTM data by YCharts
------------------------------------------------------------------- TSM Dividend Yield data by YCharts
Taiwan Semiconductor TSM Background: Taiwan Semiconductor engages in computer-aided designing, manufacturing, packaging, testing, and selling integrated circuits and other semiconductor devices; and manufacturing masks. 52-Week Range: $12.14 to $16.97 Book Value: $4.45 Price To Book: 3.7 Earnings Payout Percentage: 39% The company currently pays 40 cents per share in dividends for a yield of 2.4%. Taiwan Semiconductor is like an Asian Energizer bunny. It keeps going and going. In the last month alone, the stock climbed 9%. Taiwan Semiconductor continues to make new 52-week highs just about every time I pull up the charts to look at it. If you have a strong constitution, you can buy right into strength and ride out the volatility. Otherwise, the conservative (and my personal approach) is to wait for a retracement from profit taking. After shares ease back (assuming they do), enter into a position by scaling in. JNJ Dividend Yield data by YCharts
Johnson & Johnson JNJ Background: The world's sixth-largest consumer health company. The world's largest and most diverse medical devices and diagnostics company. The world's fifth-largest biologics company and the world's eighth-largest pharmaceuticals company. 52-Week Range: $61.71 to $72.74 Book Value: $20.95 Price To Book: 3.3 Earnings Payout Percentage: 77% Investors are receiving $2.44 in dividends for a yield of 3.5%. On Aug. 29, I wrote about J&J and the closing price was $67.37. It didn't take long for J&J to move higher, and along with the capital gain, J&J paid 61 cents in dividends since. Conversely, the S&P 500 SPY didn't fare quite as well. The overall market is down slightly. Analysts as a whole like this company. Currently, Johnson & Johnson has 14 buy recommendations out of 26 analysts covering the company, along with 11 holds, and one rates it as a sell. Shares have really appreciated, gaining 12% in the last year, and the average analyst target price is $75.13. JNJ Payout Ratio TTM data by YCharts
----------------------------------------------------- MO Dividend Yield data by YCharts
Altria MO Background: Altria Group through its subsidiaries makes and sells cigarettes, smokeless products and wine in the U.S. and internationally. Founded in 1919, it is headquartered in Richmond, Va. 52-Week Range: $27.65 to $36.29 Book Value: $1.91 Price To Book: 17.4 Earnings Payout Percentage: 90% Altria pays out $1.76 annually in dividend payments. The yield based on a recent price is 5.3%. After dipping below $31, shares have lit up again. Shares are above the highly watched 200-day moving average. Altria is the classic example of why you want to buy on dips. Granted, Altria appears to be more of a tax collector than company. The most expensive ingredient in their products is the tax. While small compared to what the government takes, Altria is still able to make a relatively strong and consistent return for investors. MO Payout Ratio TTM data by YCharts
---------------------------------------------------------------------- CSCO Dividend Yield data by YCharts
Cisco Systems CSCO Background: Cisco designs, manufactures and sells Internet protocol based networking and other products related to the communications and information technology industries worldwide. Founded in 1984, it is headquartered in San Jose, Calif. 52-Week Range: $14.96 to $21.30 Book Value: $9.92 Price To Book: 1.9 Earnings Payout Percentage: 23% In the last month, the stock performed well with a 9.2% increase. If you added to your portfolio while shares traded under $18, well done. If not, it's not too late as shares are still heavily discounted due to fears of economic headwinds. Cisco currently pays 56 cents per share in dividends for a yield of 3%. As a result, investors can sit on their hands and wait it out. At 3%, you're a lot better off than letting it sit in a bank earning 0.5% Analysts as a whole like Cisco as much as I do. Currently, Cisco has 29 buy recommendations out of 46 analysts, along with 14 holds, and three have given it a sell rating. The one year return is 8.2%, and the average analyst target price for is $21.59. CSCO Payout Ratio TTM data by YCharts
At the time of publication the author held no positions in any of the stocks mentioned. Follow @RobertWeinstein This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
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