Dividends4Life: 3 Top Dividend Stocks to Maximize Your Retirement Income

Dividend-paying stocks from low-risk, high-quality companies are a smart way to generate steady and reliable attractive income streams to replace low risk, low yielding Treasury and bond options. Look for stocks that have paid steady, increasing dividends for years (or decades), and have not cut their dividends even during recessions. One approach to recognizing appropriate stocks is to look for companies with an average dividend yield of 3% and positive average annual dividend growth. Numerous stocks hike dividends over time, counterbalancing inflation risks. Here are three dividend-paying stocks retirees should consider for their nest egg portfolio.

LCNB (LCNB) is currently shelling out a dividend of $0.21 per share, with a dividend yield of 4.42%. This compares to the Banks - Northeast industry's yield of 2.5% and the S&P 500's yield of 1.57%. The company's annualized dividend growth in the past year was 5%. SB Financial Group, Inc. (SBFG) is paying out a dividend of $0.13 per share at the moment, with a dividend yield of 3.01% compared to the Banks - Northeast industry's yield of 2.5% and the S&P 500's yield. The annualized dividend growth of the company was 14.13% over the past year. Currently paying a dividend of $1.8 per share, Simon Property (SPG) has a dividend yield of 5.72%. This is compared to the REIT and Equity Trust - Retail industry's yield of 4.11% and the S&P 500's current yield. Annualized dividend growth for the company in the past year was 9.09%.

Source: NASDAQ

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