3 Dividend Stocks to Buy and Hold for the Next Decade

What should investors do when stocks are tanking over the short term? Probably the best answer is to think long term.

Three Motley Fool contributors think they've found great dividend stocks to own for the long term that pay you to wait for better days. Here's why they picked AbbVie (NYSE: ABBV), Amgen (NASDAQ: AMGN), and Eli Lilly (NYSE: LLY).

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A Dividend King with a bright future

Keith Speights (AbbVie): Unlike most stocks, AbbVie's share price is up by a double-digit percentage so far in 2025. Investors know that the big pharmaceutical company's products will be in demand, regardless of what happens with the economy or the stock market.

I like AbbVie's resilience. The company is coming off the patent expiration for its longtime top-selling drug, Humira. But AbbVie planned exceptionally well for this loss of exclusivity. Its two successors to Humira (Rinvoq and Skyrizi) are on track to generate more sales combined than Humira did at its peak.

AbbVie has also completed several important acquisitions in recent years. These deals added major growth drivers to the company's lineup, including cancer drug Elahere, cosmetic therapy Botox, and antipsychotic Vraylar.

In addition, AbbVie's pipeline appears to be promising. The company has over 90 programs in clinical development, including late-stage candidates such as autoimmune disease drug lutikizumab and multiple myeloma drug etentamig.

Arguably the best thing about AbbVie, though, is its dividend. The drugmaker's forward dividend yield stands at 3.25%. AbbVie is also a Dividend King, with 53 consecutive years of dividend increases.

A terrific dividend growth stock

Prosper Junior Bakiny (Amgen): Biotech giant Amgen has seen its share of issues in recent years. It has sometimes had trouble growing its organic revenue fast at a good-enough clip for investors' liking, and late last year, the drugmaker faced a clinical setback when its investigational weight management medicine, MariTide, did not perform as well as expected in phase 2 studies. However, these issues do little to change Amgen's long-term prospects.

The company's lineup has gotten stronger, partly thanks to acquisitions. It has growth drivers like Tepezza, a medicine for thyroid eye disease; asthma medicine Tezspire; and others. Amgen's sales growth is safe and should improve as the company earns approval for newer products and lands label expansions for existing ones. Further, Amgen's pipeline isn't limited to MariTide -- never mind that this program could still make waves in the fast-growing weight loss market.

Beyond that, Amgen has more than 30 candidates in phase 3 studies alone. The biotech should have little trouble replenishing its lineup and maintaining steady revenue and earnings growth, just as it has over the long run.

Amgen has also consistently raised its dividends. Its payouts have grown by 201% in the past decade. The company's forward yield of 3.1% beats the S&P 500's (SNPINDEX: ^GSPC) average of 1.3%.

Amgen has so far defied the market sell-off we have experienced this year. Whether or not it continues to do so, the stock is an excellent option for income-seeking investors.

Eli Lilly is an underrated dividend growth machine

David Jagielski (Eli Lilly): If you're looking for a top dividend stock to own, you might be tempted to skip over Eli Lilly due to its low yield of less than 1%. But doing so could be a mistake. That's because while its yield is low today, the dividend has been growing significantly over the years.

Currently, the company pays investors a quarterly dividend of $1.50, which is more than twice what it was paying five years ago. Back then, the quarterly payout was $0.74. The company has increased its dividend by 15% for seven consecutive years.

The stock would be yielding a much higher rate if not for its skyrocketing valuation. In five years, it has risen by 480% in value and when you include its dividend, investors' total returns are up around 533%. By comparison, the S&P 500's total returns over that stretch are 135%.

Eli Lilly is not just a fantastic growth stock with incredible assets in Zepbound and Mounjaro, which are GLP-1 drugs generating billions in revenue for the business, but it's also a terrific dividend growth stock to hang on for 10-plus years. The stock may look expensive, trading at close to 70 times its trailing earnings, but with a fast-growing business and a stellar dividend, this is an investment that can be a great fit for any portfolio.

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*Stock Advisor returns as of April 5, 2025

David Jagielski has no position in any of the stocks mentioned. Keith Speights has positions in AbbVie. Prosper Junior Bakiny has positions in Eli Lilly. The Motley Fool has positions in and recommends AbbVie and Amgen. The Motley Fool has a disclosure policy.