In the following video, Motley Fool energy analysts Joel South and Taylor Muckerman take a look at ConocoPhillips' (COP 0.64%) dividend. The company just recently raised its dividend by 4.5% to $0.69 per quarter, or an annualized 4.2% yield. Joel tells investors why this independent exploration and production company is able to maintain such a high yield when others can't, why the company’s focus on production and away from exploration keeps the dividend safe, and what he likes about this company today.