Dividend investors are paid to be patient, but right now, that patience is being tested.
Reliable blue-chip dividend payers in industries such as consumer products and fast food have lagged while tech stocks continue to propel the S&P 500.
But dividend stocks have a role when it comes to creating income regardless of market price performance. In particular, companies with long histories of paying and boosting dividends, throughout every type of market and economic cycle, may be worth considering for investors seeking income.
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Here are seven widely owned blue-chip dividend stocks that have raised their shareholder payouts for decades:
| Blue-Chip Dividend Stock | Forward Dividend Yield | P/E Ratio* |
| Procter & Gamble Co. (ticker: PG) | 2.9% | 21 |
| Johnson & Johnson (JNJ) | 2.1% | 30 |
| Coca-Cola Co. (KO) | 2.6% | 26 |
| Chevron Corp. (CVX) | 3.7% | 34 |
| Altria Group Inc. (MO) | 5.9% | 15 |
| McDonald’s Corp. (MCD) | 2.8% | 22 |
| PepsiCo Inc. (PEP) | 4.4% | 17 |
*Trailing-12-month price-to-earnings ratio, as of June 30.
Procter & Gamble Co. (PG)
This consumer products maker has a 70-year history of increasing its dividend. Its 12-month trailing yield is 2.9% on a quarterly dividend of $1.09. Earnings grew 4% in 2025, to $6.83 per share on sales of $84.3 billion, essentially flat year over year.
This is one of those stocks that investors hold because of its reliability; brands like Pampers, Tide, Crest and Gillette typically hold up even in poor economic conditions, as people are going to continue doing laundry, cleaning their houses and taking care of personal grooming.
“Procter & Gamble has been benefiting from a durable brand portfolio and disciplined execution,” wrote analysts from Zacks Equity Research in a June 29 report.
There are potential downsides, however. Zacks notes that Procter & Gamble shares recently underperformed industry rivals such as Colgate-Palmolive Co. (CL) and Kimberly-Clark Corp. (KMB), due to factors such as the company’s own spending in an inflationary environment.
Johnson & Johnson (JNJ)
With a forward dividend yield of 2.1% and solid growth estimates for the next two years, Johnson & Johnson is a staple for many income investors.
“JNJ is a core holding I added to client dividend portfolios about three years ago, and it has been one of the more rewarding decisions in that sleeve, with the stock appreciating more than 50% over that stretch,” says Richard Siminou, founder of Siminou Wealth Management in New York.
“What kept us in it the whole way is the quality underneath the price,” he adds. “In April, JNJ raised its dividend for the 64th consecutive year, lifting the quarterly payout to $1.34 per share.”
That track record puts the stock in the ranks of Dividend Kings, which have a history of boosting their dividends for 50 years or more. Siminou notes that Johnson & Johnson carries one of the few stellar AAA credit ratings from bond raters such as Moody’s and S&P Global Ratings. Microsoft Corp. (MSFT) is another company in that category.
He adds that Johnson & Johnson’s payout ratio has also improved meaningfully over the past year, which indicates the dividend has plenty of room to grow.
“For income clients who want healthcare exposure without betting on any single drug pipeline, JNJ remains the standard,” Siminou says.
Coca-Cola Co. (KO)
As with other blue chips, institutional ownership of Coca-Cola holds steady year in and year out. Institutional investors aren’t dumping shares, but there’s not a lot of new ownership coming in, either.
That stability reflects Coca-Cola’s history as a dependable defensive stock, rather than a high-growth portfolio addition.
“Coca-Cola is one of Warren Buffett’s favorite stocks and has long been one of Berkshire Hathaway’s largest holdings,” says Robert Johnson, professor of finance at the Heider College of Business at Creighton University in Omaha, Nebraska. “He first started buying KO in the late 1980s. He likes KO so much that Berkshire Hathaway owns 9.3% of the company, and it represents 9.2% of the marketable securities portfolio at Berkshire.”
Coca-Cola has a current dividend yield of 2.6% on a quarterly payout of 53 cents per share. The company has increased its dividend for 64 consecutive years, a testament to its ability to command pricing power due to its brand recognition and other strengths, such as what Johnson calls a “massive logistical system that ensures products are readily available at virtually any retail point globally.”
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Chevron Corp. (CVX)
Chevron has a 39-year history of boosting its dividend. The company last increased its dividend in March 2026, extending that streak. Its current trailing-12-month yield is 3.7% and the annual payout is $6.98 a share.
Chevron has been correcting since late March, which could allow investors to get in at a lower price before the next rally. It regained its 200-day moving average on July 7, “which is the kind of technical behavior I want to see before adding to a position,” Siminou says.
The stock is up roughly 30% year to date, despite the current correction.
“Fundamentally, the setup has improved as well. Chevron is expanding production agreements in Iraq and exploring a pipeline that would bypass the Strait of Hormuz, moves that position the company to benefit from the current geopolitical environment rather than simply be exposed to it,” he adds.
Analysts’ consensus estimate on the stock is a “moderate buy,” with a price target of $206.63, a potential upside of about 7% in the next 12 to 18 months.
Altria Group Inc. (MO)
If smoking is on the decline in Altria’s market, the U.S., how is the tobacco company, spun out of Philip Morris International Inc. (PM) in 2008, continuing to grow earnings?
For starters, Altria, whose brands include Marlboro, Parliament and Virginia Slims, isn’t bothering to recruit new smokers. It does regularly raise prices of Marlboro, the best-selling cigarette in the U.S., capitalizing on strong brand loyalty.
Of course, the growth bets have been vaping and dissolvable nicotine products, but those have underperformed relative to expectations.
“Altria is having a strong 2026,” says Vince Stanzione, CEO of First Information, which publishes derivatives-trading educational materials. Up 29% year to date while paying a forward yield of 5.9%, the company still offers good value on a forward price-to-earnings ratio of 12.
Altria has a 56-year history of increasing its dividend. That happened as a result of the split from Philip Morris; owners of Altria got shares of both companies. Altria’s dividend decreased but shareholders also got a payout from Philip Morris. Together, that meant shareholders earned more, keeping the dividend streak intact.
That streak is the attraction for investors who want reliable income; you won’t find many investors who expect growth from this stock.
McDonald’s Corp. (MCD)
The fast-food giant’s stock price has been languishing, although investors shouldn’t be expecting supersized gains; Mickey D’s is another stock whose steady dividend is the story. The company has increased its payout for 49 years in a row. Its forward yield is 2.8% on a quarterly dividend of $1.86.
Alex Fasciano, an analyst at CFRA Research, wrote in a July 11 report that he considers McDonald’s shares to be undervalued. “MCD possesses industry-leading operating margins (mid-40% range), unmatched global scale with $140 billion in systemwide sales and a fortress balance sheet supporting nearly 50 years of consecutive dividend growth,” he wrote.
Fasciano noted that risks include concerns about consumer spending, particularly among lower-income households. “Guest counts have been volatile, and sustaining traffic growth requires promotional intensity that may pressure margins,” he adds.
His 12-month price target is $317, a potential upside of about 20.5% as of July 23.
PepsiCo Inc. (PEP)
Shares of the food and beverage maker have lost their fizz, skidding 3.5% year to date. That’s underperforming the broader S&P consumer staples sector, which is up about 8% this year.
With a trailing dividend yield of 4.2% and a 54-year record of increasing its payout to shareholders, the company has a solid base of institutional ownership. The company most recently raised its dividend in February. For the second quarter, PepsiCo beat sales estimates. Revenue grew by 6%, and net income grew by 4%.
However, according to analysts Taylor Conrad and Charlie Searby at Argus Research, writing in a July 10 report, “We are concerned about consumer sentiment and cautious spending impacting Pepsi’s sales, as well as impact on margins from higher costs and lower realized prices in certain segments.”
They noted that they have a positive view of prospects for volume growth through price reductions, but consider the stock to be a “hold” at this time, although the company’s “digital operations, efficient distribution, strong brands and improved supply chain are all causes for optimism” over the long haul.
“On the positive side, we like its better-for-you portfolio, which taps into the health-conscious market with more nutritious products, capitalizing on the growing trend,” Conrad and Searby wrote.
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7 Best Blue-Chip Dividend Stocks to Buy in 2026 originally appeared on usnews.com
Update 07/23/26: This story was published at an earlier date and has been updated with new information.
