Many investors are mainly looking for stocks that will soar in value. It can be just as effective, though, if not more effective, to seek stock-price appreciation and income. Or just seek mainly income.

Why? Well, soaring stock prices are great, but stocks don't always soar. If you buy them at overvalued prices, they may be more likely to pull back than to advance, at least in the near term. However, healthy and growing dividend payers will tend to keep making those dividend payments regularly -- often while increasing them every year.

Here's one dividend payer to consider for your long-term portfolio: British American Tobacco (NYSE: BTI). Here are some things to know about it:

• It recently sported a fat dividend yield of 8.7%.

• Its payout ratio, the percentage of earnings it pays out in dividends, was recently around 59%, which is a solid result -- suggesting that the dividend is sustainable, with room to grow.

• Its stock appears attractively priced, with a recent forward-looking price-to-earnings (P/E) ratio of 7.3, below the five-year average of 8.1.

• It's investing in smokeless product lines.

• Its brands include Camel, Natural American Spirit, Newport, Lucky Strike, Dunhill, Grizzly, Vuse, glo, and Velo.

• Its business isn't likely to grow quickly, as fewer people in various regions are smoking these days, but it still offers a very attractive dividend.

So, how many shares do you need to buy if you're looking for $1,000 in annual income? Divide that $1,000 by the annual dividend amount of $2.98 per share, and you'll get your answer: about 336 shares.

Give British American Tobacco some consideration if you're looking to generate meaningful income from your stock portfolio. While many dividend payers are likely to see both their stock price and their dividend payout increase significantly over time, this stock won't. But it's offering a dividend yield over 8.5% -- so a $10,000 investment, for example, will kick out more than $850 each year.

Don’t miss this second chance at a potentially lucrative opportunity

Ever feel like you missed the boat in buying the most successful stocks? Then you’ll want to hear this.

On rare occasions, our expert team of analysts issues a “Double Down” stock recommendation for companies that they think are about to pop. If you’re worried you’ve already missed your chance to invest, now is the best time to buy before it’s too late. And the numbers speak for themselves:

• Amazon: if you invested $1,000 when we doubled down in 2010, you’d have $20,803!*

• Apple: if you invested $1,000 when we doubled down in 2008, you’d have $43,654!*

• Netflix: if you invested $1,000 when we doubled down in 2004, you’d have $404,086!*