12 Best Dividend Kings to Buy For Safe Dividend Growth

5. Abbott Laboratories (NYSE:ABT)

5-Year Average Annual Dividend Growth Rate: 11.16%

Abbott Laboratories (NYSE:ABT) ranks fifth on our list of the best dividend kings for safe dividend growth. The American medical device company offers services and products in diagnostics, nutrition, and established pharmaceuticals. What makes it a particularly stable and secure investment is the broad diversification of its operations. The stock has surged by nearly 10% since the start of 2025.

In the fourth quarter of 2024, Abbott Laboratories (NYSE:ABT) posted a revenue of $11 billion, marking a year-over-year increase of over 7%. However, the result came in slightly below Wall Street estimates, missing expectations by more than $57 million. Still, the company showed steady progress over the course of the year.

For the full year, Abbott Laboratories (NYSE:ABT) hit the upper end of its original January guidance for both organic sales growth and adjusted earnings per share. Backed by robust research and development, the company introduced over 15 new growth initiatives in 2024, which included newly approved products and expanded uses for existing treatments.

Abbott Laboratories (NYSE:ABT) offers a quarterly dividend of $0.59 per share for a dividend yield of 1.90%, as of April 4. The company has raised its payouts for 53 consecutive years, with a five-year average annual dividend growth rate of over 11%.