Dividend Growth Stocks to Consider for the Next Decade

When it comes to wealth building for long-term investors, owning dividend growth stocks is, perhaps, one of the more reliable strategies. As companies grow their revenues over time, those that consistently increase their dividends tend to demonstrate lasting stability. But, of course, not all dividend growth stocks are created equal.

Here are three companies worth watching in the next ten years: Tractor Supply, Coca-Cola, and American Express. Each of these names represents a distinctive approach to dividends, yet they all combine growth in payouts with solid cash generation, potentially keeping investors engaged even as interest rates go up.

1. Tractor Supply

At first glance, Tractor Supply Co. might seem to be struggling. Its stock price has dipped significantly this past year, hovering around $34 compared to its peak of about $64. However, the dividend narrative remains quite strong within the retail sector.

Just recently, the board approved a 4.3% increase in the quarterly dividend, raising it to $0.24 per share, bringing the annual payout to $0.96. This marks the company’s 17th consecutive year of dividend growth. Given the drop in share price, the dividend yield now stands at roughly 2.7%.

Even with the stock decline, the company’s business shows signs of growth. In the first quarter of 2026, net sales rose by 3.6% year-over-year, reaching $3.59 billion, aided by a record 40 new store openings. Notably, while earnings per share fell slightly from $0.34 to $0.31, management has kept its annual profit forecast intact at $2.13 to $2.23, up from $2.06 in 2025.

The dividend payout ratio is in the mid-40% range, suggesting plenty of room for future increases. Plus, Tractor Supply returned a notable amount of capital to shareholders—$244.4 million through dividends and stock buybacks just in the first quarter, and about $848 million over the entirety of 2025. This is quite impressive for a company with a market cap around $18 billion.

2. Coca-Cola

If consistency is your priority, Coca-Cola is hard to overlook. This beverage giant has increased its dividend for an astounding 64 years in a row, earning its place among the Dividend Kings, which signifies firms that have upped their dividends annually for a minimum of 50 years.

In February, Coca-Cola increased its quarterly dividend from $0.51 to $0.53, translating to an annual rate of $2.12 and around a 2.6% yield. The company reports a strong fundamental momentum, with first-quarter net revenue growing by 12% year-over-year and adjusted earnings per share rising 18%. Management has even raised its full-year earnings forecast to grow between 8% and 9%, up from the earlier estimate of 7% to 8%.

The dividend appears well-supported, too. Coca-Cola generated roughly $11.4 billion in adjusted free cash flow against dividend payments around $8.8 billion in 2025, and anticipates an increase to about $12.2 billion in 2026.

3. American Express

American Express might be the dark horse on this list, especially when it comes to dividends. With a yield of just 1.2% currently, it may not attract income-driven investors right away. But for those focused on growth, it could be the most intriguing choice of the three.

In March, the company raised its quarterly dividend by 16%, pushing it from $0.82 to $0.95 per share. Over the past five years, the dividend has more than doubled, compounding at over 17% annually. This growth is driven by remarkable revenue increases. In the first quarter, total revenue, minus interest expenses, nudged up by 11% year-over-year to $18.9 billion, while earnings per share climbed 18% to $4.28. Spending by cardholders even grew by 10%, marking the strongest quarterly growth seen in three years.

CEO Stephen Squeri mentioned during the earnings call that it was the “highest quarterly growth rate” in spending the company has recorded within three years. Future targets look promising, with management aiming for earnings per share of $17.30 to $17.90 in 2026, which suggests about a 14% growth at the midpoint along with a payout ratio around 22%. So, there’s the potential for further dividend increases.

The stock has also seen a downturn of about 14% since the start of the year, which could present a more appealing entry point for new investors.

Long-Term Potential

There are risks associated with each of these stocks. Tractor Supply is navigating challenges like weak same-store sales and decreased consumer spending. Coca-Cola is distributing a significant portion of its free cash flow, so if business results falter, the dividend safety could be compromised. And American Express faces possible headwinds from fluctuating consumer credit cycles and spending on premium services.

That said, their strengths can offset each other. Coca-Cola brings exceptional long-term dividend reliability, while American Express offers rapid dividend growth, which is somewhat unusual for a financial stock. Tractor Supply, despite modest dividend growth of late, boasts an increased initial yield due to stock price declines, coupled with a solid long-term growth trajectory.

In holding these three dividend stocks for the next decade, income-focused investors can build a robust foundation for their portfolios, as dividend growth accumulates over time.