Cramer's 'Mad Money' Recap: Four Dividend Plays

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In honor of playoff season, Jim Cramer went four-for-four on Wednesday and gave viewers of his "Mad Money" TV show four stocks that yield 4% or better:

• Tupperware (TUP Quote)
• Washington Mutual (WM Quote)
• Alaska Communications Systems (ALSK Quote)
• AT&T (T Quote).

Dividends are a lot more important than people may think, Cramer said. Federal Reserve Chairman Ben Bernanke gave a speech today, and it makes Cramer believe Bernanke is close to cutting interest rates. In the event of rate cuts, market players want stocks with high dividends, he said.

Cramer's first play, Tupperware, "is perhaps one of the most boring stocks in the universe, but people should still buy it," he said.

This company is not only paying a 4.5 % dividend "while it gets its act together," but the estimates for Tupperware are low, and it should beat them, Cramer said.

His second pick, Washington Mutual, has a 4.8% yield. It also sells 10 times earnings and is buying back stock, he said. Although the company's operating margins may be going down, Cramer said its dividend is too compelling a reward and people should buy it.

A comparative stock he uses for Washington Mutual is Countrywide Financial (CFC Quote). Countrywide has been performing well, which is telling us that Washington Mutual should do the same, Cramer said.

His third stock recommendation was Alaska Communications Systems, a stock that has 12% growth and a 6.5% yield. This is "one of the best growers with one of best yields," Cramer said.