3 Relentless Dividend Stocks to Buy in September

eBay (NASDAQ: EBAY), McDonald's (NYSE: MCD), and Constellation Brands (NYSE: STZ) have continued to increase their dividends in recent years despite the consumers they rely on facing economic challenges related to inflation, tariffs, and higher gas prices. That's because these companies serve millions of consumers in e-commerce, fast food, and alcoholic beverages, who rely on their products and services across a range of economic conditions.

Here's why these three dividend growth stocks could be solid additions to an income-focused portfolio in September 2026.

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eBay

Shares of eBay trade up about 19% over the past year, as of Sept. 16, 2026. eBay is not the online garage sale you might remember from 20 years ago. The online marketplace is seeing solid momentum by leaning into the right categories for shoppers and taking the hassle out of listing items for sale for sellers by providing artificial intelligence (AI)-powered tools.

Revenue grew 15% year over year in the second quarter. Millions of buyers still go to eBay for deals, and that demand continues to attract more sellers. Consumer-to-consumer sales, pre-owned, and refurbished items made up over 70% of the company's gross merchandise volume -- the total value of transactions completed on the marketplace -- and grew 26% year over year.

Growth prospects look solid. It just closed the acquisition of Depop, a popular fashion marketplace, which can expand its reach to Gen Z and Millennials. AI-powered tools, such as "magical listing," are reducing the hassle of listing items, making the experience faster and easier, while increasing the number of listings. Other revenue streams from advertising and shipping services can expand margins, supporting higher free cash flow and dividends.

eBay offers a modest forward yield of 1.2% (based on a $0.31 quarterly per-share dividend). Its quarterly payment has grown at a 12% annual rate over the past five years, yet it paid out just 20% of free cash flow over the past year. If eBay meets analysts' expectations for 12% annualized earnings growth in the coming years, the dividend should continue to grow at a similar rate.

McDonald's

McDonald's stock has dipped 17% over the past year, reflecting negative sentiment after a sluggish stretch for comparable-store sales, which rose just 0.8% year over year in the U.S. market in the second quarter.

Even so, this iconic fast-food restaurant brand generates strong free cash flow that supports continued dividend growth. Over the past five years, the dividend has grown at an 7% annualized rate, while the payout ratio as a share of free cash flow has remained manageable at 67%. The lower share price has pushed the forward yield up to an above-average 3% based on a quarterly per-share payment of $1.86, or $7.44 annualized.

McDonald's franchise-heavy model drives high profitability, which underpins the dividend. Adjusted operating margin reached nearly 47% through the first half of 2026. To fuel long-term growth, management is focusing on improving food quality, hospitality, and operating efficiency.

This is a powerful global brand with nearly 220 million active loyalty users. McDonald's is aiming for 50,000 locations worldwide by 2028, which could translate into higher profits and dividends for shareholders.

Constellation Brands

Shares of Constellation Brands trade down 55% from their 2024 highs. Constellation is the exclusive U.S. importer and distributor of leading Mexican beer brands, including Corona, Modelo, and Pacifico. Demand has been soft amid a sluggish industry backdrop. In fiscal first-quarter 2027, Constellation's beer segment -- generating over 90% of total sales -- delivered low single-digit growth in sales and shipment volume.

But the lower share price makes the yield very compelling. The company paid out only 38% of free cash flow over the past year, leaving plenty of room to increase it even in a weak-demand environment. Even with a low payout, the stock offers a forward yield at 3.38% based on a quarterly payment of $1.03 per share, or $4.12 annualized.

The dividend has grown at a 6% annual rate over the past five years, and investors can expect more growth over the long term. Last quarter, Modelo Especial remained the No. 1 brand in dollar sales, while Corona Extra held a top-five position in market share.

Grand View Research expects the U.S. beer market to grow about 6% annually from 2025 to 2030, which should support Constellation's long-term growth. Buying shares in this top beer stock, while it's offering a high yield, could be a rewarding investment.

John Ballard has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends eBay. The Motley Fool recommends Constellation Brands and recommends the following options: long January 2028 $320 calls on McDonald's and short January 2028 $340 calls on McDonald's. The Motley Fool has a disclosure policy.