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Do you like the comfort that dividend income can bring? For ideas on how to search for interesting dividend stocks, we ran a screen.

We screened the S&P 500 for stocks paying dividend yields above 1% and sustainable payout ratios below 50%.

We then screened for those with bullish sentiment from institutional buying, with net positive purchases in the quarter representing at least 5% of share float. This indicates "smart money" investors are bullish on these names' prospects.

Interactive Chart: Press Play to compare changes in return over the last year for the stocks mentioned below.

Do you think these stocks pay reliable dividends? Use this list as a starting point for your own analysis.

1. Cliffs Natural Resources Inc. (CLF): Produces iron ore pellets, lump and fines iron ore, and metallurgical coal products. Market cap at $5.09B, most recent closing price at $35.71. Net institutional purchases in the current quarter at 12.0M shares, which represents about 8.49% of the company's float of 141.27M shares. Dividend yield at 7%, and payout ratio at 28%. The top 2 holders of the stock are Capital World Advisors, and The Vanguard Group.

2. Safeway Inc. (SWY): Operates as a food and drug retailer in North America. Market cap at $4.66B, most recent closing price at $19.43. Net institutional purchases in the current quarter at 12.3M shares, which represents about 5.19% of the company's float of 236.97M shares. Dividend yield at 3.6%, and payout ratio at 31%. The top 2 holders of the stock are FMR, LLC, and The Vanguard Group.

3. The Washington Post Company (WPO): Operates as a diversified education and media company in the United States and internationally. Market cap at $2.86B, most recent closing price at $387.10. Net institutional purchases in the current quarter at 609.2K shares, which represents about 13.97% of the company's float of 4.36M shares. Dividend yield at 2.5%, and payout ratio at 36%. The top 2 holders of the stock are Berkshire Hathaway, and ING Investment Management.

*Insider data sourced from Yahoo! Finance, all other data sourced from Finviz.

Source: 3 S&P 500 Dividend Stocks Being Snapped Up By Money Managers