by Ian Cooper
Some of the best stocks to buy and hold forever are Dividend Kings.
These are the reputable giants of the market that’ll pay you hold their stocks. So, not only do you get safety, but you can collect some extra income along the way. Even better, the Kings have a 50+ year history of raising their payouts.
Some of the top ones to consider include:
Genuine Parts (GPC)
Look at Genuine Parts (GPC), for example.
With a current yield of 2.76%, GPC recently raised its dividend to 95 cents in August. We expect to hear about a new dividend payout in November 2023. It also has a long history of navigating economic issues, and has a strong 67-year record of dividend payouts.
Granted, earnings were nothing to write home about in the third quarter, but it’s still one of the top stocks to buy and hold forever.
Plus, as noted by Seeking Alpha, “GPC is a boring, conservative dividend stock that is perfect for investors looking for dividend growth and potential capital appreciation. Automotive stocks like GPC are often overlooked but I believe they can be hedges against downturns. People will always need their automobiles and the parts associated with them.”
Procter & Gamble (PG)
Another boring, but very safe dividend stock to buy and hold forever is Procter & Gamble (PG). With a yield of about 2.5%, the company recently announced a quarterly dividend of $0.9407 per share. P&G has been paying a dividend for 133 consecutive years since the company’s incorporation in 1890 and has increased the dividend for 67 consecutive years.
Earnings are still solid here, too. Its Q1 EPS of $1.83 beat by 11 cents. Revenue – up 6.1% year over year beat by $290 million.
“We delivered very strong results in the first quarter of fiscal year 2024, putting us on track to deliver towards the higher end of our fiscal year guidance ranges for organic sales and core EPS growth,” said Jon Moeller, Chairman of the Board, President and Chief Executive Officer.
When the economy goes down the toilet, remember that millions of people still need to eat, brush their teeth, go to the doctor, use the bathroom, heat their homes, pay for utilities, and in some cases, buy alcohol to make life less stressful. That includes must-have companies like Colgate-Palmolive (CL), which provides things such as oral care, personal care, home care, and pet care products we can’t live without.
With a yield of 2.53%, the company recently declared a quarterly dividend of 48 cents a share. The company has paid uninterrupted dividends on its common stock since 1895.
With earnings, Noel Wallace, Chairman, President and Chief Executive Officer, just said, “We are very pleased to have delivered another quarter of strong top and bottom line growth. Net sales increased 10.5% and organic sales grew 9.0% with volume improving sequentially versus second quarter 2023. Gross profit margin, operating profit margin, operating profit, net income, earnings per share and free cash flow all increased versus the year ago quarter.