Dividend stocks are a key part of most investors' overall strategies for producing portfolio income. One great source of dividend stocks is the Dow Jones Industrials (DJINDICES:^DJI), and the popular Dogs of the Dow strategy is pointing toward a high probability that Cisco Systems (NASDAQ:CSCO)Chevron (NYSE:CVX), and Microsoft (NASDAQ:MSFT) will hit investors' radar screens after New Year's.

In the following video, Dan Caplinger, The Motley Fool's Director of Investment Planning, looks at the Dogs of the Dow strategy and how these three stocks fit into it. He notes that Cisco is a classic Dogs pick, with its shares having underperformed and looking like an obvious value candidate if it can bounce back, just as Hewlett-Packard (NYSE:HPQ) did in 2013. For Microsoft and Chevron, though, bigger gains make them less typical Dow Dogs. But Dan points to some of their potential for growth as well. The Dogs of the Dow doesn't always produce outsized returns, but with solid yields of 3% and up, these three stocks are reasonable targets for investors to consider for their 2014 portfolios.

Fool contributor Dan Caplinger has no position in any stocks mentioned. The Motley Fool recommends Chevron and Cisco Systems and owns shares of Microsoft. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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.