disaster2008

Dividends: A Company's Leading Indicator

What are other good parameters for judging the "reliability" of a dividend? I have generally been looking for dividend yields between 4-8% (or more if possible), and I only buy these stocks when they appear under valued so hopefully I can make gains due to stock price appreciation - so I am not buying much now because I think we are in for a correction so I will wait for better opportunities. I typically look at payout ratio, analyst earnings trends, cash/share, debt, and levered free-cash flow. What else?