The stock market is full of exciting young companies with massive growth potential, as well as veteran companies that have been around for decades or even over a century. The investment thesis for stocks can vary widely based on their business model. But the inherent goal of every company is to maximize shareholder value over the long term. 

Companies with limited growth prospects tend to use dividends and stock buybacks to drive shareholder returns. Dow (NYSE: DOW) and Kinder Morgan (NYSE: KMI) have limited spending plans, which ensures free cash flow (FCF) can easily cover the dividend. Meanwhile, Devon Energy (NYSE: DVN) directly passes along its profits to shareholders through a variable dividend. Here's what makes each high-yield dividend stock a great buy now. 

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Source Fool.com