Boomers Are Quietly Buying These 7-9% ‘Forever Income’ Dividend Stocks

EPD yields 6% with 1.9x distribution coverage, while MPLX yields 7.5% and has guided 12.5% annual distribution growth through 2027.

Ares Capital's 10.2% yield is cushioned by $1.38 per share in taxable income reserves and $6 billion in available liquidity.

Altria has raised its dividend every year since 2009 and trades at 12x forward earnings, all while cigarette volumes fall between 5 and 10 percent annually.

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Income investors face a higher hurdle than in years past: the 10-year Treasury yield stands at 5.31%, the highest reading in a month. A dividend stock now has to pay more than that and keep paying through recessions, rate swings, and industry shocks. The five names below fit that test. They are two fee-based pipeline partnerships, a tobacco giant, the largest business development company, and a skilled nursing landlord. Each pays above the Treasury benchmark, and each supports the payout with coverage, cash flow, and a long payment record.

Enterprise Products Partners: 1.9x Coverage on a Payout That Keeps Climbing

Enterprise Products Partners ( NYSE:EPD ) is a high-yield anchor. Units trade at $36.89 and yield 5.99%. The latest quarterly distribution of $0.56 works out to $2.24 annualized.

Dividend safety: Operational distributable cash flow reached $2.3 billion in the second quarter, which is 1.9x coverage of the cash distribution. Adjusted EBITDA hit a record $2.83 billion, up 17% year over year. Even after funding growth projects, the partnership still repurchased $159 million of units in the quarter. Its quarterly payments date back to 1999, and distributions have risen from $0.45 per quarter in 2021 to their current level.

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Bull case: Organic growth projects under construction total $6.5 billion for the partnership, including an LPG export expansion and two new Permian gas plants. Those projects should support future raises like the latest 2.8% year-over-year increase. The units trade at a forward P/E of 12x, and Jim Cramer recently called Enterprise "a really well-run company."