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- Social Security is not enough to provide for a comfortable retirement.
- The Dividend Kings are the perfect choice for growth and income investors.
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While getting to retirement age can be a blessing and a curse, counting on the U.S. government to provide for your needs is not the best idea. The full retirement age is 66 if you were born from 1943 to 1954. The full retirement age increases gradually if you were born from 1955 to 1960 until it reaches 67; for anyone born in 1960 or later, full retirement benefits are payable at age 67.
With the youngest baby boomers (Americans born between 1946 and 1964) approaching retirement age, it's becoming increasingly important to focus on magnificent dividend stocks that will supply significant passive income either in or out of designated retirement accounts like IRAs.
Passive income is characterized by its ability to generate revenue without requiring the earner's continuous active effort. This makes it a desirable financial strategy for those seeking to diversify their income streams or achieve financial independence. The Dividend Kings are perfect for those seeking to maximize their retirement passive income needs.
The Dividend Kings are the 53 companies 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. Five companies provide perfect passive income streams, and all are rated Buy at top Wall Street firms.
Altria
Altria is one of the world's largest producers and marketers of cigarettes and other tobacco-related products.
This tobacco company offers value investors a great entry point now and a rich 7.56% 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
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 S.A. ( NYSE: BUD ), the world's largest brewer. The company sold 35 million of its 197 million shares through a global secondary offering. That represents 18% of their holdings but still leaves a hefty 8% of the outstanding shares in their back pocket. They also announced a $2.4 billion stock repurchase plan partially funded by the sale.
Canadian Utilities
This Canada-based worldwide organization of companies has around $22 billion in assets and more than 8,000 employees.
With a strong 5.46% dividend and a highly safe sector, this company is a steal at current trading levels. Canadian Utilities Ltd. (OTC: CDUAF) engages in the electricity, natural gas, renewables, pipelines, liquids, and retail energy businesses in Canada, Australia, and internationally.
It operates through three segments:
- ATCO Energy Systems
- ATCO EnPower
- Corporate & Other segments
The ATCO Energy Systems segment provides regulated electricity transmission and distribution services in:
- Northern and Central East Alberta
- The Yukon
- The Northwest Territories
- The Lloydminster area of Saskatchewan
This segment also provides integrated natural gas transmission and distribution services in Alberta, the Lloydminster area of Saskatchewan, and Western Australia. It owns and operates approximately 9,100 kilometers of natural gas pipelines, 11 compressor sites, approximately 3,600 receipt and delivery points, and a salt cavern natural gas storage peaking facility near Fort Saskatchewan, Alberta in Canada.
The ATCO EnPower segment provides:
- Hydro
- Solar
- Wind
- Natural gas electricity generation
- Natural gas storage
- Industrial water solutions
- Clean fuels, including hydrogen, carbon capture, and underground storage projects; and related infrastructure development in Alberta, the Yukon; the Northwest Territories, Australia, Ontario, Mexico, and Chile
The Corporate & Other segment retails electricity and natural gas and provides whole-home solutions.
Kenvue
Kenvue is the world's largest pure-play consumer health company in terms of revenue.
Spun off from Johnson & Johnson Inc. ( NYSE: JNJ ) last year, this potential total return home run pays a solid 3.80% dividend. Kenvue Inc. ( NYSE: KVUE ) is a global consumer health company.
The company operates through three segments:
- Self Care
- Skin Health and Beauty
- Essential Health
The self-care segment offers cough, cold, and allergy pain care, digestive health, smoking cessation, and other products under these brands:
The Skin Health and Beauty segment provides face and body care, hair care, sun care, and other products under these brands:
The Essential Health segment offers oral and baby, women's health, and wound care products under these brands:
- Listerine
- Johnson's
- Band-Aid
- Stayfree
PepsiCo
As of 2023, Pepsi is the second most valuable soft drink brand worldwide behind Coca-Cola.
This top consumer staples stock posted mixed earnings for the quarter but will still supply all the goods for upcoming NFL football season tailgates and parties and pays a solid 3.08% 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
Johnson & Johnson 
Johnson & Johnson is an American multinational pharmaceutical, biotechnology, and medical technologies corporation.
With a diverse product base and a familiar and solid brand, Johnson & Johnson ( NYSE: JNJ ) is among the most conservative big pharmaceutical companies and pays a 3.06% dividend. It is one of the top market-cap stocks in the healthcare sector and raised the dividend for shareholders last year for the 61st consecutive year.
The company remains one of Wall Street's most diversified health care names, with everything from medical devices to over-the-counter health items and prescription drugs.
The health care giant also has one of the most exciting pipelines of new drugs in the sector. That, combined with the solid OTC product business, makes the stock an outstanding holding for conservative accounts with a long-term investment.
The company generates a little over half of its sales in international markets, which are expected to see higher spending on health care over the next ten years and beyond.
Five Dow Jones Industrials Blue Chip High-Yield Dividend Giants Are Still On Sale
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