Dividend yields can be high for a lot of reasons, and sometimes those reasons make investing in high-yield stocks risky. For instance, dividend yields can swell if share prices fall because a company's on shaky financial ground.

Although there's no way to completely protect yourself from the risk that a company falls on tough times, focusing on companies with catalysts that support dividend payments may improve the odds of picking winners instead of losers.

Read more at The Motley Fool.