If you're in your 70s, you'll probably appreciate a rock-solid investment that can supply you with a steadily rising stream of income -- one that can help support you in retirement and that you can count on year after year.

There are a select few stocks that meet these criteria. Read on to learn about one of the best available in the market today.

Three glasses of beer

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The beer king

Anheuser-Busch InBev (NYSE:BUD) dominates the global beer industry. After acquiring its former No. 1 competitor, SABMiller, in a $100 billion deal, AB InBev now commands nearly 30% of the global beer market. The combined company has a portfolio of more than 500 beers, including seven of the top 10 global beer brands and 18 brands that generate more than $1 billion in retail sales.

AB InBev is now the world's first truly global brewer, with operations in virtually every major beer market. And while growth in beer consumption has recently been tepid in developed markets such as the U.S., the merger with SABMiller gives AB InBev a stronger position in high-growth developing regions, particularly in Africa. 

Moreover, AB InBev's "premiumization" strategy -- in which it aggressively promotes its higher-priced brands -- is leading to increases in average selling prices. That's helping the company's revenue grow at a faster rate than volume, while also helping margin expand.

AB InBev's profit margin is also benefiting from a more streamlined cost structure. The company is already more than halfway to its goal of capturing $3.2 billion in cost synergies from its merger with SABMiller, and management expects to achieve the rest within the next three years. 

In its most recent quarter, these initiatives helped AB InBev's EBITDA margin improve by 353 basis points, to 38.9%. In turn, the beer giant's normalized earnings per share jumped 58% year over year to $1.31.

Rolled dollar bills , each one taller than the one before, representing a rising stock chart.

Image source: Getty Images.

Management is committed to passing on these rising profits to investors in the form of a bountiful 3.8% dividend. At its current cash payout of approximately $4.39 per share, AB InBev's dividend should be well secured by the more than $5 in EPS the company is projected to generate in 2018. And with the beer behemoth expected to grow its earnings per share by more than 22% annually over the next half-decade, it should be able to steadily increase its dividend payout in the years ahead.

Even better, Anheuser-Busch's shares can currently be had for a bargain price at about 22 times analysts' earnings estimates for 2018. That places its price-to-earnings-to-growth, or PEG, ratio near 1, which is indicative of an undervalued stock.

All told, with its dominant competitive positioning, growing profits, solid dividend, and attractively priced stock, AB InBev is an excellent option for investors in their 70s to consider buying today.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.