With their share prices down 44% and 24% from their all-time highs, American Tower (NYSE: AMT) and Tractor Supply (NASDAQ: TSCO) now offer investors the highest dividend yields they ever have, at 3.7% and 2.1%, respectively. Although a ballooning dividend yield can be dangerous to chase if the company's payouts are not sustainable, that doesn't appear to be the case for these two steady operators. 

While things are far from perfect for either of these companies -- hence their struggling share prices -- American Tower and Tractor Supply could be two of the smartest dividend stocks to buy now with $400.

Here is what makes them so attractive at today's discounted prices.

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Source Fool.com