Sit back, and let the money roll in. That's the idea with passive income. Unfortunately, it's not always that easy. Sometimes, investments that initially look promising turn out to be duds after a while.
However, some alternatives pay you consistently and reliably over the long run. Want decades of passive income? Here are three stocks to buy now and hold forever.
Image source: Getty Images.
1. AbbVie
You won't find stocks that pay more dependable dividends than the elite group known as Dividend Kings. These stocks have increased their dividends for at least 50 consecutive years. And AbbVie (ABBV +0.06%) is a member in good standing, with its 53 straight years of dividend hikes (including the time it was part of Abbott Labs (ABT +1.03%)).
AbbVie's forward dividend yield is currently a hair below 3%. This yield is on the low end of the drugmaker's historical range, but for a good reason: The pharma stock has been a big winner in recent years and is up more than 30% in 2025.
NYSE: ABBV
Key Data Points
What's behind this success? AbbVie has done a phenomenal job in navigating what could have been a devastating patent cliff. The company's longtime top-selling drug, Humira, lost U.S. patent exclusivity in 2023. But AbbVie's investments in research and development and strategic acquisitions paid off. The company now has multiple products that have reduced its dependence on Humira.
The future looks bright for this big drugmaker, too. Sales for Humira's two successors, Rinvoq and Skyrizi, are skyrocketing. It's a similar story for AbbVie's migraine therapies, Qulipta and Ubrelvy. To add icing to the cake, AbbVie's pipeline is promising, with around 50 programs in mid- and late-stage clinical development.
2. Enbridge
While Enbridge (ENB +0.61%) isn't a Dividend King, its dividend track record is nonetheless impressive. This energy company has increased its dividend for 30 consecutive years. That makes Enbridge a member of the Dividend Champions -- companies with at least 25 consecutive years.
Enbridge's forward dividend yield is a hefty 5.5%. Investors seeking passive income should have nothing to worry about with this high yield. Enbridge generates ample free cash flow to cover its dividend payments.
NYSE: ENB
Key Data Points
The nature of Enbridge's business makes the company's dividend especially dependable. Enbridge ranks as the largest natural gas utility in North America based on volume. Its pipelines transport around one-fifth of the natural gas consumed in the U.S. and 30% of the total crude oil produced in North America. Roughly 80% of Enbridge's earnings before interest, taxes, depreciation, and amortization (EBITDA) is protected against inflation, with less than 1% of EBITDA exposed to volatile commodity prices.
Although Enbridge probably won't generate jaw-dropping growth going forward, it shouldn't be stagnant. The increasing number of power-hungry data centers and conversions of power plants from coal to natural gas bode well for the company's growth prospects.
3. Realty Income
Like Enbridge, Realty Income (O +0.37%) is a Dividend Champion with 30 consecutive years of dividend increases. This real estate investment trust (REIT) also pays its dividend monthly rather than quarterly.
Want even better news? Realty Income's forward dividend yield is 5.7%. Such high yields aren't unusual for REITs, because they must return at least 90% of income to shareholders as dividends to be exempt from federal income taxes.
NYSE: O
Key Data Points
Passive income investors should really like Realty Income's stability. The REIT has delivered 29 straight years of positive total operational returns (the sum of annual adjusted funds from operations per share growth and dividend yield). This impressive performance is a direct result of Realty Income's strong and well-diversified property portfolio.
Realty Income has pretty good growth opportunities as well. The company's total addressable market is around $14 trillion. Europe has an especially attractive market with fragmented competition.
