3 Dividend Stocks to Buy in October That Have Never Cut Their Payouts

Are you looking for some excellent dividend stocks this month? It's a great time to make sure you have some in your portfolio, as inflation remains strong and the market is becoming more expensive. Although there's no way to know what's going to happen next, you should be prepared for a market correction or crash at any time, and with signs pointing in that direction, there's no better time to correct your portfolio with protective stocks.

Realty Income (NYSE: O), Coca-Cola (NYSE: KO), and Procter & Gamble (NYSE: PG) are three top dividend stocks that have never cut their payouts, and they're excellent candidates.

1. Realty Income

Real estate investment trusts (REIT) are generally excellent dividend stocks because they pay 90% of their earnings as dividends, and Realty Income is one of the best. It's one of the largest REITs in the world, with more than 15,000 properties, and it has the means and opportunities to keep buying more.

Nearly 80% of its properties are leased to major retail chains such as Walmart and Home Depot, and more than 20% are leased to grocery and convenience stores. That's a reliable revenue stream, and Realty Income has a 98.8% occupancy rate.

However, it has recently diversified into new areas outside of retail, including gaming and industrials. It's also become a global giant, and it's making a greater move into Europe, providing it with more purchase opportunities.

Realty Income is one of the few companies that pays a monthly dividend, and it has paid the dividend for 675 consecutive months -- that's more than 56 years. It has raised it for 116 quarters. That's as reliable as it gets.

At the current price, Realty Income's dividend yields 6%. The stock has fallen as investors weigh how it can perform in the high-bond-yield market, which sent the dividend yield higher. Whatever happens in the short term, Realty Income has a proven track record, and this is an excellent time for passive income investors to buy.

2. Coca-Cola

Coca-Cola has Dividend King status, meaning it has raised its dividend for at least 50 consecutive years. The Atlanta-based company has reached 64 years of growing payouts without missing a beat. It has gone through some challenging times recently as the pandemic and inflation have stressed the business, but it has emerged even stronger, with investors valuing its resilience under pressure.

In the second quarter, despite a tough operating environment, sales increased 7% year over year. That's pretty impressive for a company that's 140 years old. Operating income outpaced it, increasing 9%, and comparable operating margin expanded from 34.7% to 35.6%. Management raised its outlook across revenue, earnings per share (EPS), and free cash flow.

Coca-Cola hasn't always been a market outperformer, and for years, it was predominantly seen as a great dividend play, with reliable payments and a high yield. However, it has crushed the market over the past year, up 32%, double the S&P 500's 16% total gain. It got a boost last year for the localized production that made it resistant to higher tariffs, and it's gone even higher in 2026 as fans keep buying its favored beverages, leading to stable earnings growth.

Consequently, its yield has come down to 2.5%, which is attractive. If you're looking for passive income that you can rely on under any circumstances, Coca-Cola is a top pick.

3. Procter & Gamble

Procter & Gamble has an even longer track record than Coca-Cola and a higher yield at today's price; it has raised the dividend for 70 years, and the dividend yields 3%.

The company is behind many well-known and loved brands, including Tide laundry detergent, Pampers diapers, and Crest toothpaste. It's a health, hygiene, and cleaning powerhouse, and its products command higher prices than many competitors' and generic brands. But since its products are essentials and their price tags are far from the prices of luxury goods, consumers continue to buy them despite inflation.

It's a slow grower, and it generally reports low-single-digit growth, such as a 3% year-over-year sales increase in fiscal 2026 (ended June 30). EPS was up 2%.

Despite rising costs, management provided a positive outlook for fiscal 2027, including similar performance to 2026. That's the kind of rock-solid business it has, and it's the kind of performance that fuels its almost unmatched dividend history. It's the same reason you can expect it to keep paying and raising the dividend for the foreseeable future, which is why Procter & Gamble is a great dividend stock to own forever.

Jennifer Saibil has positions in Walmart. The Motley Fool has positions in and recommends Home Depot, Realty Income, and Walmart. The Motley Fool has a disclosure policy.