All too often, yield-starved investors give in to the temptation of high yield dividend stocks. Dividend yields greater than 5% look like an easy way to grab more current income on the surface, but dividend income is just part of the total return equation.

If a stock with a 6% dividend yield sees its price cut in half, an investor living off dividends in retirement would have been better off purchasing a lower yielding stock with less business risk and volatility, occasionally selling shares to meet his or her cash flow needs.

Remember, the market is quite efficient most of the time, so think first before chasing a high yield dividend stock that appears to be too good to be true. It often is.

With that said, we dug through our database of thousands of dividend stocks to search for companies offering a dividend yield greater than 4% with low stock price volatility, above average dividend safety, and enough dividend growth to protect retirees’ purchasing power. These characteristics don’t guarantee that these stocks won’t decline in price, but it’s a good place to start the hunt for income ideas to research on a deeper level.

1. Verizon (VZ)

Verizon is the biggest wireless services provider in the United States and offers a 5% dividend yield that is well protected by the company’s steady free cash flow generation. Over the trailing 12 months, VZ’s dividend has consumed just 47% of the free cash flow generated by the business, providing plenty of cushion.

VZ’s business has also proven to be very durable over the years. Sales only fell by 1% during the company’s fiscal year 2010 and otherwise expanded each year surrounding the financial crisis. Free cash flow per share also grew during 2008, 2009, and 2010.

While investors shouldn’t expect significant capital appreciation from a mature stock such as VZ, its dividend is very safe and the stability of the company’s business model is reflected in the stock’s relatively low beta of 0.39.