3 Dividend Growth Stocks That Can Deliver a Lifetime of Passive Income

Investing in dividend growth stocks is an excellent strategy for generating passive income over the long term. These companies consistently increase their dividends, providing shareholders with a growing income stream. Here are three dividend growth stocks that can deliver a lifetime of passive income:

1. AbbVie Inc. (ABBV)
- Industry: Healthcare
- Dividend Yield: 5.5%
- Dividend Growth Rate: 10.00% (5-year)
- Payout Ratio: 43.4%
- AbbVie Inc. is a pharmaceutical company with a strong portfolio of drugs, including Humira, Skyrizi, Rinvoq, Imbruvica, Epkinly, Elahere, and Venclexta/Venclyxto. These drugs treat various autoimmune, inflammatory, and blood cancer conditions, providing the company with significant revenue and cash flow to support its dividend growth.
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2. Altria Group, Inc. (MO)
- Industry: Tobacco
- Dividend Yield: 7.5%
- Dividend Growth Rate: 7.50% (5-year)
- Payout Ratio: 80.00%
- Altria Group, Inc. is a leading tobacco company with a strong market position in the United States. Its portfolio includes popular brands like Marlboro, Copenhagen, Skoal, and Red Seal. The company's consistent earnings growth and strong cash flow generation enable it to maintain and grow its dividend payouts.
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3. Procter & Gamble Co. (PG)
- Industry: Consumer Staples
- Dividend Yield: 2.7%
- Dividend Growth Rate: 6.00% (5-year)
- Payout Ratio: 55.00%
- Procter & Gamble Co. is a multinational consumer goods company with a diverse portfolio of brands, including Tide, Pampers, Gillette, and Oral-B. The company's strong financial performance and consistent dividend growth make it an attractive choice for income-oriented investors.
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These three dividend growth stocks offer attractive yields and consistent dividend growth, providing investors with a growing income stream over time. By investing in these companies, you can generate passive income and build long-term wealth. However, it's essential to conduct thorough research and consider your risk tolerance before making any investment decisions.