When the markets are down and stocks are cheap, it is an opportunity to look for high dividend yield stocks. As long as you hold the stock concerned and as long as the company continues to pay dividends at the same rate, your dividend yield is fixed for life, even if the market price of the stock changes subsequently.
Other things being equal, the yield will be higher if you buy stocks at lower price.
Let me make it clear that we are not in a bear market as yet. We are down just 9% from the all-time high mark seen on