Investor concerns about fading global economic growth momentum have resurfaced following a surprisingly weak ISM manufacturing report, mixed labor market data and fears of contagion from the recent emerging market currency turmoil. This has driven a “flight to safety” into U.S. treasury bonds and defensive, high dividend yield equities and out of the more growth-oriented segments of the equity market.

The UBS team thinks that investors that stay down this path could get hurt bad later in the year.

Dividend growth stocks are generally more economically sensitive than high dividend yield stocks, and the benefits of improving growth prospects should outweigh the headwind of higher interest rates. With profit growth staying strong, bank lending standards easing and sentiment in Europe gaining momentum, the UBS Dividend Ruler stocks are a solid place to be.

In a new research report, the UBS team adds three top new names to buy. We also review some other top names on the list.

Dominion Resources Inc. (NYSE: D) is a newcomer to the UBS list. The utility pulled in operating revenue of $3.2 billion for the recent three-month period, beating estimates by 4.8%. Although Dominion boosted sales, it kept less than expected as profit. Fourth-quarter adjusted earnings per share clocked in at $0.80, which was $0.08 below analyst estimates. Investors are paid a 3.6% dividend. The UBS price target for the stock is $73. The Thomson/First Call estimate is $67.83. Dominion closed Tuesday at $69.14.

Invesco Ltd. (NYSE: IVZ) is a top financial services and mutual fund company to make the list. The company was hit hard last week after good earnings. Many Wall Street firms, including Wells Fargo and Argus, think that this is an exceptional opportunity to buy. Investors are paid a 2.7% dividend. The UBS price target is $36, and the consensus target is $40.06. Invesco closed Tuesday at 34.35.

Travelers Companies Inc. (NYSE: TRV) is the last of three new names to make the UBS Dividend Ruler list. Some rumors have swirled around Wall Street that Warren Buffett may be eyeing the giant insurance company. Buffett is known to love the insurance business because of the amount of cash it throws off, and he already owns other insurance companies, so transitioning Travelers into the Berkshire Hathaway portfolio would be fairly painless. Investors receive a 2.5% dividend. The UBS price objective is $90, and the consensus figure is $91.86. The stock closed Tuesday at $83.21.

We screened the UBS Dividend Ruler list for the five top yielding stocks on the list.

Clorox Co. (NYSE: CLX) unveiled its strategic growth plans in an initiative called The 2020 Strategy, in which the company outlined its long-term vision. Clorox made good on its past strategic priorities, and the results speak for themselves. Over the past five fiscal years, Clorox has delivered a total stockholder return of 88%, compared to 40% for the S&P 500. Clorox’s easy-to-understand business model and focus on top brands allowed it to raise its dividend from $1.60 per share to $2.56 per share over the past five years, representing a 60% increase in that time. Investors are paid a nice 3.3% dividend. The consensus price target for the stock is $88.50. Clorox closed Wednesday at $86.83.

Coca-Cola Co. (NYSE: KO) is a top Warren Buffett name and a top name to buy at UBS. The company recently announced a partnership with coffee maker Green Mountain that sent the short-sellers to the woodshed for a huge loss. None other than Jim Cramer called the partnership a “game changer” on CNBC. Last week, Coca-Cola revealed it would invest $1.2 billion to acquire a 10% minority stake in Green Mountain. Together, the two companies will prepare the launch of the Keurig cold beverage platform as part of a 10-year agreement. The company pays investors a tasty 3% dividend. The UBS target price is $44. The consensus target for the iconic beverage maker is $45.04. Shares closed Tuesday at $38.64.

Intel Corp. (NASDAQ: INTC) has resided in the list for some time, and the chip giant may be due for an up year. Commercial PC purchases have picked up and the company is working on boosting the ability of its general-purpose processors to move high volumes of data. Shareholders are paid a very nice 3.7% dividend. UBS has a $24 price objective. The consensus price target for the stock is $25.24. Intel closed Tuesday at $24.47.

Johnson & Johnson (NYSE: JNJ) is a top yielding health-care name to buy on the UBS list. With everything from medical devices to over-the-counter health items, the stock is a solid add for conservative portfolios. Investors are paid a 2.9% dividend. The UBS price target is $106. The consensus price target is lower at $101.02. Johnson & Johnson closed Tuesday at $92.97.

Microsoft Corp. (NASDAQ: MSFT) has finally settled the CEO issue by appointing Satya Nadella to be only the third chief executive in the history of the software giant. With the Xbox One sales still booming, the company will start to focus on new area of growth and profit. The challenge for Microsoft is the company’s push toward devices is going very well, but at the expense of margins. In the current quarter, Microsoft witnessed a 68% increase in its Devices and Consumer Hardware business. This would seem to be great news, but with a gross margin of just 8.7%, investors need to hold their applause. Investors are paid a very solid 3.1% dividend. The UBS price target is $43, but the consensus target is lower at $38.40. Microsoft closed Tuesday at $37.17.

Over the past year, the constituents of the Dividend Ruler Stocks list have largely lived up to their billing. Some 23 of the 28 stocks on the list announced dividend hikes. While the stocks may seem conservative, they are far less likely to get destroyed in any severe market correction as some of the hot momentum stocks may. That may help investors sleep a little better at night, especially with the recent market sell-off still very fresh in everybody’s mind.

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