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One of the biggest concerns investors have over dividend stocks is whether company liquidity is sufficient to continue paying the dividend.

If a company has a temporary dip in earnings, it may have to use its sources of liquidity, such as cash and marketable securities, to bridge the gap and continue paying its dividend to shareholders.

We ran a screen on stocks paying high dividend yields above 3% and sustainable payout ratios below 50%. We screened these stocks for those with consistently increasing liquidity, measured by the current ratio, over the last four years.

Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the top six stocks mentioned below. Analyst ratings sourced from Zacks Investment Research.‬

We also created a price-weighted index of the stocks mentioned below, and monitored the performance of the list relative to the S&P 500 index over the last month. To access a complete analysis of this list's recent performance, click here.

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

List sorted by dividend yield.

1. Aixtron SE (AIXG): Engages in developing, producing, and installing deposition equipment for the semiconductor and compound-semiconductor industry. Market cap of $1.40B. Dividend yield at 6.08%, payout ratio at 39.90%. Current Ratio increased from 1.87 to 1.98 during the first time interval (12 months ending 2008-12-31 vs. 12 months ending 2007-12-31). For the second time interval, the Current Ratio increased from 1.98 to 2.89 (12 months ending 2009-12-31 vs. 12 months ending 2008-12-31). And for the final time interval, the Current Ratio increased from 2.89 to 2.95 (12 months ending 2010-12-31 vs. 12 months ending 2009-12-31). The stock has had a couple of great days, gaining 9.89% over the last week.

2. AstraZeneca PLC (AZN): Develops, and commercializes prescription medicines for cardiovascular, gastrointestinal, infection, neuroscience, oncology, and respiratory and inflammation diseases worldwide. Market cap of $60.66B. Dividend yield at 5.75%, payout ratio at 35.75%. Current Ratio increased from 1.12 to 1.18 during the first time interval (12 months ending 2008-12-31 vs. 12 months ending 2007-12-31). For the second time interval, the Current Ratio increased from 1.18 to 1.35 (12 months ending 2009-12-31 vs. 12 months ending 2008-12-31). And for the final time interval, the Current Ratio increased from 1.35 to 1.5 (12 months ending 2010-12-31 vs. 12 months ending 2009-12-31). The stock has gained 5.22% over the last year.

3. Entergy Corporation (ETR): Operates as an integrated energy company in the United States. Market cap of $12.59B. Dividend yield at 4.64%, payout ratio at 41.72%. Current Ratio increased from 1.22 to 1.37 during the first time interval (12 months ending 2008-12-31 vs. 12 months ending 2007-12-31). For the second time interval, the Current Ratio increased from 1.37 to 1.42 (12 months ending 2009-12-31 vs. 12 months ending 2008-12-31). And for the final time interval, the Current Ratio increased from 1.42 to 1.56 (12 months ending 2010-12-31 vs. 12 months ending 2009-12-31). The stock has gained 4.27% over the last year.

4. American Greetings Corp. (AM-OLD): Engages in the design, manufacture, and sale of greeting cards and other social expression products worldwide. Market cap of $497.39M. Dividend yield at 4.62%, payout ratio at 28.37%. Current Ratio increased from 1.55 to 1.64 during the first time interval (12 months ending 2009-02-28 vs. 12 months ending 2008-02-29). For the second time interval, the Current Ratio increased from 1.64 to 1.88 (12 months ending 2010-02-28 vs. 12 months ending 2009-02-28). And for the final time interval, the Current Ratio increased from 1.88 to 2.09 (12 months ending 2011-02-28 vs. 12 months ending 2010-02-28). The stock is a short squeeze candidate, with a short float at 20.62% (equivalent to 10.27 days of average volume). The stock has performed poorly over the last month, losing 24.97%.

5. Shaw Communications, Inc. (SJR): Provides broadband cable television, Internet, digital phone, telecommunications, and satellite direct-to-home (DTH) services primarily in Canada and the United States. Market cap of $8.72B. Dividend yield at 4.55%, payout ratio at 0.07%. Current Ratio increased from 0.49 to 0.55 during the first time interval (12 months ending 2009-08-31 vs. 12 months ending 2008-08-31). For the second time interval, the Current Ratio increased from 0.55 to 0.58 (12 months ending 2010-08-31 vs. 12 months ending 2009-08-31). And for the final time interval, the Current Ratio increased from 0.58 to 1.12 (12 months ending 2011-08-31 vs. 12 months ending 2010-08-31). The stock has lost 1.34% over the last year.

6. Seagate Technology PLC (STX): Designs, manufactures, markets, and sells hard disk drives for the enterprise, client compute, and client non-compute market applications in the United States and internationally. Market cap of $7.68B. Dividend yield at 3.93%, payout ratio at 30.28%. Current Ratio increased from 1.3 to 1.34 during the first time interval (53 weeks ending 2009-07-03 vs. 52 weeks ending 2008-06-27). For the second time interval, the Current Ratio increased from 1.34 to 1.81 (52 weeks ending 2010-07-02 vs. 53 weeks ending 2009-07-03). And for the final time interval, the Current Ratio increased from 1.81 to 1.86 (52 weeks ending 2011-07-01 vs. 52 weeks ending 2010-07-02). This is a risky stock that is significantly more volatile than the overall market (beta = 2.18). The stock has had a couple of great days, gaining 15.46% over the last week.

7. Cato Corp. (CATO): Operates as a specialty retailer of fashion apparel and accessories in the southeastern United States. Market cap of $689.05M. Dividend yield at 3.89%, payout ratio at 38.04%. Current Ratio increased from 1.97 to 2.09 during the first time interval (12 months ending 2009-01-31 vs. 12 months ending 2008-02-02). For the second time interval, the Current Ratio increased from 2.09 to 2.2 (12 months ending 2010-01-30 vs. 12 months ending 2009-01-31). And for the final time interval, the Current Ratio increased from 2.2 to 2.45 (12 months ending 2011-01-29 vs. 12 months ending 2010-01-30). The stock is a short squeeze candidate, with a short float at 8.45% (equivalent to 13.64 days of average volume). The stock has lost 6.53% over the last year.

8. Hasbro Inc. (HAS): Engages in the design, manufacture, and marketing of games and toys. Market cap of $4.11B. Dividend yield at 3.76%, payout ratio at 38.63%. Current Ratio increased from 2.13 to 2.14 during the first time interval (52 weeks ending 2008-12-28 vs. 52 weeks ending 2007-12-30). For the second time interval, the Current Ratio increased from 2.14 to 2.51 (52 weeks ending 2009-12-27 vs. 52 weeks ending 2008-12-28). And for the final time interval, the Current Ratio increased from 2.51 to 3.09 (52 weeks ending 2010-12-26 vs. 52 weeks ending 2009-12-27). The stock has performed poorly over the last month, losing 14.09%.

9. E. I. du Pont de Nemours and Company (DD): Chemicals Industry. Market cap of $42.54B. Dividend yield at 3.56%, payout ratio at 44.07%. Current Ratio increased from 1.54 to 1.58 during the first time interval (12 months ending 2008-12-31 vs. 12 months ending 2007-12-31). For the second time interval, the Current Ratio increased from 1.58 to 1.84 (12 months ending 2009-12-31 vs. 12 months ending 2008-12-31). And for the final time interval, the Current Ratio increased from 1.84 to 2.03 (12 months ending 2010-12-31 vs. 12 months ending 2009-12-31). The stock has lost 4.82% over the last year.

10. Hillenbrand, Inc. (HI): Distributes, and sells funeral service products to licensed funeral directors operating licensed funeral homes. Market cap of $1.40B. Dividend yield at 3.44%, payout ratio at 44.20%. Current Ratio increased from 0.98 to 1.73 during the first time interval (12 months ending 2009-09-30 vs. 12 months ending 2008-09-30). For the second time interval, the Current Ratio increased from 1.73 to 2.75 (12 months ending 2010-09-30 vs. 12 months ending 2009-09-30). And for the final time interval, the Current Ratio increased from 2.75 to 2.79 (12 months ending 2011-09-30 vs. 12 months ending 2010-09-30). The stock has gained 5.51% over the last year.

*Accounting data sourced from Google Finance, all other data sourced from Finviz.

Source: 10 High Dividend Yield Stocks With Consistently Rising Liquidity