Income investors love high dividend yields. Unfortunately, those yields often come with unacceptable trade-offs in the form of significant risk and/or low overall growth prospects. That's not always the case, though.

Three Motley Fool contributors think they've found some magnificent high-yield dividend stocks to buy in 2024. Here's why they picked (NYSE: ABBV), Bristol Myers Squibb (NYSE: BMY), and Pfizer (NYSE: PFE).

Prosper Junior Bakiny (AbbVie): Every good thing must come to an end. AbbVie learned that lesson the hard way last year when its blockbuster immunology medicine Humira ran out of patent protection in the U.S. The result was a steep decline in the company's sales and a rather unimpressive stock performance.

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Source Fool.com