High yields are great - don't get me wrong - but when it comes to picking a high yielding stock, the most important thing to consider is the company's basic financial standing. When a company pays out more than it is taking in, there is obviously a problem - and the problem is usually reflected in the share price. What good is a dividend if your principal is getting diminished daily?
So, instead of Googling "highest dividend yielding stock," do a bit of research. Find out if the company has the necessary funds to pay the shareholders their dividends, while still having money left to plowback into the business.
(This article contains the current opinions of the author but not necessarily those of Brighton Securities Corp. The author's opinions are subject to change without notice. This blog post is for informational purposes only. Forecasts, estimates, and certain information contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. References to specific securities and their issuers are for illustrative purposes only and are not intended and should not be interpreted as recommendations to purchase or sell such securities).