Are you looking for a top dividend stock to add to your portfolio right now?
Do you want a steady dividend payer that can sustain its payout through the ups and downs of any economic cycle?
If so, then you should consider Coca-Cola (KO +0.14%).
NYSE: KO
Key Data Points
The $300 billion beverage giant boasts a market dominance that makes it extremely appealing to long-term investors who want consistent income -- via dividends -- as well as capital preservation.
The company has been around for 137 years and now has 200 global brands offered in more than 200 countries. It is the world's largest beverage company.
Even Warren Buffett, one of the greatest investors of all time, loves this stock. He began buying Coca-Cola shares after the 1987 market crash because he believed it was undervalued. Today, it is Berkshire Hathaway's fourth-largest holding with a position worth $28.2 billion.
A Dividend King
The stock has a dividend yield of 2.9%, and shares are up a respectable 13% year to date.
In fact, Coca-Cola is among a truly elite group of stocks known as Dividend Kings. These 56 companies have earned that title due to their impressive commitment to returning capital to shareholders through dividends. In fact, Dividend Kings must pay and grow their dividend for at least 50 consecutive years. Coca-Cola's payout growth streak extends to 63 years, meaning it has survived everything from the 1970s energy crisis to the dot-com bubble and Great Recession.
If you want dividends and stability, you can't go wrong with Coca-Cola.