TCW's Four Top Dividend Paying Stocks for 2017

JPMorgan (JPM) - Get Report shares are flirting with an all-time high, up over 18% year-to-date, and still they remain a bargain, said Diane Jaffee, portfolio manager for the TCW Relative Value Dividend Appreciation Fund (TGDFX) - Get Report . The TCW Relative Value Dividend Appreciation Fund is up 12.5% thus far in 2016, according to Morningstar. The $1.1 billion fund has returned an average of 13.8% annually over the past five years, outpacing 84% of its rivals in Morningstar's large value stock category. Jaffe is also bullish on GE (GE) - Get Report , down 2.7% year-to-date, saying the company is expanding its capabilities with regard to the internet of things. Chevron (CVX) - Get Report is another one of Jaffee's top picks. The oil major, which yields 4%, is up 21% thus far in 2016 even though oil stubbornly remains below $50 a barrel. Jaffee said Chevron is becoming "cleaner" with its LNG initiatives in Australia and will also start to see cash flow spike in 2017 as its capex declines. Finally, Jaffee is a fan of Microsoft (MSFT) - Get Report , which is up 6% so far in 2016 and pays a 2.6% dividend. She expects the company's $26 billion investment in LinkedIn to start paying off in 2017, calling it the "perfect database" for Microsoft's customers.