There is no right age to start planning for retirement and there is no right to call it quits. No matter where you are in your professional journey, the sooner you start investing for the golden years, the higher your returns. Whether you are a beginner in the stock market industry or have been investing for many years, here are three dividend stocks that will generate steady passive income for you. 

If you are over 50, each day you are moving closer to retirement and this means it is time to shake up your investment portfolio. The companies listed here are dividend aristocrats that have never disappointed investors with cutting dividend payments. With these stalwarts in your portfolio, you will not have to worry about market volatility or a dividend pause. Hold these three stocks for the long term and enjoy regular income in your retirement years. Let’s dive deep into them. 

Chevron (CVX)

Oil and gas giant Chevron (NYSE:CVX) has remained one of my favorite businesses to own for the long term. Let’s agree to the fact that the world runs on oil and while governments may try to cut down the usage of oil, it will take many, many years. Chevron has been around since 1926 and it has shown steady growth over the years. The company enjoys a solid upstream, midstream, and downstream business that generates steady revenue. 

Exchanging hands for $145, the stock is down 2% year-to-date. The company reported impressive numbers when oil prices were soaring but when it comes to Chevron, the company looks stable, no matter where the oil prices go. It has a rock-solid balance sheet that can prosper in any market. Chevron has increased dividends for 37 consecutive years, which is no small feat. Once oil prices recover, we could see the stock move higher. 

If you are a conservative investor, a 4.48% yield is worth holding on to. Investors must understand that the business is impacted by the cyclical ups and downs. Whenever oil prices are high, Chevron will report impressive numbers and whenever oil prices drop, Chevron will see a downturn. The best time to buy this dividend aristocrat is when oil prices are down. Given the current yield and a pullback in oil prices, now is the perfect time to make the move. 

Key Points in this article:

• Here are three retirement stocks that will never disappoint.
• They are excellent businesses with a rock-solid balance sheet that believe in rewarding shareholders.
• Let these dividends generate regular income for you while you enjoy the golden years. Get a free copy of  “7 Things I Demand in a Dividend Stock,” and get recommendations to the best dividend stocks today.

Coca-Cola (KO)

I’ve been pounding the table on Coca-Cola (NYSE: KO) for a while now and I believe it is one of the best dividend stocks to own for retirement. No matter your retirement goals, this business will keep rewarding you each year. Global giant Coca-Cola has generated impressive returns for shareholders. It is trading for $71 right now and is up 19% YTD. The stock has generated 25% returns in the past year. A dividend aristocrat, it enjoys a yield of 2.71% and has increased dividends for 62 consecutive years. 

Coca-Cola is built to last for many generations and to remain relevant, it has consistently expanded its portfolio with several brands. It offers tea, fruit juices, coffee, energy drinks, and sports drinks. Inflation combined with the overall decline in the food service sector has led to a drop in organic sales for the company but it is temporary. As the economy improves, we will see higher consumer spending and Coca-Cola will bounce back. 

The company took cost-cutting measures including price hikes which helped improve the operating margins. In the second quarter, it saw a 3% improvement in net revenue, and the operating margin came in at 21.3%, up from 20.1% the prior year. The EPS dropped 5% to $0.56. I believe Coca-Cola will see an improvement in the final quarter of the year, driven by the holiday season, a Fed rate cut, and improved consumer spending. 

One of Buffett’s favorite investments, he has held on to it for more than 35 years and owns a 9.1% stake. 

Walmart (WMT)

Despite consumers pulling back on their spending, retailer Walmart’s (NYSE: WMT) stock has hit a 52-week high.  Even if you are over 60, you’d have heard of Walmart as a child. Founded in 1962, Walmart’s long-term strategies have paid off and the company has achieved success, despite many market ups and downs. 

Exchanging hands for $79, the stock is up 48% YTD and has impressed investors with steady returns. It enjoys a yield of 1.05% and has increased dividends for 49 consecutive years. The company hasn’t had it easy, it had to fight e-commerce penetration, a pandemic, and inflation. However, it remained relevant, invested in an e-commerce unit, and slashed prices to attract consumers. Today, its e-commerce and advertising segments generate impressive revenue. In the third quarter, it saw a 15% jump in the e-commerce revenue and 5.2% total revenue growth. The company has managed to retain low-income consumers while also capturing high-income consumers. 

Walmart has made capital investments to build Walmart+ and is spending on automation and artificial intelligence to enhance business efficiency. I believe these investments will pay off in the long-term and Walmart will continue to remain a dominant force in the industry. The company is firing on all cylinders and I believe it deserves this. Walmart is an excellent investment and a stock to hold for the next generation. 

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