Barron's posted a list of a number of stocks that it thinks are good bets for people who have retired or are about to retire. These are high quality stocks that pay great dividends and are good for people who do not have time to take risks and make up for big losses.

Many of these stocks yield over 3% and also raise their dividends regularly. Many are American stocks, some are not. They all have certain things in common, though: they have strong competitive advantage, their cash flow and earnings look healthy in both the long and the short haul, and they have strong balance sheets and attractive valuations. Here's the list.

Banco Santander (NYSE: STD)

This Madrid-based bank posted a profit of $13.3 billion, a 9% net increase at a time when many of the other US and European banking giants are failing miserably. The Banco Santander is a mostly retail and deposit focused bank, and with a dividend yield of 4.2% on its Big Board-listed American depositary, it is one of the most profitable banks in the world.

Chevron (NYSE: CVX)

Owing to the fact that price of crude oil rises with a falling dollar, just like gold does, investing in a oil company like Chevron is a good idea for a dollar hedge. Chevron earned $11.67 in 2008, when oil prices were $150 a barrel. This year, with crude oil prices down by 47%, Chevron is earning $7.65, but is still solidly profitable. It has steadily increased its book value per share as well as its dividends, which, coupled with the fact that it is a solid company with a long history of good results, will come as welcome news to people looking for safe bets. Chevron "has a nice focus on renewable-energy businesses," says Chris Tsai, who runs Tsai Capital in New York. "It's also a good inflationary play, perhaps better than gold when tax-adjusted," he says.

Intel (NASDAQ: INTC)

Intel is a mammoth company, with a manufacturing scale that includes microprocessors, semiconductor chips, and sundry other computer and communications gear, and a global reach that cannot be replicated by almost any other similar company. Dividends have grown an average of 28% annually since 2004. Intel's stock usually yield about 3.3%; only this year, it has dropped to 3%, which is not all that bad given the other good things about Intel.

Johnson & Johnson (NYSE: JNJ)

Johnson & Johnson manufactures everything from Tylenol and Band-Aids to high-tech orthopedic hip replacements and coronary stents. It is one of the most respected US companies, and it is steadily growing in revenue and dividend yield. Currently, the yield stands at 3.1%, and dividend growth was at an average of 12% in the past 5 years. Johnson & Johnson is also trading at 13 times its earnings estimates, and Pioneer Investment's Carey says that "Here you have a chance to buy it at a cheap price."

McDonald's (NYSE: MCD)

McDonald's is the best-performing Dow industrial stock since 2002, up about 300% in these 9 years. This is not generally known, which is another reason McDonald's stock is a steal. And it is redeploying some of its enormous cash flow towards making things better for customers, adding new items to the menu etc - all of which will look very good in the dividend count for shareholders.

Nestlé (OTC: NSRGY)

This Swiss confectionery behemoth makes $100 billion in sales every year, in markets ranging from developed countries in the West to emerging markets in Asia and elsewhere. Surprisingly, Nestle still continues to gain market share, mostly because of the wide diversity of its line of products. Nestle's balance sheet is one of the strongest in the food industry, with a 2.6% stock yield and dividend growth of 11% annually over the last 5 years. A very good buy.

Novartis (NYSE: NVS)

This pharma company is another good investment for steady dividends. Novartis makes cardiovascular medicines like Diovan to oncology and neuroscience compounds, as well as vaccines and diagnostic tests and over-the-counter products such as Excedrin. Novartis is based in Basel, Switzerland, and its American depositary receipts have a dividend yield of 3.2%, and this has been rising 15% on an average every year for 5 years. At $4.55, which is less than 12 times 2010 earnings estimates, Novartis is cheap compared to the market P/E.