2 Rock-Solid Dividend Stocks to Buy in September Even as Oil Surges Past $100 Per Barrel.

Source The Motley Fool

Key Points

  • Coca-Cola boosted its dividend for a 64th straight year and offers a 2.40% forward dividend yield.

  • P&G has raised its dividend for 70 consecutive years and currently pays a 2.97% forward yield.

  • 10 stocks we like better than Coca-Cola ›

Oil prices have been climbing back toward $100 per barrel in September, adding pressure on packaging, shipping, and other transportation costs. Higher prices at the pump also squeeze household budgets, and that can weigh on demand even for consumer staples.

That's exactly why Coca-Cola (NYSE: KO) and Procter & Gamble (NYSE: PG) stand out right now. In a choppy consumer spending environment, they're among the most reliable dividend stocks you can own. Both companies have raised their dividends for more than half a century, backed by resilient brands that can drive steady sales and profits in almost any economy.

Missed AI’s "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we’re only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »

Coca-Cola logo on a red background.

Image source: The Motley Fool.

1. Coca-Cola

Coca-Cola owns a massive beverage portfolio with dozens of brands spanning sparkling drinks, water, sports drinks, juices, coffee, tea, and more. It's also a consistently profitable business, generating $14 billion in net income on $50 billion of revenue over the past year. These brand advantages have helped fuel 64 consecutive years of dividend growth.

The company pays a quarterly dividend of $0.53, or $2.12 annualized. That's a 2.40% forward yield at the recent $88 share price as of Sept. 18, 2026, and the dividend is well covered, with a payout ratio of 62% over the past year.

Analysts expect the company's earnings to grow about 7% annually, which should support further dividend increases. Even in a challenging economy, the company consistently grows unit case volumes, posting a 5% year-over-year increase in the second quarter. That translated to a 6% increase in organic revenue, with strong margin performance lifting comparable earnings 11% over the year-ago quarter.

Coca-Cola's competitive moat is brand power, backed by marketing execution. It received more than 9 billion digital and social media views during the 2026 World Cup, underscoring its reach. That's part of an "all-weather" strategy designed to keep sales growing across economic cycles.

Even with higher gas prices pressuring consumer spending, people still consume more than 2.2 billion servings of the company's products every day. Coca-Cola has weathered numerous recessions and still raised its dividend, which is why it remains a rock-solid dividend stock to buy and hold for the long term.

2. Procter & Gamble

Procter & Gamble is another top consumer staple, offering everyday essentials people buy year-round. Its portfolio includes Tide, Pampers, Gillette, Oral-B, and other recognizable brands that collectively generate $16 billion in net income on $87 billion of annual sales. It has paid a growing dividend for 70 consecutive years.

P&G's quarterly dividend is $1.0885, or $4.35 annualized. That's a forward yield of about 2.97% at the recent share price of about $146. A 64% payout ratio leaves room to sustain the dividend and continue growing it, even in a weak earnings year.

In the recent quarter, the company reported flat non-GAAP sales (excluding foreign currency changes) over the year-ago quarter. Higher energy costs are pressuring profitability, with adjusted earnings down 3% year over year in the fiscal fourth quarter ending in June. Even with higher energy costs, management believes improved execution can lift performance, especially as pricing and productivity initiatives continue to flow through results.

At the Barclays conference on Sept. 10, 2026, P&G's CFO Andre Schulten said the company is changing "every piece of wiring under the hood." The company is integrating artificial intelligence (AI) into product innovation while adding more automation across the supply chain. This could strengthen margins, supporting earnings and dividend growth over the next several years.

P&G is still running the same playbook it has used for decades: Understand consumer needs, then invest in better-performing products people use daily. Analysts expect earnings to grow at an annualized rate of 5% over the long term, which should also translate to comparable dividend growth. With a deep bench of household brands that tend to sell in any economy, P&G remains a reliable dividend stock for long-term investors.

Should you buy stock in Coca-Cola right now?

Before you buy stock in Coca-Cola, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Coca-Cola wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

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*Stock Advisor returns as of September 22, 2026.

John Ballard has no position in any of the stocks mentioned. The Motley Fool recommends Barclays Plc. The Motley Fool has a disclosure policy.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
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