From Zacks:
Honing in on dividend is the best practice during market turbulence. These cash payouts are major sources of consistent income for investors when returns from the equity market are at risk.
Dividend paying stocks are primarily mature companies, which are less susceptible to large swings in the market. Their market leading position, large customer base, sustainable business model, long track of profitability and strong liquidity allow them to offer outsized payouts or sizable yields on a regular basis irrespective of the market direction. As a result, these stocks provide greater stability and more scope for capital appreciation as opposed to those that pay high yields.