3 Unstoppable Dividend King Stocks to Buy Right Now for Less Than $550

Dividend Kings are ultra-reliable dividend stocks. They've increased their dividend each year for at least half a century. They have a proven ability to continue paying dividends during the deepest economic downturns.

Here are three unstoppable Dividend Kings you can buy right now for less than $550.

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Johnson & Johnson

Johnson & Johnson (NYSE: JNJ) increased its dividend by another 3.1% last month, extending its growth streak to 64 years in a row. The healthcare giant currently offers a 2.3% yield at its recent share price of around $225. That's more than double the S&P 500's current dividend yield (around 1.1%).

Johnson & Johnson has one of the world's healthiest dividends. The innovative medicine and medical technology company has a pristine AAA credit rating, tying it for the best in the world. The company ended the first quarter with $22.1 billion in cash on its balance sheet and $55 billion in debt. That's an ultra-low net debt level for a company with a market capitalization of more than $500 billion. Johnson & Johnson also generates robust free cash flow ($20 billion last year), which more than covers its dividend ($12.4 billion paid last year).

The healthcare behemoth generates strong free cash flow even though it's a leader in investing in research and development (nearly $15 billion last year). The company's R&D spending, along with strategic acquisitions ($3.1 billion for Halda Therapeutics and $14.6 billion for Intra-Cellular Therapies in 2025), support its continued growth. It's targeting to deliver 5% to 7% compound annual sales growth through 2030, supporting continue dividend increases.

Procter & Gamble

Procter & Gamble (NYSE: PG) is a dividend stalwart. The leading global consumer products company has paid dividends for 136 consecutive years. It has one of the longest dividend growth streaks in the world, having extended it to 70 years in a row last month. Its payout now yields 2.9% at its sub-$150 stock price.

The maker of household staples such as paper towels, razors, and diapers generates durable cash flow. It expects to produce about $20 billion in operating cash flow this year, more than enough to cover its $10 billion annual dividend outlay and $5 billion in planned share repurchases. That will leave it with up to $5 billion to invest in growing the business while maintaining its elite balance sheet.

Procter & Gamble is more of a defensive play than a growth story. The company only expects to deliver 1% to 5% sales growth this year and a 0% to 4% increase in profitability, due to competitive headwinds. However, with ample dividend coverage and a durable business that should continue to slowly grow, Procter & Gamble offers investors a bankable dividend that should keep rising.

PepsiCo

PepsiCo (NASDAQ: PEP) delivered a 4% dividend increase earlier this year. The beverage and snacking giant has now raised its dividend for 54 consecutive years. It currently offers a 3.7% yield at its recent share price of around $155.

The company generates over $12 billion in cash flow from operating activities each year. It aims to return about $8.9 billion in cash to shareholders this year, split between dividends ($7.9 billion) and share repurchases. PepsiCo retains the remaining funds to invest in its business. The company also has a strong balance sheet, which it uses to make strategic investments (Poppi, Siete, and Celsius in 2025).

Pepsi expects its organic investments to deliver mid-single digit revenue growth over the long term. Rising revenue, along with margin expansion initiatives, should support high-single-digit earnings-per-share growth. That should provide the beverage giant with plenty of pop to continue increasing its dividend.

Unstoppable dividends stocks

Johnson & Johnson, Procter & Gamble, and PepsiCo have increased their dividends every year for more than five decades. Their dividends have proven unstoppable during recessions, which makes them ideal dividend stocks to buy and hold for the long haul. You can buy all three for less than $550 right now, adding bankable dividends you can collect for a lifetime.

Matt DiLallo has positions in Johnson & Johnson and PepsiCo. The Motley Fool has positions in and recommends Celsius Holdings. The Motley Fool recommends Johnson & Johnson. The Motley Fool has a disclosure policy.