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Warren Buffett is one of the greatest investors of all time. He explained in 2006 that one of the best ways of staying wealthy is investing in high dividend stocks with stable businesses, like utilities. We believe buying the highest dividend stocks of Buffett's portfolio is a good idea because they are the stable ones and delivering good income.

Buffett has been holding on to his positions for years if not decades to minimize taxes. We recommend investors follow a similar strategy in order to protect their investments and grow their portfolio at modest rates. This is a better alternative to investing in long-term government bonds which yield around 2%.

Here are Warren Buffett's highest dividend stock picks. All stocks in this list have dividend yield of above 3%. We obtained market data from Finviz and MSN Finance.

1. Sanofi Aventis (SNY): Sanofi provides healthcare products worldwide. Shares of SNY recently traded at $38.75 with a trailing price to earnings of 13.55 and a forward price to earnings of 9.54. SNY has a 4.53% dividend yield and gained 15.33% during the past 12 months. The stock has a market cap of $104 billion and total debt/equity ratio of 0.27. Buffett had $148 million invested in SNY shares.


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2. Glaxosmithkline Plc (GSK): GlaxoSmithKline provides medicines, and health-related consumer products worldwide. Shares of GSK recently traded at $44.91 with a trailing price to earnings of 13.57 and a forward price to earnings of 11.7. GSK has a 5.02% dividend yield and gained 23.51% during the past 12 months. The stock has a market cap of $113.3 billion and total debt/equity ratio of 1.86. Buffett had $69 million invested in GSK shares.


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3. Conocophillips (COP): ConocoPhillips is an integrated energy company operating worldwide. Shares of COP recently traded at $76.01 with a trailing price to earnings of 8.46 and a forward price to earnings of 8.5. COP has a 3.47% dividend yield and lost 1.26% during the past 12 months. The stock has a market cap of $96.8 billion and total debt/equity ratio of 0.35. Buffett had $2.1 billion invested in COP shares.


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4. General Electric (GE): General Electric Company is a technology and financial services company operating worldwide. Shares of GE recently traded at $20.07 with a trailing price to earnings of 16.32 and a forward price to earnings of 11.4. GE has a 3.39% dividend yield and gained 3.77% during the past 12 months. The stock has a market cap of $212.3 billion and total debt/equity ratio of 3.89. Buffett had $139 million invested in GE shares.


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5. Johnson & Johnson (JNJ): Johnson & Johnson provides health care products worldwide. Shares of JNJ recently traded at $65.96 with a trailing price to earnings of 18.95 and a forward price to earnings of 12.12. JNJ has a 3.46% dividend yield and gained 15.36% during the past 12 months. The stock has a market cap of $181.4 billion and total debt/equity ratio of 0.34. Buffett had $1.9 billion invested in JNJ shares.


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6. M & T Bank Corp (MTB): M&T Bank Corporation provides commercial and retail banking services. Shares of MTB recently traded at $86.88 with a trailing price to earnings of 13.64 and a forward price to earnings of 11.65. MTB has a 3.22% dividend yield and gained 1.8% during the past 12 months. The stock has a market cap of $11 billion and total debt/equity ratio of 0.81. Buffett had $411 million invested in MTB shares.


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7. Procter & Gamble Co (PG): Shares of PG recently traded at $67.21 with a trailing price to earnings of 19.77 and a forward price to earnings of 15.52. PG has a 3.12% dividend yield and gained 12.71% during the past 12 months. The stock has a market cap of $185.1 billion and total debt/equity ratio of 0.52. Buffett had $5.1 billion invested in PG shares.


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Source: Warren Buffett's 7 High Dividend Stock Picks For Strong Income