Since 1926, dividends have contributed approximately 32% of the total return for the S&P 500, while capital appreciations have contributed 68%. Therefore, sustainable dividend income and capital appreciation potential are essential for total return expectations.

A study from Hartford Funds, in collaboration with Ned Davis Research, found that dividend stocks delivered an annualized return of 9.18% over the past half-century (1973 to 2023). Over the same timeline, this was more than double the annualized return for non-payers (3.95%).

Companies that have raised the dividends shareholders receive for 50 years or longer are the kind of investments that conservative passive income investors need to own. Dependability is necessary for those seeking to bolster their yearly income with dividend stock investments.

The Dividend Kings are the 54 companies in 2025 that have raised their dividends for 50 years, a testament to their dependability and reliability. Those are two “must-have” items for investors who rely on passive income to boost their overall revenue.

Four of our absolute favorites are still priced reasonably, and growth and income investors can buy them at current trading levels, put them in their cash or retirement accounts, and hold them forever. All are rated Buy at top Wall Street firms covered here at 24/7 Wall St.

Why we recommend the Dividend Kings

Companies that have paid and raised their dividends for 50 years and longer are the kind that growth and income investors want to buy and hold in stock portfolios forever. These stocks are mostly conservative, and should we see a dramatic market correction, they will likely hold their ground much better than volatile technology names.

Altria

This tobacco company offers value investors a great entry point and a rich 8.03% dividend. Altria Group Inc. (NYSE: MO) manufactures and sells smokable and oral tobacco products in the United States through its subsidiaries.

The company provides cigarettes primarily under the Marlboro brand, as well as:

• Cigars and pipe tobacco, principally under the Black & Mild brand
• Moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands
• on! Oral nicotine pouches
• e-vapor products under the NJOY ACE brand

It sells its tobacco products primarily to wholesalers, including distributors and large retail organizations, such as chain stores.

Altria used to own over 10% of Anheuser-Busch InBev N.V. (NYSE: BUD), the world’s largest brewer. Earlier this year, the company sold 35 million of its 197 million shares through a global secondary offering. That represents 18% of its holdings but still leaves 8% of the outstanding shares in its back pocket. Altria also announced a $2.4 billion stock repurchase plan partially funded by the sale.

Fortis

This is an off-the-radar utility stock that will benefit big time when interest rates start to come down again later this year. It also pays a dependable 4.10% dividend. Fortis Inc. (NYSE: FTS) operates as an electric and gas utility company in Canada, the United States, and the Caribbean.

It generates, transmits, and distributes electricity to approximately 447,000 retail customers in southeastern Arizona and 103,000 retail customers in Arizona’s Mohave and Santa Cruz counties. Its aggregate capacity is 3,408 megawatts (MW), including 68 MW of solar capacity and 250 MV of wind capacity.

The company also sells wholesale electricity to other entities in the western United States, owns gas-fired and hydroelectric generating capacity totaling 65 MW, and distributes natural gas to approximately 1,087,000 residential, commercial, and industrial customers in British Columbia, Canada.

In addition, it owns and operates the electricity distribution system that serves approximately 592,000 customers in southern and central Alberta; owns four hydroelectric generating facilities with a combined capacity of 225 MW; and provides operation, maintenance, and management services to five hydroelectric generating facilities.

Further, the company distributes electricity in the island portion of Newfoundland and Labrador with an installed generating capacity of 145 MW; and on Prince Edward Island with a generating capacity of 90 MW.

Additionally, it provides integrated electric utility service to:

• Approximately 69,000 customers in Ontario
• Approximately 275,000 customers in Newfoundland and Labrador
• Approximately 34,000 customers on Grand Cayman, Cayman Islands
• Approximately 17,000 customers on certain islands in Turks and Caicos

United Bankshares

Yielding a solid 3.86%, this mid-cap financial offers solid total return potential now. United Bancshares Inc. (NASDAQ: UBSI) primarily provides commercial and retail banking products and services in the United States. It operates through two segments: Community Banking and Mortgage Banking.

The company accepts:

• Checking, savings, and time and money market accounts
• Individual retirement accounts and demand deposits
• Statement and special savings
• NOW accounts

Its loan products include:

• Commercial loans and leases to small to mid-size industrial and commercial companies
• Construction and real estate loans, such as commercial and residential mortgages
• Loans secured by owner-occupied real estate
• Personal, student, and credit card receivables
• Home equity loans.

In addition, the company provides credit cards, safe deposit boxes, wire transfers, and other banking products and services; investment and security services; services to correspondent banks, including buying and selling federal funds; automated teller machine services; and internet and telephone banking services.

Further, it offers community banking services, such as asset management, real property title insurance, financial planning, mortgage banking, brokerage services, and investment management and retirement planning services.

PepsiCo

This top beverage and consumer company will continue to supply all the goods for the March Madness parties and pays a solid 3.60% dividend. PepsiCo Inc. (NYSE: PEP) is a worldwide food and beverage company.

Its Frito-Lay North America segment offers:

• Lays and Ruffles potato chips
• Doritos, Tostitos, and Santitas tortilla chips
• Cheetos cheese-flavored snacks, branded dips
• Fritos corn chips

The company’s Quaker Foods North America segment provides:

• Quaker Oatmeal
• Grits
• Rice cakes
• Natural granola and oat squares
• Pearl Milling mixes and syrups
• Quaker Chewy granola bars
• Cap’n Crunch cereal
• Life cereal
• Rice-A-Roni side dishes

PepsiCo’s North America Beverages segment offers beverage concentrates, fountain syrups, and finished goods under these brands:

• Pepsi
• Gatorade
• Mountain Dew
• Diet Pepsi
• Aquafina
• Diet Mountain Dew
• Tropicana Pure Premium
• Sierra Mist
• Mug brands

Three Dividend Kings to Buy and Hold Forever

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