Dividends are a great investment strategy for retirees or anyone else looking for passive income that can pay their bills.

But be careful: Chasing sky-high dividend yields is one of the classic mistakes investors often make. Higher yields mean more income for your money, but really high yields are usually a warning sign of trouble within a company. Remember, a dividend is only good if the company can pay it.

Fortunately, some excellent ultra-yield stocks buck this rule. Here are three examples with yields ranging from almost 6% to over 8%. More importantly, you can count on the dividends to keep coming.

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Source Fool.com