Forever Dividend Stocks: 3 Income Stocks I Never Plan to Sell

Key Points

• AbbVie is a Dividend King that has proven its resilience.

• Brookfield Infrastructure Partners has a repeatable strategy for long-term success.

• Realty Income has a diversified portfolio of properties and solid growth prospects.

• 10 stocks we like better than AbbVie ›

Warren Buffett was onto something when he said that his "favorite holding period is forever." Like Buffett, I prefer to buy stocks that I hope to be able to own for a long time.

The "Oracle of Omaha" and I share another thing in common: We both like dividend stocks. Over the long run, dividends can boost total returns significantly. Do I own any "forever" dividend stocks? Yep. Here are three income stocks I never plan to sell.

Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue »

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1. AbbVie

Dividend Kings, an elite group of stocks that have increased their dividends for at least 50 consecutive years, are natural candidates to buy and hold. I think AbbVie (NYSE: ABBV) is one of the best Dividend Kings of all. The drugmaker has increased its dividend for 53 consecutive years. Its forward dividend yield is 2.95%, which is lower than the average over the last five years only because AbbVie's stock has performed really well.

AbbVie makes therapies that target over 75 conditions. Its top-selling products treat autoimmune diseases, cancer, and neurological disorders. With an aging population, I expect the demand for safe and effective drugs for these therapeutic areas will continue to grow over the next few decades.

Probably the biggest risk for an established pharmaceutical company like AbbVie is that it won't be able to successfully navigate a patent cliff. However, AbbVie has already demonstrated its ability to handle key patent expirations with ease.

Humira was once the top-selling drug in the world, but its sales began to plunge after biosimilar rivals entered the U.S. market in 2023. AbbVie didn't skip a beat, though. The company already had two successors to Humira on the market. It had also reduced its dependence on its top blockbuster drug through strategic acquisitions and internal development. I'm confident that AbbVie will be able to survive and thrive when future losses of exclusivity come, too.

2. Brookfield Infrastructure Partners

Brookfield Infrastructure Partners (NYSE: BIP) has grown its distribution by a compound annual growth rate of 9% over the last 16 years. Its distribution yield tops 5.5%. That's the kind of income that many investors would love to keep flowing and growing. I know I do.

The good news is that Brookfield Infrastructure is targeting average annual distribution growth of between 5% and 9%. Even better news is that its business should support this growth.

This limited partnership owns cell towers, data centers, electricity transmission lines, pipelines, rail, terminals, toll roads, and other infrastructure assets on five continents. These assets generate steady cash flow, with 85% of Brookfield Infrastructure's funds from operations (FFO) contracted or regulated.

What I especially like about Brookfield Infrastructure, though, is its overall strategy. The LP buys infrastructure assets when they're valued attractively. It enhances the value of those assets by managing them well. And when the opportunity arises, Brookfield sells mature assets and recycles the cash into new investments. This approach should work for a long time to come.

3. Realty Income

Realty Income's (NYSE: O) forward dividend yield of 5.45% isn't too far behind Brookfield Infrastructure's distribution yield. The real estate investment trust (REIT) also has an impressive track record, with 30 consecutive years of dividend increases and 132 monthly dividend increases since listing on the New York Stock Exchange in 1994.

Real estate can be a volatile market. However, Realty Income has demonstrated remarkable stability through up and down economic cycles. It has even delivered a positive operational return (the sum of dividend yield and adjusted FFO) for 29 consecutive years.

Importantly, Realty Income's portfolio is well diversified. It owns more than 15,600 properties spread across every U.S. state, the U.K. and seven European countries. The REIT's tenants represent 91 industries.

I expect Realty Income to generate solid growth over the long term, too. Its total addressable market is around $14 trillion. Roughly $8.5 trillion of this opportunity is in Europe, where the REIT faces minimal competition.

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Keith Speights has positions in AbbVie, Brookfield Infrastructure Partners, and Realty Income. The Motley Fool has positions in and recommends AbbVie and Realty Income. The Motley Fool recommends Brookfield Infrastructure Partners. The Motley Fool has a disclosure policy.