The following video is part of our "Better Dividend Buy" series. In this edition, Fool analysts Eric Bleeker and Andrew Tonner weigh two dividend champions of the defense industry: Boeing and Lockheed Martin. While Lockheed Martin sports a heady dividend yield pushing past 5%, both Eric and Andrew appreciate the diversification of Boeing's business. Its commercial airlines business gives it diversification from a defense industry with a rocky-looking future and an entry into fast-growing emerging markets.

Eric Bleeker and Andrew Tonner own shares of no companies listed above. The Motley Fool owns shares of Raytheon, Lockheed Martin, General Dynamics, and L-3 Communications Holdings. Motley Fool newsletter services have recommended buying shares of L-3 Communications Holdings. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.