Some stock market indexes go hand-in-hand with dividend stocks. Take the Dow Jones Industrial Average, for example. It's chock-full of blue chip dividend stocks. It's a different story for other indexes, though.

I doubt that many investors will think of dividends when the Nasdaq-100 is mentioned as they're not generally associated with hot tech stocks. However, you actually can find some juicy dividends in the index.

Should you buy the highest-paying dividend stocks in the Nasdaq-100? Here they are -- along with an analysis to see if any are worth adding to your portfolio.

1. Walgreens Boots Alliance

Walgreens Boots Alliance (WBA 0.57%) ranks, by far, as the highest-paying dividend stock in the Nasdaq-100, with a dividend yield of 8.37%. The pharmaceutical retailer and wholesaler also is the top dividend payer in the Dow Jones and the second-highest-paying dividend stock in the S&P 500.

As a bonus, Walgreens has increased its dividend for 47 consecutive years. So is this stock a perfect pick for income investors? Not really.

That great dividend track record appears to be in serious jeopardy. Walgreens hasn't increased its dividend so far in 2023. With only a couple of weeks left in the year, it seems unlikely that the company will extend its streak of dividend hikes to 48.

Walgreens continues to face major headwinds. As a result, it has cut costs, undergone turnover in its executive ranks, and sold some of its positions in other companies to raise capital.

This isn't a stock for the faint of heart. However, investors seeking a high dividend yield and a potential turnaround play might be interested in buying a small position in Walgreens.

2. Diamondback Energy

While the Nasdaq-100 includes the widely followed FAANG stocks, it also features the "FANG" stock -- Diamondback Energy (FANG 0.32%). Unlike the popular tech giants, this company offers an especially high dividend yield of over 6.9%.

Diamondback is an independent oil and natural gas company that's based in Midland, Texas. Its stock has performed well this year, jumping over 20%. Despite this nice gain, Diamondback remains attractively valued, with shares trading at under 7x expected earnings.

The oil and gas producer's dividend program has an intriguing twist. Diamondback offers a base dividend plus a variable dividend. The variable dividend is paid only if the company generates enough free cash flow after paying its base dividend and funding any stock buybacks. Overall, Diamondback's policy is to return at least 75% of its free cash flow to stockholders via dividends and share repurchases.

Because of the nature of the oil and gas industry, Diamondback's stock tends to be volatile. Risk-averse investors will probably be better off looking at other alternatives. However, income investors with a high tolerance for risk should like Diamondback.

3. American Electric Power

American Electric Power (AEP -1.84%) takes the No. 3 spot among the highest dividend payers in the Nasdaq-100 with a dividend yield of 4.4%. It's also the only utility stock in the tech-heavy index.

Is AEP a great stock to buy right now? It depends on your investing style. Growth investors probably won't find AEP all that attractive. Over the last five years, the stock has increased by a measly low-single-digit percentage, while the Nasdaq-100 index has soared.

However, if you're an income investor, you just might love AEP. Not only does the company offer a relatively high yield, its dividend is very reliable. AEP has paid a dividend for 454 consecutive quarters. That's more than 113 years of regularly paying dividends.