Dividend investors are often attracted to stocks in the Dow Jones Industrial Average, since the components are typically safer choices that are widely traded. Plus, every stock on the Dow 30 pays a dividend...The stocks below are the best high yield stocks that are currently on the Dow 30. Every one of these picks have a dividend yield of at least 3%, which are great dividend opportunities for investors.

Written by Timothy J. McIntosh (The DividendManager.com)

1. Boeing Co (NYSE: BA) has gained a lot of traction since the election, as the aerospace defense industry has been well performing. The stock currently offers a dividend yield of 3.4% and is up over 20% in the last three months. Currently, Boeing is trading at 16 times its future earnings estimates.

The company has been committed to paying dividends since 1937 and has been raising its dividend since 2012. Most recently, Boeing raised its dividend by 30% in December. With its attractive yield, Boeing has the highest yield in its industry and is one of the best performing Dow stocks.

2. Caterpillar Inc. (NYSE: CAT) has outperformed the S&P 500 index in the past three months. It is currently trading at 23 times its earnings estimates. The stock soared after the election, and has continued since President Trump entered office. It is expected that Caterpillar will be well positioned for the new administrations infrastructure plans. Currently, the company offers a dividend yield of 3.15%.

It has been paying a dividend since 1933 and increasing its annual dividend since 2010. It has publicly stated that its dividend has become a high priority to its shareholders, despite a challenging economy.

3. Chevron Corporation (NYSE: CVX) is up over 16% in the last three months, but is down slightly in 2017. The stock has trended upward since the election, which was expected since the company was a donor to Trump's campaign. The stock currently trades at 20 times its future earnings estimates. Chevron has a current dividend yield of about 3.7%.

The company has also shown solid commitment to shareholders by raising its dividend every year since 1986. Although the company has been boosting dividends, its last increase in November 2016, was only a 1% jump, or just 1 cent.

4. Cisco Systems, Inc. (NYSE: CSCO) is up just 1% in 2017 and trades at 12 times its future earnings estimates. The company has been in the spotlight due to its announcement that it plans to acquire software start-up AppDynamics in a deal worth $3.7 billion. While the company has been flat in recent months, the stock is up over 30% in the past 12 months (compared to S&P performance of 20%).

Cisco has been paying a dividend since 2011 and has been increasing its dividend every year. In February 2016, Cisco boosted its dividend by 22%.

5. The Coca-Cola Co (NYSE: KO) has had flat performance so far this year, with an increase of just over 1%. The stock currently trades at 20 times its future earnings estimates. Despite Coca-Cola's slow performance (the stock is only up about 20% in the last five years), the stock is a great opportunity for investors seeking dividend income.

The company currently offers a dividend yield of 3.3% and has raising its dividend every year for over 50 years (since 1963). Last February, Coca-Cola increased its dividend by 6%. It is likely that the company will follow the same pattern this year.

6. Exxon Mobil Corporation (NYSE: XOM) has declined over 5% this year, but in the last 12 months, the stock is up over 11%. Exxon currently trades at 16 times its future earnings estimates. This performance has put Exxon as the worst Dow performer so far in 2017. Exxon has struggled to grow its production, but it has been eyeing up potential M&A deals to expand its business.

To offset its unimpressive performance, Exxon offers an excellent dividend yield, of about 3.5%. It has been raising its dividend every year since 1983, typically by about 6% per year. Last April, Exxon raised its dividend by 6%. It is likely that the company will continue this trend into 2017.

7. International Business Machines Corp. (NYSE: IBM) is up about 18% in the last 3 months, which outperformed the S&P 500 index by more than double. The company currently trades at 12 times earnings estimates and has seen performance significantly above the Technology SPDR ETF (NYSE: XLK).

From a dividend standpoint, IBM offers a dividend yield over 3% and has been increasing its dividend every year since 2000 and has been paying a dividend since 1913. In its most recent dividend increase in April 2016, IBM boosted its payout by 8%.

8. McDonald's Corporation (NYSE: MCD) is up about 8% in the last three months, despite it being almost flat in 2017. The stock currently trades at 18 times earnings, but has been watched closely by analysts after introducing its all day breakfast (which is less profitable). The company has experienced a lot of challenges, specifically with the movement for healthy eating. However, the stock still continues to be a steady choice for many dividend investors.

The company paid its first dividend in 1976 and has been continuously increasing dividends since its inception. McDonald's recently raised its dividend by 6% in October.

9. Merck & Co., Inc. (NYSE: MRK) is up nearly 4% this year, which is below the S&P 500 index, but outperformed the iShares Dow Jones US Pharma Index ETF (NYSE: IHE). The stock currently trades at 14 times earnings...

Merck has received positive feedback from analysts due to its cancer drug, Keytruda. In addition, the company has done an impressive job with vaccines, which will likely benefit the company going forward. Merck's dividend is nothing to ignore, either. The company currently offers a dividend yield of 3.10% and has a solid history of paying dividend. It last raised its dividend in November, by 2%.

10. Pfizer Inc. (NYSE: PFE) saw a fair amount of volatility in the last 12 months and is currently trading at 11 times its future earnings. Despite the sluggish performance, the company has a lot of potential with major drugs in its pipeline.

That being said, Pfizer has been a top choice for many dividend investors. The stock currently yields over 4%, after its recent 7% dividend boost in December...

11. Procter & Gamble Co (NYSE: PG) is up nearly 4% so far this year and currently trades at 21 times its future earnings. The company has done an impressive job at staying innovative and paying attention to current consumer trends. P&G is known for being loyal to its shareholders with dividends, too.

For over 60 years, the company has boosted its quarterly dividend on an annual basis. The stock currently offers a dividend yield of about 3.10%.

12. Verizon Communications Inc. (NYSE: VZ) is down on a year-to-date basis, but is up over 4% in the last four months. The stock currently trades at 12 times its future earnings.

While its stock performance is slow, investors have been attracted to Verizon for its impressive dividend. The stock currently offers a dividend yield of about 4.7%. It has also been increasing its quarterly dividend every year since 2007. Most recently, Verizon increased its dividend by 2% last September.