There are many paths to profit on Wall Street but one of the best strategies is investing in dividend stocks. Over long periods dividend-paying stocks have outperformed those that don’t pay one. In fact, going as far back as 1930 there has never been a decade when income stocks on the S&P 500 had a losing decade.

That means through world wars and pandemics, multiple recessions and depressions, dividend stocks not only survived but thrived. There is no telling when the next market crash will arrive but an investor looking to protect his portfolio can’t go wrong by investing in these seven dividend stocks for retirement.

Apple (AAPL)

Apple (NASDAQ:AAPL) is not the first stock to come to mind when most investors think of dividends. Others will dismiss it because of the 0.5% yield, Yet the iPhone maker announced its dividend almost exactly 12 years ago and has raised the payout every year since. Over the past decade, the compounded growth rate for Apple’s dividend is over 8% a year.

Had you bought Apple’s stock on the day it announced the dividend for a split-adjusted price of about $18 per share, you would have enjoyed a 900% total return on your investment. A $1,000 investment would have turned into more than $10,000 today. In contrast, a similar bet on the S&P 500 would have produced just $4,500.

There’s little debate Apple will keep on growing. Although iPhone and Macbook sales growth has slowed somewhat, the increasingly important services segment remains a significant profit center. And because all of Apple’s products are tied into generating revenue, services will be the tech star’s lever to pull for long-term gains.

Broadcom (AVGO)

As grows Apple, so grows Broadcom (NASDAQ:AVGO), one of the premiere smartphone chipmakers. Apple represents 20% of Broadcom revenue and recently signed a long-term deal for the chipmaker’s 5G radio frequency components for Apple products. 

If that was all the chipmaker had going for it that could be enough to warrant an investment. Yet AVGO stock offers much more than being an Apple supplier. The advent of artificial intelligence (AI) has kicked off a new round of growth. Nvidia (NASDAQ:NVDA) grabs the headlines but Broadcom said generative AI represented almost $1.5 billion of fourth-quarter revenue, or some 20% of its total semiconductor sales. Similarly, Broadcom’s recent acquisition of VMWare will give its software segment a new lease on life. The chipmaker has been very busy making software acquisitions over the years and it expects the segment to account for half of all revenue.

The dividend of $19.05 per share yields 1.5% annually. Broadcom has raised the payout for 14 consecutive years and has a 36% compounded annual growth rate (CAGR) over the last 10 years. That’s why AVGO stock should be thought of as a set-and-forget investment.

Coca-Cola (KO)

Coca-Cola (NYSE:KO) has been paying dividends nonstop since 1920. It began raising the dividend in 1967 and hasn’t stopped doing that either. There are few companies with a longer track record than Coke in raising its dividend that currently yields 3.0%. Its history makes the beverage giant a classy Dividend King.

The reason Coca-Cola should be part of your forever portfolio is because of its strength, consistency, and durability. First, it is a much more diversified beverage company than when it simply sold soda. Now it offers water, tea, energy drinks, juices and more, all of which have more growth potential. And though soda consumption is in a secular decline, Coca-Cola remains a cash-generating machine. It ended 2023 with just under $10 billion in free cash flow (FCF). 

Coke’s long-term dividend increases are smaller than the tech stocks on this list, but at 5% for the past decade it represents a strong consistency for such a mature business. Some might look at the payout ratio of 81% and be concerned but KO stock’s cash flow ratio is a much healthier 68%. Since dividends are paid out of FCF, that’s the more important metric to follow.

Altria (MO)

Tobacco stock Altria (NYSE:MO) is another dividend payer with a solid, long-term growth track despite a secular decline in its primary cigarette business. It remains massively profitable and boasts gross margins of 70%, operating margins north of 55%, and net margins exceeding 43%. The addictive nature of nicotine keeps its customers coming back even if prices go up, which they do several times a year.

Yet Altria is also looking forward to a smoke-free future. It recently acquired the third-largest electronic cigarette manufacturer NJOY. Although it has a relatively tiny market share compared to British American Tobacco‘s (NYSE:BTI) Vuse and one-time partner Juul Labs, Altria’s marketing muscle ought to allow the e-cig maker to rapidly steal share.

The tobacco stock also has leading oral tobacco brands including Copenhagen, Skoal, and on! And its Marlboro cigarettes enjoy a dominant 42% share of the cigarette market. It also has equity investments in Anheuser-Busch InBev (NYSE:BUD) and marijuana stock Cronos Group (NASDAQ:CRON).

All that leads to a dividend that yields 9.3% and has been increased for 55 consecutive years. With a cash flow payout ratio of 59%, the dividend is safe and available for future increases.

Johnson & Johnson (JNJ)

Pharmaceutical behemoth Johnson & Johnson (NYSE:JNJ) should also reside high up on your buy-and-hold forever list. Having spun off its slower growth consumer products unit, the healthcare stock is now focusing on research and development, acquisitions, and bolstering its multi-billion-dollar prescription drug portfolio.

Fortunately for investors, JNJ stock operates in a fairly recession-resistant industry. People need their medications and medical devices so that even in a recession or depression they won’t forgo taking them. The pharma also boasts a strong balance sheet and consistent cash flow generation. It produced almost $18 billion in free cash flow last year and routinely produces $15 billion or more annually. Much of that money will be targeted towards greater R&D spending.

Johnson & Johnson has a 10-year CAGR of 6% on its dividend, which yields 3%, and a cash flow payout ratio of just 49%. JNJ stock also has a 62-year history of raising its payout. It will likely be doing so for decades to come. Shares trade at a discount of just 14 times next year’s earnings estimates.

Johnson & Johnson has a deep bench of therapies that generate well more than $1 billion in sales. Some of its most successful drugs, such as Stelara for plaque psoriasis treatment and Darzalex for cancer therapy, each generated over $2.2 billion in revenue during this period. The pharma’s future is not in any jeopardy.

Microsoft (MSFT)

Microsoft (NASDAQ:MSFT) has transformed itself into an AI stock. Not for developing any advances in the field but rather by infusing all of its products and services with OpenAI‘s ChatGPT. They have given the tech stock much more relevance in today’s market.

After aligning its Azure cloud services platform with AI, revenue shot ahead 24% year-over-year to $33 billion. A quarter of those gains were directly attributed to AI. The technology is also attracting new customers to the platform. Microsoft reported it has over 53,000 customers, a third of whom came to Azure within the past year.

The Bing search engine also got a dose of AI too. Although it hasn’t moved the needle yet against Alphabet‘s (NASDAQ:GOOG, NASDAQ:GOOGL), it is still early. Particularly after the debacle Google suffered with its own AI iteration Gemini, more attention may be paid to search services featuring ChatGPT. Google had to shut down the AI image generator due to controversial results showing the inherent bias of its programmers.

Microsoft one of the few Magnificent Seven stocks still worth buying in 2024. The tech company is arguably at its best operating performance ever. Its dividend also yields less than 1% but the software stock has been raising the payout at double-digit rates for over a decade. MSFT stock has hiked its dividend for 22 consecutive years, so it is on the cusp of becoming a Dividend Aristocrat.

JPMorgan Chase (JPM)

Banking giant JPMorgan Chase (NYSE:JPM) is last on our list of stocks to buy for a market crash. It is the preeminent financial institution that remained unphased by last year’s banking turmoil. Where the regional banking crisis saw several banks fold or get seized by regulators, JPMorgan benefited from the situation. It actually rescued First Republic bank during the tumult allowing total assets to jump to $3.9 trillion at the end of 2023. JPM stock’s actions helped calm the markets much the way its namesake founder save the day when it bailed out the banking industry during the Panic of 1907.

Ffew institutions that can touch JPMorgan in investment and commercial banking, credit cards, and the other services it offers. It possesses scale, diversity, and solid risk management skills that give an unequaled competitive moat. JPM stock has an 11% dividend growth CAGR, though it has risen by lower percentages in more recent years. The dividend yields 2.3% annually.

On the date of publication, Rich Duprey held a LONG position in KO, MO, and JNJ stock. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.