Finding quality stocks that pay high dividends isn't always an easy task. There are many high-yielding stocks that unfortunately come with significant risks. One way to get around that is to buy shares of good stocks that are struggling in the short term but have the potential to rally in the long run.

Three stocks which fit that criteria and can be solid buys right now are CVS Health (CVS -1.15%), Campbell Soup (CPB -0.69%), and Verizon Communications (VZ -1.83%). Let's see why.

1. CVS Health

Shares of CVS Health are down 25% year to date, leaving the healthcare stock off to a rough start in 2023. CVS has been expanding its already diverse business via acquisitions, including its $10.8 billion purchase of primary care operator Oak Street Health and its $8 billion deal for home health company Signify Health.

So investors might be getting concerned that the business has become too aggressive about growth, especially since it's also buying back shares and continuing to pay a dividend.

But CVS has said it will pause mergers and acquisitions as it works on integration for the time being. Meanwhile, its 3.5% dividend yield is more than double the S&P 500 average of 1.6% and it remains manageable; the stock's payout ratio is at 75%, and the company generated $13.5 billion in free cash flow over the trailing 12 months, easily covering the $2.9 billion it paid in dividends over that period.

It was already a top name in pharmacy retail and now has a health insurance and pharmacy benefits business as well. So CVS' business segments in combination should provide long-term stability for investors.

And with Oak Street Health and Signify Health diversifying its operations even further, CVS could generate much more growth. Priced at just eight times its estimated future earnings, this is an incredibly cheap stock with some great long-term prospects.

2. Campbell Soup

Down 20%, Campbell Soup is another struggling stock this year that investors should consider buying. The food company, known for its canned and baked goods, has been resilient amid inflation because it has been able to raise prices and generate strong results.

For its third quarter, which ended on April 30, net sales of $2.2 billion rose 5% year over year, which management says was due largely to higher prices. The company is on track to generate between 8.5% and 10% sales growth this fiscal year, and its adjusted earnings will increase by as much as 5%.

But the stock nosedived after the earnings numbers failed to impress investors and management didn't raise its guidance. Investors might be concerned that with inflation slowing down, the company may not be able to rely on price increases to boost its revenue for much longer. 

But at 3.3%, this is another high-yielding stock that can make for an excellent buy. Campbell's payout ratio is only 56%, so even if the company's results worsen a bit this year, it shouldn't impact the dividend.

And at 15 times its estimated future profits, the stock is cheap compared with the average stock on the S&P 500, which is trading at a forward price-to-earnings multiple of 20.

3. Verizon Communications

Verizon is the best-performing stock on this list, down a relatively modest 10% thus far in 2023. Lackluster guidance for the year is likely a big reason investors aren't thrilled. Management expects its wireless service revenue to grow between 2.5% and 4.5% in 2023, which is well below the 8.6% growth it achieved in 2022.

Challenging economic conditions mean that consumers are tightening their budgets and businesses are scaling back spending, which isn't great news for Verizon. But it's a leading telecom and still generates positive results despite inflation, so the business looks to be in solid shape. Last quarter, for the first three months of the year, net income of $5 billion rose by 6.5% year over year.

Verizon's payout ratio is modest at just 51%, making its 7.4% dividend yield look incredibly attractive right now. Plus, with a forward price-to-earnings multiple of less than 8, the stock comes at a great price as well.