You’ll find that the stocks below are sporting some pretty nice dividends, but don’t just dive into one of the stocks listed below without doing first the necessary due diligence required. Some of these stocks could see their dividends slashed in the coming months if the market sells-off like it did back in August – but no one knows for sure and that is why, with anything, you have to weigh the risk and reward before placing the bet.

On a side note, I would say this particular stock screen elicits a lot of controversy about the quality of the dividends, and whether they are dependable. I realize that not all of these companies are going to be able to keep the high dividend that they are paying out – I’m just trying to give you some ideas for you to generate fixed incomes in a bad economy. I can tell you this though, stocks such as NLY are fairly good divi plays. On the other hand from what I’ve read and heard, WHX’s divi is very questionable in regards to its sustainability.

So caution is urged on EVERY ONE of the stocks listed below. Heck, every trade in general you make requires you to take caution. Oh, and if it trades below $5 or on a perpetual down-trend, I left it out of the screen results.

Here are the 16 Highest Dividend Stocks.