There has been no shortage of companies cutting dividends in the past year. That's just one way management teams have been scaling back their spending amid the current economic turbulence. But it can be particularly unsettling for income investors to wonder if the stocks they are counting on for steady payouts will be the next ones to have their dividends trimmed.

If you're looking for some safety on the dividend front, consider Bristol Myers Squibb (BMY -1.09%), Verizon Communications (VZ -1.25%), and Coca-Cola (KO 0.60%). These investments have the potential to pay you dividends forever.

1. Bristol Myers Squibb

Healthcare behemoths such as Bristol Myers Squibb can offer a fair amount of security to investors. Last year, the company reported a profit of $6.3 billion on revenue totaling $46.2 billion, giving it a strong profit margin of around 14%. It also brings in a boatload of free cash flow -- just under $12 billion last year alone. That was more than enough to cover its dividend payments of about $4.6 billion annually.

At the current stock price, Bristol Myers yields 3.4%, which is about double the S&P 500's yield of 1.7%.

The company has been able to maintain its high yield while also growing via acquisitions over the years. In 2019, it bought cancer company Celgene in a massive deal for $74 billion. And in 2022, it closed on its acquisition of Turning Point Therapeutics, which is also involved with oncology and will strengthen Bristol Myers' portfolio in that therapeutic area. 

Strong financials have given Bristol Myers plenty of room to balance its dividend and its growth opportunities, which is why I can see it paying dividends for a long time to come. Last year, the company increased its payout for a 14th consecutive year.

2. Verizon Communications

Top telecom providers such as Verizon can also be great options for dividend investors. They generate recurring revenue from their customers, and as people roam and consume more data, their sales will continue rising. Plus, these businesses have some flexibility to raise prices because smartphones and the internet are so essential these days that consumers can't simply go without them.

Verizon is by no means a growth machine. Its revenue of $136.8 billion in 2022 was less than 4% higher than the $131.9 billion it reported in 2019. But at the same time, you can also say its top line is fairly stable, while its bottom line remains strong. Its operating profit of $30.5 billion last year equaled more than 22% of its revenue.

The company's payout ratio is just over 50%, so management has plenty of room to maintain and potentially increase its dividend payments. Its 16-year streak of annual dividend hikes is the longest in the U.S. telecom industry.

Now may be an optimal time to buy shares of Verizon as the stock is near its 52-week low and yields an incredibly high 6.9%.

3. Coca-Cola

The last stock on this list is arguably the safest when it comes to dividend payments. In February, Coca-Cola announced that it would be increasing its dividend for the 61st consecutive year. That's an impressive track record, even among its fellow Dividend Kings. 

The company's business has proven resilient. Coca-Cola's sales rose by 5% year over year to $11 billion in the first quarter, and that's factoring in headwinds from foreign currency shifts. Organically, revenue grew at an even higher rate of 12% as consumer demand remained strong even as the soft drink giant increased its prices to offset rising costs due to inflation.

Over the years, Coca-Cola has evolved to offer healthier options for consumers, and its strong financials allow it to continue investing in its operations. Free cash flow of $9.5 billion last year was higher than the $7.6 billion it paid in dividends.

Coca-Cola's 2.9% yield may not be as high as Verizon's or Bristol Myers', but based on its long track record of dividend hikes, investors who buy and hold the stock can expect to see their dividend payouts rise over time.