The following video is part of our "Motley Fool Conversations" series, in which Austin Smith, consumer-goods editor and analyst, and Brendan Byrnes, Industrials editor and analyst, discuss topics around the investing world.

In a continuation of our series, two of the Fool's analysts talk about one dividend to buy and one dividend to sell in 2012. Brendan likes Waste Management for its high dividend and competitive advantages. Austin dislikes Vector Group for its unsustainable payout ratio and inability to compete with its peers.

Austin Smith and Brendan Byrnes own no shares of the companies mentioned here. 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.