If a dividend stock is struggling and falling in value, that pushes its yield up. This happens because while you are getting the same dividend, it is now costing you less money to acquire it. As long as the dividend remains sustainable, buying a dividend stock on a dip in price or near a low can be an advantageous thing for income investors to do.

Pharma stock Pfizer (NYSE: PFE) has dropped more than 30% in value over the past 12 months and is now trading near its 52-week lows. Today, its dividend yield is an incredible 6.1%, which is well above the S 500 average of 1.4% and also far higher than what Pfizer's dividend has been in the past. Has Pfizer become an incredible buy for dividend investors, and is it the best dividend stock you can own today?

A crucial question for investors any time they deal with a high-yielding dividend, particularly one that's yielding more than 5%, is whether or not the payout is safe. If a dividend isn't sustainable, then that means a dividend cut could be around the corner, and it may not be much of a deal for investors.

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Source Fool.com