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Several times this week, following both strong up and down days in the market, Mad Money host and former fund manager Jim Cramer stated that he continues to believe that high dividend paying equities are the investments to now watch and consider. Cramer also stated that U.S. Treasuries are not a buy because the Fed will try to keep rates super low.

Nonetheless, Cramer said he thinks there could be more market moves downward and that investors should prepare to watch a stock shopping list that includes dividend-paying equities. Cramer noted that a good yield is especially important now that the Fed has explained that rates should stay low for the next two years. Cramer believes that investors should wait for these equities to fall to their asking price before jumping in, and to scale in with the understanding that these stocks could go lower.

Cramer put Con Edison (ED) on the shopping list, noting it is as safe as they come and also provides a 4.7% yield. He noted that the company has boosted its payout for 37 years and that it serves the high demand New York area. Several other large high-yield large-cap energy utilities also have a long history of dividend growth.

Cramer also put Enterprise Products Partners (NYSE:EPD), a pipeline MLP that just reported good earnings and currently provides a 6% distribution. Pipeline MLPs make money based upon piping petroleum and benefit from increasing demand. The lower oil prices may help raise its demand. Cramer also liked the similarly high 5.8% yield that Verizon (NYSE:VZ) offers, stating Verizon has a consistent business that is growing, but also suggested that investors wait for the dividend to hit 6% before scaling in.

Cramer also likes Bristol-Myers Squibb (NYSE:BMY), which offers a 4.9% yield and a strong pipeline. Several other high-yield large pharmaceutical companies also presently provide similar dividends and strong drug line-ups and/or pipelines.

Cramer stated he believes Darden (NYSE:DRI), which owns the Red Lobster and Olive Garden chains, is a good stock to watch because it will benefit from lower oil prices. Cramer noted that Darden offers a lower yield than the other named equities for the list, but Cramer feels the 3.7% it offers is not bad, could grow and the equity may also appreciate from here.

Cramer also thinks Kimberly Clark (NYSE:KMB) is a good consumer staples play that provides a 4.4% yield. He believes that lower energy costs will help Kimberly Clark. Similarly, as an accidental high yielder, Cramer additionally suggested International Paper (NYSE:IP) and its 4.4% accidentally high yield, as IP may also benefit from these lower oil prices and international growth.

Again, with all these equities, Cramer suggests investors wait for the yields to rise to the percent you wanted before you begin scaling in.

Disclaimer: This article is intended to be informative and should not be construed as personalized advice as it does not take into account your specific situation or objectives.

Source: Cramer's Dividend Stock Shopping List for This Volatile Market