When the markets tank, it’s a good time to spot bargains. According to MoneySense contributor Norm Rothery, certain dividend-paying stocks are currently on sale.

Blue-Chip dividend paying stocks tend to be more stable over the long term with good growth prospects. Their prices often get lower during a downturn, which makes them attractive as part of a buy-and-hold strategy.

Rothery cautions investors to stay away from any stock with an unusually high dividend yield.

And as always, remember that, like every other investment, they are not risk-free.