The correct answer is      (A.) Verizon (VZ)

It used to be that dividend payers themselves were the thing investors could be sure of. Tucked in the shadow of more aggressive and volatile Wall Street darlings, these venerable firms conducted their business, generated solid cash flows, posted their earnings and paid their dividends. These companies all made money the old-fashioned way. They earned it. High-flying? No. Dependable? Yes.

But last year was a tough year for dividend payers. Sixty-one of the companies in the S&P 500 Index cut their dividends in 2008, equating to $40.6 billion in lost dividend income. But it's time to apply last year's hard lessons and take a clear-eyed look at risk, performance strength, dividend coverage and, lastly, potential return.

Starting with the safety of the Dow 30, Carla separated out companies expected to show more than a 5% earnings decline. She also kicked out companies paying more in dividends than they earned, and then looked at each company's average P/E, dividend growth rate and average annual total returns for the past five years. Verizon stood out as the winner, earning $1.6 billion against its $1.3 billion dividend obligation for a payout ratio of 79.4%. As a telecommunications provider, Verizon is an essential service with high subscriber loyalty, and its 6.3% yield has made a positive impact on its total returns. And that difference is something we income investors can take to the bank.

The hunt for the safest dividend is just one of Carla Pasternak's objectives. In her weekly StreetAuthority newsletter, Dividend Opportunities, Carla looks for income-investing opportunities around every corner and in every crevice. Using methodical analysis and insightful expertise, Carla finds the best income-producing securities and provides an in-depth analysis for you every month. To learn more about Carla's picks, and to learn more about Dividend Opportunities, please visit this link.