Pro: Companies That Show A Willingness To Raise Dividends Will 'Resonate With Investors'

Dividend stocks don't necessarily appear as attractive to investors compared to buzz-themed terms such as the "FANG" trade. This, however, doesn't mean that investors should not pursue a strategy of investing in dividend paying names, at least according to Bob Landry, a portfolio manager at USAA.

Landry's portfolio focuses on dividend paying names and he made the case for owning high yielding stocks as a guest on CNBC's "Power Lunch." He suggested that in the current climate of "minimal" economic growth, companies that can show the willingness and ability to pay a growing dividend is going to "resonate with investors."

Landry was asked if his investment approach will change should the Federal Reserve boost interest rates. He answered that he is anticipating a rate hike won't occur before the end of the year at the earliest, and subsequent hikes will be done at a reasonable and measure pace.

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"I think dividend growers can certainly continue to do well in that environment as long as the Fed doesn't aggressively jack up interest rates," he said.

Landry added that one of his favorite dividend paying stocks is CME Group Inc (NASDAQ: CME), as the company should "continue to do well" in a volatile market environment. He noted that while the stock pays a dividend yield of around 2.5 percent, the company has established a record of supplementing the dividend with a special cash dividend which boosts the dividend yield to nearly 5 percent.