Dividends are great for building wealth over the long-term. That's why I'm always on the lookout for the next great dividend stock to add to my portfolio. Right now I have my eyes on three top dividend payers that all could be added to my portfolio in 2014. Here they are, along with the reasons I'm not buying them just yet.

Drilling deeper for profits
Seadrill (SDRL) is currently the top dividend stock on my watchlist. I've been patiently waiting for its stock to drop so that I can buy shares at a dividend yield of more than 10%. I tried to buy shares earlier this year by writing put options, but the stock took off, leaving me with just income for my efforts.

I think that it's quite possible that Seadrill will endure some rough seas in the year ahead. It is very possible that we'll see oil prices dip a bit as all seems to be calm in the world, especially in the Middle East. Not to mention the fact that American's oil boom is pushing prices lower in the U.S. Further, global oil producers have cut back spending to drill for oil and gas. That said, the longer-term fundamentals for deepwater oil drilling remain strong, which is why I want to own Seadrill.

I have a hunch that investors will be able to pick up shares of Seadrill at a bargain price at some point next year. My current plan is to buy half an allocation when shares drop to a 10% yield, and the rest of my allocation if shares do fall even further.

Want to watch Seadrill in 2014? Add Seadrill to My Watchlist.

Fracking's biggest beneficiary
Like Seadrill, I wrote puts to buy frack sand producer Hi-Crush Partners (HCRS.Q) in 2013. I wasn't successful, as the company's units crushed the market when it became a surprising beneficiary of the U.S. fracking boom. A solid acquisition and a long-term contract with a customer it has been disputing didn't hurt either.

Hi-Crush has tremendous long-term potential, as oil and gas producers continue to use more sand per well. Producers have found that using more sand to prop open fractures in shale works best, which is a huge long-term trend for proppant producers like Hi-Crush Partners. The only problem I have with Hi-Crush is that its units have gotten a bit too pricey for my tastes. If units were to take a tumble in 2014 to around $25, then I'd consider buying.

Want to watch Hi-Crush Partners in 2014? Add Hi-Crush Partners to My Watchlist.

The perfect oil hedge?
The third company I have my eye on is Calumet Specialty Product Partners (CLMT -1.12%). Unlike Seadrill or Hi-Crush Partners, Calumet Specialty Product Partners' units didn't unexpectedly jump in 2013. In fact, units are currently trading near a 52-week low. The petroleum-based specialty product refiner instead has been hit with higher costs, which caused investors to sell.

What I like about Calumet is that, as a consumer of crude oil, it benefits as prices fall. That makes it a pretty solid hedge for a portfolio holding oil stocks. That said, the concern here is that the company's distribution could be in trouble, as its distributable cash flow and its distribution coverage ratio both plunged this year. While the company has ample liquidity, it does hold a lot of leverage. Further, most of its organic growth projects won't be completed until later in 2014, with its biggest project not contributing earnings until 2016. That gives me plenty of time to watch the company to make sure its distribution is strong enough for the long haul.

Want to watch Calumet Specialty Products in 2014? Add Calumet Specialty Products Part to My Watchlist.

Final thoughts
Building a watchlist is a great exercise for investors, especially heading into a new year. It'll make it easier to click buy when everyone else in the market is clicking sell.