Three Decades-Long Dividend Kings Keep Their Promises

Three top dividend stocks have stood the test of time by consistently raising their payouts for over 60 years.

Coca-Cola (NYSE: KO), Procter & Gamble (NYSE: PG), and American States Water (NYSE: AWR) are known as Dividend Kings, a title reserved for companies that have increased their dividend payments every year for at least six decades.

Coca-Cola has raised its dividend for 64 consecutive years, with the latest increase taking effect in February. The company's quarterly payout rose from 51 cents to 53 cents, resulting in an annualized dividend of 2.4%.

The beverage giant has seen its net revenue rise by 7% in its most recent quarter, and its business model is simple yet strong, thanks to its iconic brand power. Warren Buffett, a long-time fan of Coca-Cola, has invested heavily in the stock due to its dependable nature.

Procter & Gamble (PG) also made the list, with its 70-year dividend-raising streak coming to an end at 72 years when it announced another increase in April. The company's diversified product line, including hair care and oral care products, makes it less volatile than other companies.

American States Water boasts the most impressive track record of the three, with a 72-year dividend-raising streak that began in 1950. Last month, the company announced an 8.2% increase in its dividend, bringing the payout to 2.5%. The utility stock's manageable payout ratio of around 55% ensures that it will continue raising its dividend payments.