With short-term certificates of deposit (CDs) yielding practically nothing, a troubled junk bond market, and fluctuating stock prices, appealing long-term investment opportunities are scarce.

It has become extremely difficult to find large companies with relatively strong balances that also have substantial yields based on their dividends. There are some companies, however, that regularly pay out favorable dividends. 24/7 Wall St. found eight companies after a screen of S&P 500 companies with yields greater than 5%. Dividend yield is defined as annual dividend per share divided by share price.

Dividends are highly coveted features of investments, because they provide reliable cash returns even for long-term investors.

Click here to see the 8 companies with yields above 5%.

We removed some troubled energy companies with relatively high yields from the list. These companies have been battered by oil and gas prices, which may make it difficult to maintain their dividends for long. Those stocks that remain are from S&P 500 components with a history of strong operations and long track records.

8. Frontier Communications (NYSE: FTR)
Yield: 7.95%
> Industry: Telecommunications
> Revenue: $5.6 billion
> Market cap: $6.2 billion

Founded in 1935, Frontier Communications Corp. provides telephone, data, and television services across 28 states.

7. Seagate (NYSE: STX)
Yield: 6.89%
> Industry: Electronic data storage
> Revenue: $13.8 billion
> Market cap: $10.7 billion

Founded in 1979, Seagate Technology PLC is a large business information storage company.

6. HCP (NYSE: HCP)
Yield: 6.94%
> Industry: Medical Facilities and Healthcare REIT
> Revenue: $2.5 billion
> Market cap: $15.1 billion

HCP Inc. invests in real estate, primarily used for medical facility locations, its largest holdings are in Texas, California, and Florida.

5. CenturyLink (NYSE: CTL)
Yield: 6.81%
> Industry: Telecom Services
> Revenue: $17.9 billion
> Market cap: $17.2 billion

CenturyLink runs telecom, IT services, and cloud storage services across North America, Asia, and Europe.

4. Iron Mountain (NYSE: IRM)
Yield: 5.92%
> Industry: Electronic storage and information management
> Revenue: $3 billion
> Market cap: $6.8 billion

Founded in 1951, Iron Mountain Inc. specializes in electronic record storage and data backup services.

3. Navient (NASDAQ: NAVI)
Yield: 5.15%
> Industry: Education loan management
> Revenue: $5.2 billion
> Market cap: $4.3 billion

This company manages and recovers student loan debt.

2. Garmin (NASDAQ: GRMN)
Yield: 5.15%
> Industry: Navigation Systems, GPS
> Revenue: $2.8 billion
> Market cap: $7.6 billion

Founded in 1989 and based in Switzerland, Garmin Ltd. is one of the top global suppliers of navigation devices for cars, marine, and personal use.

1. Welltower (NYSE: HCN)
Yield: 5.12%
> Industry: medical facilities REIT
> Revenue: $3.8 billion
> Market cap: $23.8 billion

Founded in 1970, the WellTower Inc. provides real estate for senior housing facilities and acute care locations.

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