The stock market has been unkind to most investors in 2022, with the S&P 500 down more than 24% year to date. As a result, many dividend-paying stocks are trading at a significant discount, and better yet, their dividend yields -- the ratio of a company's annual dividend to its share price -- have jumped to attractive levels.

With that in mind, here are three dividend stocks that look incredibly cheap at current valuations.

Homeowners are familiar with Church & Dwight (NYSE: CHD) products like Arm & Hammer or OxiClean, even if the parent company's name sounds unfamiliar. The household products company, a Dividend Aristocrat, has raised its dividend for 26 consecutive years. Additionally, Church & Dwight has paid a dividend for 46 consecutive years and pays $1.05 per share annually in dividends. The company's current dividend yield is 1.44% -- its highest since early 2020. 

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Source Fool.com