There's no time like the present to invest in dividend stocks. Doing so kicks off the process of receiving extra income in the form of dividend payments every quarter (and sometimes every month).

Some dividend stocks stand out more than others. The best ones offer exceptionally high yields along with solid underlying business models. Here are three magnificent dividend stocks to buy in March.

Ares Capital (NASDAQ: ARCC) enjoys a distinction that no other stock on the market holds. It's the highest-yielding dividend stock owned by Warren Buffett. To be clear, Buffett's Berkshire Hathaway doesn't hold a direct position in Ares. However, the stock is owned by Berkshire subsidiary New England Asset Management.

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Source Fool.com