GOLDMAN: Here are 14 great stocks with fat dividends and huge buyback plans

Companies are sitting on record piles of cash, and that's good news for investors in certain companies.

According to David Kostin at Goldman Sachs, S&P 500 companies will spend $2.2 trillion in excess cash in 2016 and 46% of that will be returned to shareholders in the form of dividends or buybacks.

Additionally, the stocks of companies returning large amounts of cash to shareholders have done well over the past few years.

"Investing in companies returning cash to shareholders via a combination of buybacks and dividends has proven to be an effective long-term strategy relative to the market and other uses of cash," wrote Kostin. "Since 1991, a sector-neutral basket of the S&P 500 stocks with the highest trailing combined dividend and buyback yields has returned an annualized 15.7% versus 13.8% for the top capex + R&D spenders and 12.8% for S&P 500."

To help capture this trend, Goldman has assembled a list of the 50 top stocks for shareholder cash returns called the Total Cash Return basket.

We've compiled the top 14 stocks returning more than 12% yield to their investors. Each stock also includes the breakdown of returns from buybacks and dividends, as well as a comment on the returns from the company's most recent earnings call.

Check out the companies dumping cash to investors below.