Interest rates of 0.5% aren’t going to make anyone rich — that’s why an increasing number of investors are turning to dividend stocks to bolster income.
However, with most investors following the same line of thought, buying shares for income, dividend yields have been depressed. As a result, it’s becoming hard to build a dividend portfolio with an attractive yield and suitable level of income.Â
But there are opportunities out there. Here are five companies that all support a dividend yield of more than 5%.Â
Political pressure  
SSEÂ (LSE: SSE), like all utilities, has attracted a significant amount of negative press over the past 12Â months.Â
Still, it’s hard to pass up SSE’s attractive dividend yield, which at present levels stands at 5.8%. Management has committed SSE to inflation-linked dividend payout increase for the next few years, so current predictions indicate that the company will support a yield of 6.1% during 2016. The payout is covered around one-and-a-half times by earnings per share.
To help fund the dividend payout, management has decided to sell off a selection of SSE’s non-core businesses. Additionally, the group has frozen household electricity and gas prices in Great Britain until at least January 2016, which should help boost customer numbers.Â
Lifetime savingsÂ
Life insurer and savings provider, Legal & General (LSE: LGEN) currently offers a dividend yield of 4.5%, which is below my 5% threshold. However, City analysts are currently expecting the financial services company to hike its payout by 13% next year, pushing the dividend yield up to 5.1%. It’s expected that this dividend payout will be covered one-and-a-half times by earnings per share.Â
What’s more, along with a 13% hike in the full-year dividend payout, City forecasts indicate that Legal & General’s earnings per share will rise at a rate of 10% per annum for the next two years. So, not only does the company support an attractive dividend yield but it is also growing steadily.Â
Affordable housingÂ
Taylor Wimpey (LSE: TW) is one of the UK’s largest housebuilders, and thanks to the UK’s booming property market, the company is now a solid income stock.Â
Taylor’s management intends to return ÂŁ250m, or around 7.7p per share to investors during 2015. After taking in to account this cash return current figures suggest that Taylor’s shares will support a dividend yield of 7% during 2015, nearly double the FTSE 100 average of around 3.8%.
As well as this attractive dividend yield, the company only trades at a lowly forward P/E of 8. And for growth investors, Taylor’s earnings per share are expected to rise 33% next year, which means that the company trades at a PEG ratio of 0.2, indicating growth at a reasonable price.Â
Excess capital 
Motor insurer Admiral Group (LSE: ADM) has become a dividend champion over the past few years and according to forecasts, this is set to continue. In particular, the City is forecasting that Admiral will support a dividend yield of 7.3% next year.Â
Unfortunately, some analysts have started to question the sustainability of Admiral’s payout. The company had to tap reserve funds to pay the dividend in full this year as income from operations fell short of expectations. What really shocked analysts was the fact that the company then decided to borrow ÂŁ200m in bonds to boost its capital position. Analysts have interpreted the bond issue as a sign that the insurer cannot afford the hefty dividend payout.Â
Nevertheless, Admiral’s management has stated that the dividend is safe for the time being, as low rates within the reinsurance market are helping keep the company’s costs down.
Troubled retailer
Embattled high street retailer, Debenhams (LSE: DEB) may seem like an attractive income investment but the company’s current dividend yield of 5.3% is hard to ignore. That said, City analysts have pencilled in a small dividend cut next year, a reduction of around 10p is on the cards, although the company will still offer a yield of 4.9%. The payout will be covered at least twice by earnings per share.Â
Recent declines have left Debenhams’ shares trading at a forward P/E ratio of 9 and despite issuing a profit warning last year, City analysts believe that the companyâs trading performance has picked up over the summer months.