There's at least one positive result from the stock market correction over the past few months. Great dividend stocks can be bought at great discounts. Even better, dividend yields are higher because share prices fell.

But what are the best bargains? I like AbbVie (ABBV 1.06%), Bristol-Myers Squibb (BMY 1.30%), and Enterprise Products Partners (EPD 1.41%). Here's what makes these three top discounted dividend stocks look especially attractive.

Tab with dividends printed on it on top of a $100 bill

Image source: Getty Images.

1. AbbVie

Check out the latest AbbVie earnings call transcript.

AbbVie claims one of the best dividends in healthcare. Its yield currently stands at 4.8%. The drugmaker has increased its dividend by 168% since being spun off from parent Abbott Labs in 2013. And AbbVie's executives reiterated the company's commitment to maintaining a strong dividend at the recent J.P. Morgan Healthcare Conference.

You won't find too many healthcare stocks more attractively priced than AbbVie, either. Shares trade at only 10 times expected earnings. This low valuation is even more appealing because of AbbVie's solid growth prospects.

Although the company faces biosimilar competition in Europe for its top-selling drug, Humira, AbbVie isn't worried about hitting its growth targets. The drugmaker's current lineup includes a fast-growing hematology franchise featuring Imbruvica and Venclexta, as well as a rising star with endometriosis drug Orilissa. 

In addition, AbbVie expects to launch a couple of new blockbuster immunology drugs later this year. Risankizumab could win FDA approval for treating psoriasis in April, while AbbVie thinks upadacitinib will win approval later in 2019. The two drugs could combine for annual sales of more than $10 billion by 2025. 

2. Bristol-Myers Squibb

Check out the latest Bristol-Myers Squibb earnings call transcript.

Bristol-Myers Squibb (BMS) is another big pharma with a big dividend. Its dividend yields nearly 3.3%. Although BMS's track record of dividend increases isn't as impressive as AbbVie's is, the company has still boosted its dividend in each of the past 10 years.

The overall market correction took a toll on BMS, contributing a 25% decline in its share price since October. However, the stock looks like a bargain now, with a forward earnings multiple of 11.4. 

BMS should be able to generate solid earnings growth thanks to powerhouse cancer drug Opdivo and blockbuster blood thinner Eliquis, both of which are projected to rank in the top five best-selling drugs in the world by 2024. These drugs, along with immunology drug Orencia, chemotherapy Sprycel, and immunotherapy Yervoy, should more than offset headwinds from declining sales of the company's older drugs.

Growth could also be turbocharged if shareholders and regulators approve BMS's proposed acquisition of Celgene. Celgene's Revlimid is already one of the world's top-selling drugs. The biotech's current portfolio also includes big winners with Otezla, Pomalyst, and Abraxane. But Celgene's pipeline is the real crown jewel, with at least half a dozen potential blockbusters on the way.   

3. Enterprise Products Partners

Check out the latest Enterprise Products Partners earnings call transcript.

Unlike AbbVie and Bristol-Myers Squibb, Enterprise Products Partners isn't in the healthcare business. The company is a midstream oil and gas company, which means it owns assets such as pipelines and storage facilities involved in the transportation of oil and natural gas. But Enterprise's dividend yield of 7.1% and 21 consecutive years of dividend increases make it a top dividend stock to consider. 

Back in October, my Motley Fool colleague Gregg Brewer wrote that Enterprise Products Partners was a steal. It's even more of a steal now, with shares trading at 13.7 times expected earnings.

Enterprise isn't a monopoly, but it does dominate in several markets where it operates. There are huge barriers to entry in the midstream business, especially the sheer cost of building pipelines and other key assets required to compete. 

Another plus for Enterprise Products Partners is that it's largely insulated from volatility in oil and gas prices. The company charges fixed fees for its transportation and processing services instead of other financial arrangements tied to commodity prices. That means Enterprise can depend on relatively steady revenue -- something that dividend-seeking investors should love. 

Best pick

If your top priority is high yield, Enterprise Products Partners is a great stock to buy. The company's yield might not stay this high for too much longer as its share price rebounds, so locking in now might be a good idea.

On the other hand, if you want the whole package -- a high yield, strong growth, and a bargain valuation -- I think AbbVie wins. Even though the drugmaker faces competition for Humira, AbbVie appears to have a solid plan in place to generate double-digit percentage earnings growth while continuing to boost its dividend payout.