3 Rock-Solid Dividend Stocks to Buy and Hold for Decades

The best dividend stocks to own are the ones investors don't have to worry about. These are the types of stocks that, due to their stable businesses and strong financials, can be relied on to generate consistent and recurring dividend income for the foreseeable future.

Three stocks that fit that mold and that can be excellent long-term investments to hang on to for decades are AbbVie (NYSE: ABBV), Enbridge (NYSE: ENB), and Coca-Cola (NYSE: KO). This trio of stocks can help diversify a portfolio while also generating tons of dividend income for years to come. Here's why these stocks look like fantastic long-term buys.

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AbbVie

What makes AbbVie special is that the healthcare company is balancing both growth and dividends.

It yields 2.8% and has been growing its dividend for years, giving investors plenty of incentive to just buy and hang on. In the course of five years, it has boosted its quarterly dividend payment by 33%, which averages out to a compounded annual growth rate (CAGR) of approximately 5.9%. While many dividend stocks might make just nominal increases to their payouts, AbbVie has been fairly generous.

The healthcare company has also demonstrated the versatility and growth that investors crave in a stable, long-term investment. While top-selling drug Humira has lost patent protection and revenue has been declining, AbbVie has made up for that with Skyrizi and Rinvoq, which have become key growth drivers for the business. Over the years, AbbVie has expanded via acquisitions and now has a broad business that encompasses neuroscience, oncology, aesthetics, eye care, and immunology drugs.

Last year, AbbVie generated solid year-over-year growth of nearly 9%, with double-digit growth coming from its immunology and neuroscience drugs. With a well-balanced and diversified business, AbbVie is in an excellent position to grow steadily over the long run and continue to increase its dividend along the way.

Enbridge

Canadian-based pipeline giant Enbridge is another excellent dividend stock that's made routine increases to its payout. It has raised its dividend for 31 consecutive years, and it has averaged a CAGR of 9% during that time frame. It's an exceptionally high average, which can be particularly valuable for income investors who want to ensure their dividend income is rising at a faster rate than inflation. Currently, the stock is yielding around 5.1%.

Enbridge's steady and predictable earnings growth is what makes the business appealing for long-term investors. Since it's transporting oil rather than drilling for it, it isn't going to be vulnerable to wild swings in oil prices and is a much more stable option than other oil and gas stocks. That has enabled the business to continually raise its payout over such a long stretch, and why it can be a dependable investment to hang on to over the long term. This is highlighted by the fact that in 2025, it achieved its financial guidance for a 20th consecutive year.

Coca-Cola

A dividend stock that screams growth and stability is Coca-Cola. Its products have remained in consistently high demand for years, with its brand being a highly recognizable one among consumers. That brand strength and loyalty can enable Coca-Cola to continue generating strong numbers for years to come. While its growth may be minimal these days, the business is highly profitable, reporting net income of $13.1 billion last year on revenue of $47.9 billion, translating into a profit margin of 27%.

Earlier this year, the beverage company announced it was increasing its dividend for an incredible 64th consecutive year. Even among dividend growth stocks, Coca-Cola is one of the better ones out there, not only for its streak but for its generous increases. This most recent increase represented a 4% bump in its payout. At 2.5%, the stock's current yield is more than double the S&P 500 average of around just 1.1%.

David Jagielski, CPA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends AbbVie and Enbridge. The Motley Fool has a disclosure policy.