Surging volatility might worry some investors. But if you're looking to generate income, the current environment for the stock market provides a tremendous opportunity.

When stocks fall, dividend yields rise. And there are quite a few stocks that should weather the current storm relatively well while paying great dividends along the way. Here are three dividend stocks to buy hand over fist right now.

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1. Innovative Industrial Properties

Innovative Industrial Properties (IIPR -0.43%) is a real estate investment trust (REIT) that focuses exclusively on the U.S. regulated cannabis industry. As a REIT, IIP must return at least 90% of its taxable income to shareholders in the form of dividends. 

The company has had plenty of taxable income to return. IIP's earnings have skyrocketed 1,000% over the past three years. Its dividend payout more than tripled during the period and now stands at close to 2.7%.

Don't let that modest yield fool you. The only reason IIP's dividend yield isn't a lot higher is that the stock has nearly quadrupled in value since early 2019. 

IIP should be able to keep up its winning ways -- and keep those dividends growing. The company currently owns 103 cannabis properties in 19 states. There are many more cannabis operators that could benefit from the real estate capital alternative that IIP offers.

2. Devon Energy

At first glance, you might wonder why Devon Energy (DVN -3.31%) makes the list of dividend stocks to buy right now. After all, most financial websites show the oil and gas producer's dividend yield is below 1%. However, there's more to the story.

Devon offers two dividends. Its low fixed dividend is what you'll see referenced on those websites. But Devon also uses up to 50% of its excess free cash flow to fund a variable dividend. 

When you combine the fixed and variable dividends, Devon's dividend yield tops 9%. That's more than seven times higher than the S&P 500 yield.

Is this dividend dependable? Yep. Devon is practically a money machine. The company has paid dividends for 29 consecutive years. It expects strong cash flow growth in 2022. In addition, Devon's shares are priced attractively compared to the S&P 500. 

3. Brookfield Infrastructure

You can get a dividend yield of a little under 3% or a little over 3% with Brookfield Infrastructure (BIP -0.70%) (BIPC -0.72%). That's because the company trades under two stock tickers -- limited partnership (LP) Brookfield Infrastructure Partners (BIP) and Brookfield Infrastructure Corporation (BIPC).

There's only one underlying business for Brookfield Infrastructure, though. And it's rock-solid. The company owns, as its name indicates, infrastructure assets. These assets include cell towers, data centers, ports, railroads, toll roads, utilities, and more.

Income-seeking investors should really like Brookfield Infrastructure's business model. Its infrastructure assets generate steady cash flow month in and month out. That's ideal for the company to fund its dividend program.

Brookfield Infrastructure also uses an asset rotation strategy. It routinely sells lower-performing assets and reinvests in other assets that can potentially generate higher returns.

Management sometimes refers to the company as a "growtility", which it defines as a "business with utility-like defensive attributes but offers premium growth potential." That's exactly the kind of dividend stock to buy hand over fist in times like these.