By InvestorPlace. This column was published in two parts. To see Part 2, click here.

Daytraders like to complain about how the Dow Jones Industrial Average doesn't reflect the broader market, or how the 30 component stocks never see shares wiggle more than a percent or two in a single trading session. But they're missing the point.

While the Dow certainly has its detractors among short-term traders with a need for instant gratification, these big-name blue chips have a lot of appeal to conservative investors. And some of the biggest selling points for Dow stocks are their healthy dividends.

Even if shares of the 30 Dow components are unlikely to double your money in a few months or even a few years, investors shouldn't discount the value of nice quarterly payouts to supplement their bank accounts. After all, the money you make from dividends spends the same way as money make from selling shares.

If you're looking for stable stocks with a hefty dividend payout, the Dow is full of them. Following is a list of five of the Top 10 Highest-Yielding Dow Dividend Stocks.

10. Coca-Cola ( KO - Get Report)

Market Cap: $128 billion

Dividend: $1.76

Yield: 2.9%

Coca-Cola recently raised its dividend by over 7% thanks to a great showing at the end of 2010. The strength of international sales continues to be a huge source of growth for this company. It its most recent earnings report, Coke's profit soared 55% in the fourth quarter compared with 2009 thanks to a 5% increase in worldwide beverage sales.

9. Home Depot ( HD - Get Report)

Market Cap: $51 billion

Dividend: $0.90

Yield: 3.0%

In late February, Home Depot reported better-than-expected fourth-quarter profits thanks to a modest 1.2% rise in total same-store-sales. But more importantly, HD raised its quarterly dividend by 5%. With over 2,200 locations, this home improvement giant has managed to stay profitable even while its competitors have suffered and is clearly looking to share more of that cash with shareholders.

8. Johnson & Johnson ( JNJ - Get Report)

Market Cap: $175 billion

Dividend: $1.96

Yield: 3.1%

Health care products giant Johnson & Johnson is the company behind profitable brands like Tylenol, Sudafed and Listerine. The company has posted strong quarterly profits in each of the last four quarters, topping expectations every time. JNJ boosted its quarterly dividend in spring of 2009 for the 47th consecutive year, and it's realistic to think that the company will do so again in 2010. With popular products projected to rake in over $64 billion in revenue, JNJ will have plenty of profits to share.

7. McDonald's ( MCD - Get Report)

Market Cap: $70 billion

Dividend: $2.20

Yield: 3.4%

McDonald's has raised its dividend each and every year since paying its first dividend in 1976 and remains one of the most reliable dividend providers on Wall Street. The largest fast-food chain in the world continues to be as dominant as ever, with almost 32,000 locations worldwide. This broad reach has been very good for McDonald's recently, since a slight drop in U.S. sales was more than offset with an impressive fourth-quarter growth rate of 4.3% in Europe, Asia, the Middle East and Africa.

6. Chevron ( CVX - Get Report)

Market Cap: $146 billion

Dividend: $2.72

Yield: 3.7%

In August, Energy giant Chevron declared a 4.60 % increase to its quarterly dividend to 68 cents per share (or $2.72 a year). As crude oil looks to break through the $80 barrier and continue its march higher, CVX could see bigger profits ahead and more incentive for another dividend increase. The company has consistently increased its dividends for more than two straight decades.