5 Dividend Stocks to Hold for the Next 10 Years

Are you retired or almost there and seeking a steady income stream? Is retirement still well in the future, but you want to invest in stocks that can deliver solid total returns? If the answer to either of those questions is "yes," I have good news for you.

Out of the thousands of dividend stocks on the market, some rise to the top. Here are five dividend stocks, in particular, that I think are excellent picks to hold for the next 10 years.

Image source: Getty Images.

1. AbbVie

Perhaps the most important thing to know about AbbVie (NYSE: ABBV) is that it's a member of the elite group of stocks known as Dividend Kings. To join this group, a stock must increase its dividend for at least 50 consecutive years. AbbVie's track record of consecutive dividend increases currently stands at 53 years. Its dividend yield of almost 3% is also attractive.

But AbbVie's appeal isn't limited to its dividend. The big pharma company is poised for solid growth over the next few years, thanks to blockbuster drugs with soaring sales, especially autoimmune disease therapies Rinvoq and Skyrizi.

2. Ares Capital

Ares Capital's (NASDAQ: ARCC) forward dividend yield of 9.8% might be so high that some investors become acrophobic. However, this business development company (BDC) has maintained or grown its dividend for more than 16 consecutive years. I expect this streak will continue with Ares Capital's history of strong dividend coverage.

The total addressable market for private lenders is estimated at $5.4 trillion and is expected to continue expanding. Ares Capital is in a great position to capitalize on this opportunity (no pun intended) as the largest publicly traded BDC with long-standing relationships in the market.

3. Enbridge

Enbridge (NYSE: ENB) has increased its dividend for an impressive 30 consecutive years. This energy leader isn't stingy with its payouts, either, with a high forward dividend yield of 5.6%. I believe Enbridge's dividend is about as safe as they come.

The company's underlying business is low-risk and stable. Enbridge's pipelines transport roughly 30% of the crude oil produced in North America and around 20% of the natural gas consumed in the U.S. The company also ranks as the largest natural gas utility in North America based on volume.

The explosion in demand for data centers continues to serve as a key driver of growth for Enbridge. Why? The artificial intelligence (AI) applications hosted by these data centers are power-hungry, and natural gas is the leading fuel for power plants in the U.S.

4. Realty Income

Like Enbridge, Realty Income (NYSE: O) has increased its dividend for 30 consecutive years. Even better, the real estate investment trust (REIT) has increased its dividend for 112 consecutive quarters. Want to be more impressed? Realty Income's dividend yield is a lofty 5.7%.

This top REIT's track record of stability during volatile periods is exemplary. Chalk this achievement up to Realty Income's strong portfolio of properties. The company owns 15,542 properties rented to 1,647 clients representing 92 industries. Realty Income's overall occupancy level has never fallen below 96.6%. Since 2014, its portfolio has experienced only around 0.4% of bad debt expense.

Realty Income's growth prospects might be better than you think, too. Its total addressable market is estimated at $14 trillion. The majority of this opportunity is in Europe, where Realty Income faces little competition.

5. Verizon Communications

Verizon Communications (NYSE: VZ) offers a juicy dividend yield of 6.7%. While this telecommunications giant hasn't increased its dividend for 30 consecutive years like Enbridge and Realty Income, it's no slouch on this front. Verizon recently announced its 19th consecutive annual dividend hike.

I can think of several reasons to hold Verizon stock for the next 10 years, but one is especially interesting to me – the company's opportunities with 6G networks. Some industry observers predict that 6G networks will become widely available beginning as soon as 2030. These networks could support holograms, extended reality devices, and more. Verizon is leading the charge in developing 6G technology.

Keith Speights has positions in AbbVie, Ares Capital, Enbridge, Realty Income, and Verizon Communications. The Motley Fool has positions in and recommends AbbVie, Ares Capital, Enbridge, and Realty Income. The Motley Fool recommends Verizon Communications. The Motley Fool has a disclosure policy.