In the pursuit of generating passive income, dividend stocks have emerged as a top choice for investors. Recognizing the potential of these stocks, Raymond James, the prominent financial institution, has identified 5 dividend stocks with impressive yields of up to 14%. This selection offers investors an opportunity to earn a steady income stream while potentially benefiting from significant returns.

Dividend stocks have become increasingly popular among investors for various reasons. They provide a reliable source of income and can serve as a promising avenue for total return. Total return encompasses various aspects of investment performance, such as interest, capital gains, dividends, and distributions accumulated over time. With dividend stocks, investors not only benefit from a stable income stream but also have the potential for lucrative returns in the long run.

In light of the current market conditions, where major indices are reaching all-time highs, the idea of shifting towards dividend stocks gains prominence. These stocks offer investors a sense of safety and the potential for passive income. Raymond James' investment strategy, backed by thorough research, has identified 5 dividend stocks that not only provide substantial dividend yields but are also attractively priced for potential returns.

The Equity Income research report from Raymond James presents a comprehensive list of 51 securities rated as Strong Buy or Outperform by their Equity Research analysts. This list is segmented into traditional C corps and Real Estate Investment Trusts (REITs). The median yield of the 42 C corps surpasses that of the S&P 500, while the REITs and the lone partnership on the list offer even higher yields due to their payout policies.

Among the dividend stocks identified by Raymond James is AT&T Inc. (NYSE: T), the world's fourth-largest telecommunications company and the largest wireless carrier in the United States. Despite undergoing a restructuring phase which resulted in a reduced dividend, AT&T still offers a respectable yield of 6.42%. The company provides various telecommunications, media, and technology services to customers worldwide.

Another dividend stock on the list is Columbia Banking System Inc. (NASDAQ: COLB), the holding company of Umpqua Bank. Operating primarily in Western US states, Columbia Banking System pays a rich dividend of 7%, rendering it an appealing choice for investors seeking steady returns. The company offers a wide array of banking, mortgage, and financial services to its customers.

Gaming and Leisure Properties Inc. (NASDAQ: GLPI) is a real estate investment trust focused on acquiring and owning casino properties. This off-the-radar stock presents investors with a dividend yield of 6.44% and solid return potential. With a triple-net lease arrangement, the company's tenants are responsible for maintenance, insurance, taxes, and utilities on the leased properties.

Mach Natural Resources L.P. (NYSE: MNR) is an independent upstream oil and gas company primarily operating in the Anadarko Basin region. Despite being a relatively new entrant, Mach Natural Resources already offers a gigantic dividend of 14%. Led by experienced industry leader Tom Ward, the company aims to become a top player in the region by leveraging its strong position and lower reinvestment rate.

Lastly, VICI Properties Inc. (NYSE: VICI), an S&P 500 experiential real estate investment trust, owns a diverse portfolio of gaming, hospitality, and entertainment properties across the United States and Canada. VICI Properties, with its net lease structure, has emerged as the top choice among net lease group stocks. Investors can enjoy a solid 5.48% dividend while gaining exposure to the gaming industry and its iconic entertainment facilities.

Raymond James' selection of high-yield dividend stocks offers investors a chance to tap into reliable income streams and potential long-term returns. As investors seek avenues for diversifying their income and achieving financial independence, dividend stocks remain a favorable choice. With thorough research and analysis, these 5 dividend stocks present an opportunity for investors to strengthen their investment portfolios and achieve their financial goals.