Jim Cramer: You Should Have at Least One Dividend Stock

In Jim Cramer's Real Money column from this morning he wrote that he's looking at stocks with good, "if you can get a decent yield, a decent yield meaning 3% or better, and that yield is from a non-retail real estate investment trust (REIT), or a trusted utility, it's been a major lift or at least safety net for a stock. The gains, for example, in the real estate investment trusts related to data centers or e-commerce have been incredibly strong."

Earlier from the floor of the NYSE Jim broke down a few dividend stocks he's avoiding and two stocks for investors to take a look at:

"I favor income and I favor income that's sustainable. Don't reach for it. I posit in the piece that Macy's (M) - Get Report , even though they have a big cashflow and they've got the debt under control, 10% means it's dicey. I've gone over with Dow Chemical (DOW) - Get Report and the 6%, I feel confident there, but because that's fossil fuel, no one's buying into it."

Jim recommended Dominion (D) - Get Report and Con-Ed (ED) - Get Report .Watch the video above to find out why.