The Globe and Mail attempts to identify dividend payers that offer safety and value in its Friday, Jan. 22, edition. The Globe's Sean Pugliese writes in the Number Cruncher column that he only considered Canadian companies with a market cap of $10-billion or more. Some investors, particularly retirees, have a thirst for income. Mr. Pugliese says he likes to get paid while waiting, and dividends generally reflect safety and stability. He only considered stocks that offer a dividend yield of 4 per cent or more. He only considered companies with a low payout ratio, which implies the dividend is safer. Mr. Pugliese notes, as well, that a very low payout ratio could also signal the possibility of a future dividend increase. He also looked for companies with low price-to-earnings ratios. He says the lower the number, the better the value. He measures earnings momentum. Positive momentum is preferred, which could indicate dividend safety and a possibility of a future payout bump. Finally, he only looked at companies with small debt-to-equity ratios, another sign of safety. Mr. Pugliese's picks are Manulife Financial, Fortis, Great-West Lifeco, TransCanada, Rogers Communications and Sun Life Financial.