This Buffett-Backed Dividend Stock Stands Above the Rest

Warren Buffett built his reputation -- and Berkshire Hathaway's success -- on dividend stocks and income investing. The legendary CEO, who's marked 60 years at the helm, directs a massive investing portfolio that brings in hundreds of millions of dollars in dividends.

Now 95, Buffett is still making moves, adding and subtracting to Berkshire's portfolio regularly. He believes in buying shares in quality companies that have great management, a leading position in their industries, and reward their shareholders.

While there are dozens of companies in Berkshire's portfolio today, as well as some blue-chip names, Occidental Petroleum (NYSE: OXY) stands out from the rest. Berkshire is still buying shares, and even has regulatory approval to take as much as a 50% stake. And to top it off, Occidental has a solid 2.1% dividend yield, making it a great stock for income investors.

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Source Fool.com