In the wake of the first market correction in nearly four years, your anxiety is probably rising with each trading day. As the markets dramatically swing from positive to negative, I can't blame you.

I can blame you, though, if you make one of the really dumb moves that commonly occur during periods of extreme volatility. These "investment sins" include going to cash, chasing unsustainable yields, or...doing nothing.

Here's a time-tested cure for investor uncertainty: Dividend-paying stocks with consistently growing revenue and earnings that increase dividends, year in and year out. I've recently screened the 52 stocks that make up the 2015 "Dividend Aristocrats," to find the cheapest and best values to buy now, as we head into 2016.

To earn the honorific Dividend Aristocrat, a company must typically have raised dividends for at least 25 years. More precisely, the company needs to have a managed dividend policy that increased its dividend every year for those 25 years.

These dividend powerhouses constitute the "S&P 500 High Yield Dividend Aristocrat Index," an official index of the 50-plus highest dividend yielding stocks in the S&P Composite 1500. This Aristocrat Index is maintained by Standard & Poor's, which every December updates the list of companies that make the grade.

By its very nature, a Dividend Aristocrat tends to be a large and stable blue-chip company with a strong balance sheet. Many of these companies are familiar names that produce household brands. Let's look at three that I particularly like now, because they combine high yields with extreme value and safety.

JNJ data by YCharts

Image placeholder title

1. Johnson & Johnson (JNJ) - Get Report

This trusted brand has racked up an amazing 53 years of dividend increases. With a market cap of $227 billion, Johnson & Johnson's consumer segment makes the products that are familiar to anyone who visits the local pharmacy, including over-the-counter drugs such as Tylenol, as well as non-medicinal items such as Listerine mouthwash and Neutrogena skin care lotion.

The company's medical devices and diagnostics division produces a range of products that are mainly used by health care professionals in the fields of orthopedics, surgery, vision care, diabetes care, infection prevention, diagnostics, cardiovascular disease, sports medicine, and more.

Johnson & Johnson reported third quarter earnings of $3.36 billion, or earnings-per-share (EPS) of $1.20, below $4.75 billion, or EPS of $1.66, in the same period a year ago. However, as with many large U.S.-based exporters, JNJ got temporarily whacked by the strong U.S. dollar. The company said international sales decreased 13.7% and it had a negative currency impact of 15.8%.

Future prospects look brighter, which puts this stock on the list of the market's high-yield bargain plays now.

The stock is down about 4% year to date, but Johnson & Johnson's robust research and development continually creates new drugs that position the company to benefit from rising rates of chronic disease around the world.

As an affirmation of its future prospects, the company raised its adjusted EPS guidance for fiscal year 2015 to $6.15 to $6.20. The guidance was previously $6.10 to $6.20. The company also announced a repurchase of up to $10 billion of common stock.

The stock sports a trailing 12-month price-to-earnings (P/E) ratio of 19.2, a huge bargain compared to the P/E of 54 for its sector of health care. Current dividend yield: 2.99%.

Image placeholder title

CVX

data by

YCharts

2. Chevron (CVX) - Get Report

The pain in the energy patch just doesn't seem to end, as crude prices seem to have stabilized somewhat at fairly low rates. West Texas Intermediate now hovers at $45 a barrel and Brent North Sea Crude at $48/bbl.

The low and volatile price of oil is hammering oil company earnings, but here's one play that's a solid bet on eventual recovery in the energy sector: "Super Oil" Chevron.

With a market cap of $171.5 billion, Chevron is notable for its diversification. The giant energy producer boasts a mix of assets, including liquefied natural gas (LNG), deepwater fields spread around the world, shale plays in North America, and downstream activities such as refining and retailing.

Chevron's productive capacity also is well diversified, as well as vast. The company currently produces about 724 million barrels of oil equivalent per day (mboe/d) from its North American assets; 695 mboe/d from Asia-Pacific; 612 mboe/d from Africa and Latin America; and 579 mboe/d from Europe and Eurasia.

Chevron reports third quarters earnings on Friday, October 30, before the open. The company's operating results are likely to take another hit from low prices, but that's where you'll find a long-term opportunity: the company has consistently beaten Wall Street's expectations.

Healthy refining margins are helping keep the company's overall earnings from falling off a cliff. It's this diversification that will hold Chevron in good stead when oil prices inevitably bounce back.

Last week, China, Japan and Europe all announced interest rate cuts and new policies to ease lending, which should help the sputtering economies in those regions. As it sheds non-performing assets and keeps a lid on debt, Chevron is positioned to take advantage when growth returns.

The stock sports a trailing P/E of 14, compared to the average P/E of 24 for its peers. Current dividend yield: 4.69%.

Image placeholder title

ITW

data by

YCharts

3. Illinois Tool Works (ITW) - Get Report

Illinois Tool Works is a classic recovery play that will reward investors who are patient enough to wait out temporary headwinds, such as the strong greenback.

ITW operates in seven segments: construction products, transportation, power systems and electronics, industrial packaging, food equipment, polymers and fluids, and all other. The company consistently ranks in the top 100 of patent issuers in the U.S. every year, representing a storehouse of intellectual capital that allows this industrial giant to better withstand the market's cyclical ups and downs.

Last week, the U.S. Commerce Department reported that housing starts last month rose 6.5% to a seasonally adjusted annual rate of 1.21 million homes. Increased housing activity fuels greater business and consumer activity, which in turn generates more orders for ITW's core products. The resurgence of automobile manufacturing also is proving a boon for ITW. The company derives roughly 13% of revenue from automobile OEMs, which benefit from housing-fueled prosperity.

ITW's overseas demand has slowed in recent quarters, due to slumps in Europe and key emerging markets such as China. This accounts for the company's low trailing P/E of 17, compared to the P/E of 33 for its sector of industrial goods.

However, the company is getting into fitter and leaner shape by selling off divisions that are under-performing. At the same time, Europe and Asia are showing tentative signs of getting back on their feet. Despite the market's bumpy course, this industrial powerhouse is on the right path to growth. Current dividend yield: 2.4%.

If you'd like to learn about another group of high-quality, high-yield income opportunities that are far too ignored by most investors, I also urge you to check out this free presentation: 11% Yields and No Taxes. Inside, you'll learn about one of the greatest gifts to income investors in the last century, and how you can begin taking advantage of it today for your portfolio. Click here now to learn more.

John Persinos is editorial manager and investment analyst at Investing Daily. At the time of publication, the author held no positions in the stocks mentioned.