These High Dividend-Paying Stocks Hit 52-Week Highs Without You (MO, PM, LO, KO)

Investors may want to consider high dividend paying stocks to generate yield, as it looks like we may be heading into a correction, as more stocks begin too break down technically. Certain dividend paying stocks such as Coca-Cola KO, Altria MO, Philip Morris International PM and Lorillard Inc. LO have been hitting new 52 week highs consistently, as investors more money into consumer staples and defensive names. Coca-Cola has the lowest dividend yield at 2.8%. The company is trading at 13 times 2011 earnings, and trades at a price to earnings growth ratio (PEG) of 1.8. The company is set to report earnings on April 26. Altria, the holding company for Philip Morris USA, John Middleton cigars, and other subsidiaries, pays out a dividend yield of 5.8%. The company, which also owns a large stake in SABMiller, is trading at 14.1 times 2011 earnings. The company trades at a PEG ratio of 2.26. Altria reports earnings on April 20. Philip Morris International was spun off from Altria a few years ago as a way to better capture the growth of cigarette smoking outside of the U.S., and not deal with the legal and regulatory issues of smoking here in the United States. The company sports a 3.9% dividend yield, and trades at 13.5 times forward earnings. It has a PEG ratio of 1.56. The company is set to report earnings on April 21. The last company on the list is Lorillard LO, which makes Newport cigarettes. The company derives a significant portion of its earnings from menthol cigarettes. The company has a yield of 5.8%, and trades at 11.9 times forward earnings. It also has a PEG ratio of 2.6. Lorillard reports earnings on April 26. With rising input costs, a shaky consumer, and increasing global uncertainty, these four high-yielding names may be good additions to your portfolio.