The major market averages are lower today after a disappointing December jobs report raised concerns that the economic recovery may not be as robust as expected.

On the flip side, investors are betting the Federal Reserve won’t be in such a rush to unwind its bond-buying stimulus. This is boosting the allure of Treasuries, which is pushing bond yields lower and making dividend-paying stocks, which tend to trade like bonds, more attractive.

You can see this affect at play today in the stock market.  Below is a list of the 20 stocks in the S&P 500 with the highest dividend yields.  Nineteen of them are trading higher, with an average gain of 1.2%:

S&P 500: Top 20 Dividend-Paying Stocks

Ticker

Security

Last

Change

% Chg

Div. Yield

(WIN) Windstream Holdings, Inc.

7.99

0.04

0.44%

12.56%

(FTR) Frontier Communications Corp.

4.73

0.05

1.18%

8.42%

(FE) FirstEnergy Corp.

32.18

0.38

1.19%

6.91%

(CTL) CenturyLink, Inc.

30.88

0.09

0.29%

6.82%

(POM) Pepco Holdings, Inc.

19.09

0.18

0.95%

5.81%

(HCP) HCP, Inc.

38.39

0.98

2.62%

5.70%

(HCN) Health Care REIT, Inc.

54.98

0.96

1.78%

5.64%

(ETR) Entergy Corporation

61.38

0.86

1.42%

5.47%

(T) AT&T Inc.

33.64

0.09

0.28%

5.26%

(TE) TECO Energy, Inc.

17.00

0.29

1.74%

5.21%

(RAI) Reynolds American Inc.

48.37

-0.14

-0.30%

5.17%

(MO) Altria Group, Inc.

37.27

0.02

0.05%

5.15%

(TEG) Integrys Energy Group, Inc.

54.10

0.85

1.60%

5.11%

(SO) The Southern Company

41.44

0.82

2.02%

5.02%

(VTR) Ventas, Inc.

60.30

2.26

3.89%

4.98%

(PPL) PPL Corporation

30.25

0.55

1.85%

4.94%

(EQR) Equity Residential

53.58

0.14

0.25%

4.92%

(EXC) Exelon Corporation

27.27

0.24

0.89%

4.63%

(ED) Consolidated Edison, Inc.

54.34

0.76

1.42%

4.61%

(RIG) Transocean Ltd.

48.58

0.08

0.16%

4.59%