The Next Generation of Dividend Kings: 3 Stocks to Watch

As far as dividend stocks go, you cannot do better than Dividend Kings.

These are companies that have raised their dividends for at least 50 consecutive years. Think about the sustained success it takes to continually pay shareholders more cash from the business year in and year out.

That achievement is especially difficult in the energy sector, where commodity prices can fluctuate, upending a business model-sometimes seemingly overnight.

But there is a crop of world-class dividend stocks approaching their 50th consecutive dividend increase. Keep an eye on these next-generation Dividend Kings for your portfolio.

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1. ExxonMobil: 44 years and counting

Integrated oil and gas major ExxonMobil (NYSE: XOM) recently announced a dividend hike, its 44th in a row. The new quarterly amount comes to $4.28 per share, yielding about 2.3% at the stock's current share price. As profits pile up following ExxonMobil's strong Q3 earnings, the dividend should continue to march higher.

The company generated a whopping $19.1 billion in free cash flow in the third quarter of 2026 and paid out only $4.3 billion in dividends to shareholders. ExxonMobil's break-even price for a barrel of Brent crude oil is only about $35 or so, which means the business is minting money with oil trading at over $110 per barrel.

Oil prices will probably drop at some point, but ExxonMobil should handle it, just as it has time and time again. The company has endured low oil prices brought on by recessions and a global pandemic over the past four decades.

2. Atmos Energy: a utility stock flying under the radar

It's easy for investors to overlook utility stocks, such as Atmos Energy (NYSE: ATO), a prominent natural gas utility serving over 3.3 million customers in the southern United States. Unless you're buying gas from this company, you probably have never heard of it.

Atomos Energy has been at it for a long time. The company has paid and raised its dividend for an impressive 42 consecutive years. It makes money from gas distribution and consumption, creating stable revenue streams because people generally don't turn off their heat in winter or stop using their stove.

The financials are clean and point to continued dividend increases down the road. The dividend currently consumes just under half of Atmos Energy's estimated 2026 earnings, and analysts expect the business to grow earnings by an average of about 7% annually over the next three to five years. That could enable management to knock on the door of Dividend King status while maintaining that healthy payout ratio.

3. Chevron: a high-yield oil stock you can count on

Another leading integrated oil and gas giant, Chevron Corporation (NYSE: CVX) has the longest road ahead to becoming a Dividend King. It recently announced another dividend hike, for the 39th year in a row. On the flip side, Chevron stock offers the highest yield at its current price, just over 3%.

Like ExxonMobil, Chevron's business is thriving thanks in large part to higher oil prices. The company generated $14.2 billion in adjusted free cash flow in the third quarter of 2026, paying out roughly $3.5 billion in dividends to shareholders. Management has opted to tidy up its balance sheet, paying down billions of dollars in debt over the past couple of quarters.

That only solidifies Chevron as a dependable dividend stock, as its balance sheet is crucial to preserving the dividend when commodity prices fall and profits decline. Meanwhile, Chevron anticipates long-term growth from its stakes in Guyana's offshore fields and the Permian Basin. Chevron shouldn't have any issue reaching its 50th consecutive dividend hike, and investors get solid, immediate dividend income from owning shares.

Justin Pope has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Chevron. The Motley Fool has a disclosure policy.