2 Dividend Stocks to Buy for Decades of Passive Income

Since then, both have duced strong returns and have been great picks for income-seeking investors, thanks to consistent payout hikes

That ly won't change soon

These healthcare leaders should continue to perform well and reward holders with dividend increases for a long time

Read on to find out more

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AbbVie AbbVie is a pharmaceutical leader with a large portfolio of apved ducts, none more important than a duo of immunology medicines: Skyrizi and Rinvoq

These results are all the more impressive considering AbbVie faced a major patent cliff just two years ago; however, it has since recovered, largely thanks to Skyrizi and Rinvoq

Although they will eventually lose patent tection, they demonstrate AbbVie's ability to navigate even the biggest patent cliffs, a quality that is essential for any pharmaceutical company to thrive over the long term

AbbVie has other ducts that help drive revenue growth, and, equally important, it has a deep pipeline that it routinely strengthens through acquisitions

In March, the company announced a licensing deal with Denmark-based Gubra A/S for GUB014295, an investigational weight management therapy

And counting the time it spent under Abbott Laboratories' name, AbbVie is a Dividend King with 53 consecutive years of payout increases

These facts, from AbbVie's underlying to the company's dividend track record, point to a company capable of sustaining a passive income gram for a long time

Abbott Laboratories Abbott Laboratories is best known for its leadership in the medical device space, where it dozens of ducts across multiple therapeutic areas

The company also operates a diagnostic and has a presence in the pharmaceutical and nutrition industries

Abbott Laboratories' operations are diversified, which can help it overcome challenges in specific segments

That's one of the company's strengths

Here's another: Abbott Laboratories has been a leader in the highly regulated healthcare sector for decades

The company has built a solid reputation with physicians and consumers, all of whom are more ly to gravitate toward the brands they know and trust

In the medical device field, Abbott is a trusted brand

And thanks to its vast portfolio, it generates consistent revenue and earnings

Abbott's biggest growth driver in recent years has been its diabetes care segment, led by its continuous glucose monitoring (CGM) franchise, the FreeStyle Libre

As the company noted, the FreeStyle Libre has become the most successful medical device in history in terms of dollar sales

Yet there is still massive whitespace ahead, since only a small portion of the world's diabetics use CGM nology despite its advantages

Abbott's work in this niche should vide a powerful long-term tailwind, but there will be many others

The company boasts other growth drivers, including its structural heart segment, where it a range of successful devices, such as its MitraClip device, a leader in its mitral valve repair niche

Beyond any single duct, Abbott Laboratories has a ven track record as an innovator and should continue launching newer and better ones

Abbott Laboratories' is built to last

Investors who purchase the company's s today can expect consistent dividend growth over the long term

Sper Junior Bakiny has no position in any of the stocks mentioned

The Motley Fool has positions in and recommends AbbVie and Abbott Laboratories

The Motley Fool has a disclosure policy.