3 Rock-Solid Dividend Kings That Have Raised Their Dividend Payments for Over 60 Years

Paying dividends consistently is a challenge for many companies, and what's even tougher is raising those payments every year. That's why stocks with impressive dividend streaks are compelling options for investors. The past doesn't predict the future, but years of dividend growth can signify a company's resilience and ability to handle varying economic and market challenges.

Three top dividend stocks that are part of the illustrious group of Dividend Kings and that have raised their payouts for more than 60 consecutive years are Coca-Cola (NYSE: KO), Procter & Gamble (NYSE: PG), and American States Water (NYSE: AWR). Here's why they can still be excellent income stocks to buy and hold in 2026.

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Coca-Cola

Back in February, beverage giant Coca-Cola announced it would be raising its dividend for the 64th consecutive year, boosting the quarterly payout from 51 cents to 53 cents. On an annualized basis, investors are collecting 2.4% in dividends, which would be higher if not for Coca-Cola's significant 24% rally this year.

Investors have been loading up on this safe-haven stock, pushing it to new highs recently. But for long-term investors seeking a good dividend, this can still be a solid buy-and-hold investment. Coca-Cola's business continues to do well, with its net revenue rising by 7% in its most recent quarter, which ended on July 3.

The simplicity of its business model and strong brand power that Coca-Cola possess are key reasons why billionaire investor Warren Buffett has long been a fan of the stock. While it may not generate significant growth, it can make for a dependable long-term stock holding. And with its payout ratio around just 60%, it's highly likely it will continue raising its dividend in the years ahead. For dividend investors, Coca-Cola can be a no-brainer buy.

Procter & Gamble

A top consumer goods stock to own is Procter & Gamble, which sells a wide range of products that people around the world use daily. The business typically generates only minimal growth, but for dividend investors, that stability and consistency are valuable, as surprises and significant fluctuations can pose risk.

From hair care to oral care to personal care products, Procter & Gamble's diversified business makes it less volatile because it's not highly dependent on one area. It recently wrapped up its 2026 fiscal year, which ended on June 30. Net sales rose by a modest 3% while earnings were flat. There was nothing particularly exciting or worrisome about the business.

In April, it announced it would be raising its dividend yet again, with its streak now sitting at an impressive 70 years, which is even longer than Coca-Cola's. Procter & Gamble has also been paying dividends since 1890. It's currently yielding 3%.

American States Water

The dividend stock with the most impressive track record is American State Water. Last month, the company announced it would raise its dividend by 8.2%, extending its streak to 72 consecutive years of annual increases.

What's even more impressive is how generous the company has been with its rate increases: its policy is to grow dividends by an average of 7% annually, and its recent rate hikes have been well above that. With the increase, the stock pays 2.5% in dividends, yet it still has a manageable payout ratio of around 55%.

The utility stock makes for a reliable long-term investment due to its growing dividend and the stability of its business, which provides customers with essential services. While consumers may cut back on discretionary purchases in tough times, including products sold by Coca-Cola and Procter & Gamble, it's far more difficult to cut back on utilities. That recurring, consistent demand is why utility stocks such as American States Water can be among the best dividend stocks to own.

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