The publication churned out a list of the top dividend stocks to hold during a recession after pointing out that dividend stocks have historically declined less than the broad market during periods of economic downturn. While dividend payouts can be suspended or slashed during recessions, it was noted that even in the sharpest and deepest recession in modern history, S&P 500 dividends only fell by 3%. Johnson & Johnson (JNJ), Coca-Cola (KO), Colgate-Palmolive (NYSE:CL), Apple (AAPL), Costco Wholesale (COST), JPMorgan Chase (JPM), Nike (NKE), Procter & Gamble (PG), and PepsiCo (PEP) are mentioned as some of the dividend elite. Watsco (NYSE:WSO) also gets attention this week as a stock that looks attractive on a valuation basis. The air conditioning distributor is called a stable business that features consistent earnings and sales, and should be attractive to investors looking to play defense while benefiting from the heat. Watsco (WSO) trades at 17.8X estimated 2023 earnings per share, which is a 14% premium to the 15.6X multiple of the S&P 500 Index, but Watsco is observed to be growing faster than most companies and usually trades at a premium of almost 50% to its five-year average.