The notion of “set and forget” investing is, frankly, a bit optimistic. The universe, as anyone who’s ever tried to return a faulty toaster can attest, is rarely so accommodating. Companies change, markets wobble, and occasionally, entire economic paradigms spontaneously disassemble. But, and this is a rather large ‘but’, there are a few entities that appear to have negotiated a temporary truce with the forces of chaos. If one is seeking decades of passive income – a concept that, when you think about it, borders on the thermodynamically impossible – these might be worth a look. (Of course, ‘worth a look’ is a relative term. Compared to, say, attempting to build a working time machine out of biscuit tins, they’re significantly less ambitious. But ambition, as history repeatedly demonstrates, is often just a prelude to disappointment.)
1. AbbVie
AbbVie (ABBV 0.31%) has been distributing dividends for 54 consecutive years, a streak that began when it was still part of Abbott Labs (ABT 1.47%). This puts them in the rather exclusive club known as Dividend Kings – a title that sounds suspiciously regal for a bunch of accountants. To qualify, a company must have increased its dividend payout for at least half a century. (It’s a bit like a particularly stubborn weed; it just refuses to stop growing. Though, admittedly, a dividend payout is generally more desirable than a patch of bindweed.)
Since spinning off from Abbott in 2013, AbbVie has increased its dividend by a rather astonishing 333%. Its current forward dividend yield is a respectable 3.1%. (Which, if you extrapolate it over several millennia, could theoretically fund a small interstellar empire. Assuming, of course, that interstellar empires accept dividends.)
AbbVie, like many pharmaceutical companies before it, has faced the dreaded “patent cliff”. Specifically, its blockbuster drug Humira began facing biosimilar competition in the U.S. in late 2023. (The term ‘cliff’ is a bit dramatic, really. It was more of a gentle slope, albeit one covered in legal paperwork.) However, AbbVie has managed to navigate this challenge, demonstrating robust sales growth despite the declining fortunes of Humira. This was achieved through internal research, strategic acquisitions, and, quite possibly, a pact with a particularly benevolent algorithm.
2. The Coca-Cola Company
The Coca-Cola Company (KO 0.09%) has been handing out dividends even longer than AbbVie. This beverage behemoth has increased its dividend for 63 consecutive years. I suspect this streak will continue for at least another year. (One imagines the Coca-Cola board meeting is a rather sedate affair. Mostly consisting of polite nods and the quiet clinking of glass bottles.)
Coca-Cola’s dividend increases aren’t exactly stingy, either. In February 2025, the board approved a 5.2% increase. Over the past decade, the dividend has grown by approximately 46%. The current dividend yield is 2.7%. (Which, if invested wisely, could buy you a surprisingly large number of novelty-sized Coca-Cola bottles.)
If a hall of fame for reliable companies existed, Coca-Cola would be a shoo-in. Founded in May 1886, it has survived and thrived for nearly 140 years. (Which is a remarkably long time for anything, really. Especially a sugary beverage.) Today, Coca-Cola boasts 30 brands that each generate over $1 billion in annual sales. And, despite its already dominant position, it still has plenty of room for growth, with market shares of only 14% in developed markets and 7% in emerging economies. (The remaining 86% and 93%, presumably, are occupied by water, tea, and the occasional experimental fruit juice.)
3. Johnson & Johnson
Johnson & Johnson (JNJ 0.33%) shares a few similarities with Coca-Cola. For one thing, it has also increased its dividend for 63 consecutive years. Like Coca-Cola, J&J is likely to extend this streak in 2026. (One suspects the dividend departments of both companies have a secret handshake.)
However, Johnson & Johnson edges out Coca-Cola on one front. Over the past decade, the company has increased its dividend payout by over 73%. However, J&J’s strong stock performance has left it with a dividend yield of 2.4%, which is slightly lower than usual. (A minor inconvenience, perhaps, but a reminder that even the most reliable companies aren’t immune to the whims of the market.)
Both Johnson & Johnson and Coca-Cola were founded in 1886, with J&J beginning operations only a few months before Coca-Cola. In some respects, Johnson & Johnson’s success in adapting to the ever-changing healthcare market is even more impressive than Coca-Cola’s. (Adapting to changing healthcare regulations is a bit like navigating a particularly complex maze, blindfolded.)
Can Johnson & Johnson continue to evolve, while keeping the dividends flowing and growing? I believe so. The company is now focused on pharmaceuticals and medical technology after spinning off its consumer health unit, Kenvue (KVUE 0.35). J&J’s drug pipeline includes 103 programs in clinical development, with over half in late-stage testing or awaiting regulatory approval. (A pipeline of potential cures and treatments, or, potentially, a very expensive collection of failed experiments. The universe, as always, remains undecided.)
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2026-01-19 11:54