The challenge for income investors is both frustrating and familiar: Interest rates are lodged near historic lows, and dividend stocks have soared to even higher highs. But just as our income Roundtable members did a year ago, our current panelists bring fresh approaches to locking in returns in a world where rates are likely to stay lower for longer.

While they identify opportunities for safe yields above 5%—not an easy task when the 10-year Treasury rate is just 1.6%—much of their advice is focused on how investors can...