The following video is part of our "Motley Fool Conversations" series, in which analyst John Reeves discusses topics from across the investing world.

Over the next several weeks, we'll be looking at each of the components of the Dow Jones Industrial Average and subjecting each of them to a dividend checkup. Today, we're looking at Kraft. It's the No. 2 packaged food provider in the world after Nestle. The company has 12 brands that generate a billion in sales or more, including Oreo, Maxwell House, Oscar Meyer, and many others you'd recognize. Warren Buffett's Berkshire Hathaway is one of its biggest shareholders. Kraft pays an impressive dividend of 3%, which is about what the Dow's average payout is at the moment. This is only slightly below big Dow stalwarts McDonald's and Procter & Gamble, which pay out 3.2% and 3.6%, respectively. Kraft, which will be spinning off its North American grocery business, remains a popular holding among hedge fund managers at the moment, who think that the spinoff will unlock additional value. This one may be worth a closer look.

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John Reeves owns shares of Berkshire Hathaway and Procter & Gamble. The Motley Fool owns shares of Berkshire Hathaway and Procter & Gamble. Motley Fool newsletter services recommend Berkshire Hathaway, McDonald's, and Procter & Gamble. 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.