Investors hunting for tempting stocks to buy today have plenty of choice. Some FTSE 100 shares have been hammered as markets fret about war in Iran. Housebuilders such as Persimmon and Barratt Redrow fall into that camp. Others have climbed as geopolitical tension boosts demand. BP and BAE Systems stand out.

Some investors search for battered shares in the hope of recovery. Others will prefer to ride the wave of demand. Targeting dividend stocks offer a third option. When share prices fall, yields rise. Recent market turbulence means some of the biggest income payers on the FTSE 100 now offer even richer payouts.

Legal & General yields 9%

Legal & General Group (LSE: LGEN) now boasts the highest trailing yield on the index at just over 9%. This was boosted by a 10% drop in the share price over the last month, following disappointing results on 11 March.

Full-year core operating profit rose 6% to £1.62bn. Analysts had pencilled in £1.65bn. The group’s Solvency II coverage ratio also slipped, from 232% to 210%. On the plus side, management lifted the dividend by 2% and announced its largest ever share buyback worth £1.2bn.

Legal & General’s yield is fabulous, but the numbers reveal a potential concern. The full-year payout was 21.79p while core earnings per share came in fractionally below that at 20.93p. It means dividend cover is less than one, which isn’t ideal. Unless that changes, there’s a risk of the dividend being cut one day.

Standard Life shares climb

Insurer Standard Life (LSE: SDLF), recently rebranded from Phoenix Group, is the second-highest yielder on the FTSE 100. Its trailing yield is 7.9%, boosted by a near 7% fall in the share price over the past month.

Despite the recent dip the shares are still up 35% in the past year. That contrasts sharply with the Legal & General share price, flat over the same period.

Standard Life manages about £280bn of assets and current market volatility may hit their value. It operates in a competitive corner of the financial sector. Finding new business remains essential to sustain growth. Even so, the company’s steady income record, and occasional burst of growth, has kept investors happy.

M&G offers steady income

M&G (LSE: MNG) completes the high income trio. The wealth manager currently offers a trailing yield of about 6.9%. The share price slipped 6.8% over the last month but is still up 35% over the past year.

Thursday’s (12 March) annual results were a mixed bag. Operating profit rose just £1m to £838m, but was slightly ahead of expectations. Profit after tax hit £314m following a £347m loss the year before. Net inflows totalled £7.8bn while the Solvency II ratio climbed to a comfortable 242%.

The M&G share price dipped on the day but it bounced back on Friday. It’s now one of the biggest positions in my portfolio, and a stock I hope to hold for years.

I feel a little silly holding three similar stocks but I love those high yields and have diversification elsewhere. Legal & General has been disappointing, but Phoenix and M&G have beaten my expectations. High payouts can be risky but I think all three are worth considering for income-focused investors with a long-term view.