In his latest article for Forbes.com, Validea CEO John Reese takes a look at five high-dividend-paying stocks that could get a boost from the recent extension of the Bush-era tax credits.

“By extending the 15% cap on qualified dividends for two more years, the proposal could mean a boost in some firms’ dividend payouts, and a boost for dividend-paying stocks,” Reese writes. “Companies that had been using the impending dividend tax hike as a reason not to issue or up their dividends can no longer use that excuse, and investors who’d been leery of buying high-dividend stocks no longer have to worry about higher tax bills.”

But Reese cautions that, while dividend stocks may get a boost, the tax cut extension isn’t reason to start loading up haphazardly on dividend plays. “After all,” he says, “a hefty 6% dividend payout is little consolation if a firm struggles and its share price tumbles 30%.” He says investors looking to take advantage of a potential dividend-stock bounce should be sure to focus on firms that have strong fundamentals and solid balance sheets. Reese thus offers five picks that pay high dividends and get high marks from his Guru Strategies, each of which is based on the approach of a different investing great. Among the stocks: telecom giant AT&T and utility company Exelon Corp.