Someone recently recommended that I put money in high dividend stocks instead of interest bearing investments.

What are the pros and cons each?

PM investor relations. he is good.

Depends on your tolerance of risk and the purpose of this particular investment.

Exactly. Stocks may lose value, so you could end up losing everything. On the other hand, CDs have lower rates and tend to be fixed even if interest rates so go up, so if you do go with CDs you should try to get ones whose terms are less than a year.

Define "interest bearing investments". Ultimately you have to compare the expected return on investment, risk factor, and tax considerations of each, because that it what it boils down to.

Risk is the key word here. The risk element is what closes gap between the higher yielding stocks and the lower yielding bonds. If you are familiar with the markets and these stocks then the risk is somewhat smaller, but if you arent familiar with them than the risk is substantially greater. All things being equal you could get a substantially higher yield in stocks than in bonds, money markets etc... But they rarely are equal. You will have fluctuations in the stock price that will affect your principal which doesnt happen with bonds, unless you dont plan on holding 'till maturity, but thats another ball game.
Some bonds are tax exempt, but their yields are lower than the standard notes and bonds. Dividends from stocks are only taxed at 15% (in most cases). you could go back and forth all day with this.

Learn about the different types of investments and make your own decisions.
Reading a book about basic investing is a great way to get started.

If you're in the highest tax bracket and are looking for a super-low risk investment....buy 1st class postage stamps (not the type that has a dollar amount on them, the ones that say "first class" on it)

It's tax free, there are no fees and it keeps up with inflation, that's better then treasury bonds

Treasury bonds net you 4.5% -35% tax -3% inflation leaves you with a negative return.