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John Paulson is the most successful hedge fund manager of the past four years. He made $4 billion by betting against subprime mortgage investments in 2007 and another $5 billion by betting on gold and the recovery of the economy in 2010 (see Paulson’s entire portfolio here).

We compiled Paulson's dividend stock picks at the end of June. We required a minimum dividend yield of 2%; yields were obtained from Finviz. Here are Paulson's favorite dividend stock picks:

1. TRANSOCEAN LTD (NYSE:RIG): Transocean provides offshore contract drilling services worldwide. Paulson cut his $1.6+ Billion RIG stake by 23% during the second quarter. This was also a $350+ Million transaction. RIG recently traded at $51.72 and has a 5.88% dividend yield. RIG gained 1.61% during the past 12 months. The stock has a market cap of $17.2 billion. Paulson had $1.2 billion invested in RIG shares. Leon Cooperman’s Omega Advisors also had $72 million invested in RIG shares at the end of June. Cooperman increased his RIG holdings by 44% during the last quarter (check out billionaire Cooperman’s top holdings).

2. RLJ LODGING TR (NYSE:RLJ): RLJ Lodging Trust is an independent equity real estate investment trust. RLJ recently traded at $13.02 and has a 4.61% dividend yield. The stock has a market cap of $1.4 billion. Paulson had $48 million invested in RLJ shares.

3. BLACKROCK INC (NYSE:BLK): BlackRock is a publicly owned investment manager. BLK recently traded at $151.49 and has a 3.52% dividend yield. BLK gained 5.91% during the past 12 months. The stock has a market cap of $40.4 billion and P/E ratio of 12.72. Paulson had $361 million invested in BLK shares. Lee Ainslie’s Maverick Capital also had $275 million invested in BLK shares at the end of June.

4. WEYERHAEUSER CO (NYSE:WY): Weyerhaeuser Company provides forest products worldwide. WY recently traded at $16.78 and has a 3.51% dividend yield. WY gained 7% during the past 12 months. The stock has a market cap of $9.2 billion and P/E ratio of 8.91. Paulson had $656 million invested in WY shares.

5. WHIRPOOL CORP (NYSE:WHR): Whirlpool Corporation provides home appliances worldwide. WHR recently traded at $55.02 and has a 3.43% dividend yield. WHR lost 24.38% during the past 12 months. The stock has a market cap of $4.5 billion and P/E ratio of 17.74. Paulson had $203 million invested in WHR shares. Paulson initiated his position in WHR during the fourth quarter of 2010.

6. NORTHERN TR CORP (NASDAQ:NTRS): Northern Trust Corporation is an international financial services company. NTRS recently traded at $35.72 and has a 3.07% dividend yield. NTRS lost 23.51% during the past 12 months. The stock has a market cap of $8.8 billion and P/E ratio of 14.55. Paulson had $46 million invested in NTRS shares.

7. JPMORGAN CHASE & CO (NYSE:JPM): JPMorgan Chase & Co. provides various financial services worldwide. JPM recently traded at $33.39 and has a 2.89% dividend yield. JPM lost 10.35% during the past 12 months. The stock has a market cap of $135 billion and P/E ratio of 7.4. Paulson had $192 million invested in JPM shares. Eighty five hedge funds owned JPM during the second quarter. Hedge funds own about 4% of JPM shares. Lee Ainslie Maverick Capital, Jonathan Jacobson’s Highfields Capital, and Andreas Halvorsen’s Viking Global are among the hedge funds with huge JPM positions.

8. MEDTRONIC INC (NYSE:MDT): Medtronic provides device-based medical therapies worldwide. MDT recently traded at $33.94 and has a 2.84% dividend yield. MDT gained 6.34% during the past 12 months. The stock has a market cap of $36.3 billion and P/E ratio of 11.92. Paulson had $188 million invested in MDT shares.

9. HARTFORD FINL SVCS GRP (NYSE:HIG): The Hartford Financial Services Group provides insurance and financial services worldwide. HIG recently traded at $16.7 and has a 2.32% dividend yield. HIG lost 22.32% during the past 12 months. The stock has a market cap of $7.7 billion and P/E ratio of 4.84. Paulson had $1068 million invested in HIG shares.

10. BAXTER INTL INC (NYSE:BAX): Baxter International is a global a global, diversified healthcare company. BAX recently traded at $53.59 and has a 2.29% dividend yield. BAX gained 25.34% during the past 12 months. The stock has a market cap of $30.8 billion and P/E ratio of 14.75. Paulson had $457 million invested in BAX shares.

11. TEVA PHARMACEUTICAL INDS (NYSE:TEVA): During the second quarter of 2011, John Griffin cut his stake in Teva Pharmaceuticals (TEVA) by 22%. TEVA recently traded at $39.51 and has a 2.16% dividend yield. TEVA lost 20.87% during the past 12 months. The stock has a market cap of $37.8 billion and P/E ratio of 11.53. Paulson had $202 million invested in TEVA shares.

12. STATE STR CORP (NYSE:STT): STT recently traded at $32.41 and has a 2.16% dividend yield. STT lost 11.33% during the past 12 months. The stock has a market cap of $16.8 billion and P/E ratio of 10.48. Paulson had $90 million invested in STT shares. Activist investor Nelson Peltz is also bullish about STT (check out Nelson Peltz’s favorite stocks).

13. COMCAST CORP (NASDAQ:CMCSA): Comcast Corporation provides consumer entertainment, information, and communication products and services. Paulson sold 49% of his stake in CMCSA during the second quarter. This was a $500 Million transaction. CMCSA recently traded at $20.55 and has a 2.14% dividend yield. CMCSA gained 17.52% during the past 12 months. The stock has a market cap of $57.7 billion and P/E ratio of 15.33. Paulson had $514 million invested in CMCSA shares.

Source: John Paulson's Favorite High-Dividend Stock Picks