Coca-Cola (KO): 64 Years of Dividend Growth and Still Going Strong
Coca-Cola (KO) doesn’t need an exciting turnaround story to make a compelling investment. For income investors, the attraction is much simpler: The company has raised its dividend for 64 consecutive years, offers a yield well above the broader market, and continues to generate more than enough cash to support its payout.
That 64-year streak puts Coca-Cola firmly among the Dividend Kings, companies that have increased their dividends for at least 50 consecutive years. More importantly, the streak has survived recessions, periods of high inflation, stagflation, wars and numerous market downturns. Few companies have demonstrated that kind of consistency.
And the streak is still growing. Earlier in 2026, Coca-Cola’s board raised the quarterly dividend another 4%, bringing it to $0.53 per share. Based on the Sept. 22 closing price, that worked out to a yield of roughly 2.4%, more than double the S&P 500’s 1% yield.
A long dividend history is valuable, but only if the company can afford to keep paying it. That’s another reason Coca-Cola stands out.
During the first half of 2026, the company generated $6.9 billion in free cash flow while paying $4.6 billion in dividends. That left roughly $2.3 billion after covering the payout, providing a healthy cushion and helping support the potential for additional increases in the years ahead.
Coca-Cola also offers the kind of established business that can make a dividend stock easier to hold through different market environments. Its 64-year record shows that management has consistently prioritized returning cash to shareholders even as economic conditions have changed dramatically.
The stock trades around $88 per share, with a market capitalization of approximately $379 billion. It’s also not far below its 52-week high of $92.49, so this isn’t a beaten-down value play. The case for buying Coca-Cola is primarily about dependable income and long-term dividend growth rather than a quick rebound in the share price.
As we head into October and the final quarter of 2026, we think that combination deserves a closer look. Investors are getting a roughly 2.4% yield today, a dividend that was raised another 4% earlier this year, and a company generating substantially more free cash flow than it needs to fund the payout.
After 64 consecutive annual increases, Coca-Cola has earned its reputation as one of the market’s most dependable dividend stocks. For investors looking to add reliable and growing income to a long-term portfolio, we think it’s still an attractive stock to own.
