rewrite this title and make it good for SEO3 Dividend Kings to Buy in July

Quick Read

P&G delivered its 70th consecutive dividend hike; GPC surged 20% in a month with a tax-free spin-off into two companies targeting Q1 2027.

Altria yields 6% with shares up 33% year to date, though cigarette volume fell 5% and NJOY ACE remains blocked by the ITC.

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Dividend Kings, companies with at least 50 consecutive years of dividend increases, are the quiet backbone of an income portfolio. Heading into July, three of them stand out for different reasons: One is the textbook compounding consumer staple, one is a turnaround with a catalyst on the clock and one is the high-yield income workhorse.

Here is the bull case for each.

Procter & Gamble (NYSE: PG)

Procter & Gamble (NYSE:PG) is the cleanest Dividend King in the group. The company just delivered its 70th consecutive annual dividend increase and has paid a dividend every year since 1890. At a recent price of $151.08, the stock yields roughly 3% and trades at a forward P/E of 21x.

The bull case is operational momentum. Q3 FY26 was the fourth consecutive top- and bottom-line beat, with core EPS of $1.59 against a $1.5552 estimate and net sales of $21.23 billion, up 7% year over year. Growth was broad: Beauty +11%, Grooming +7%, Health Care +7%, Fabric & Home Care +7%. CEO Shailesh Jejurikar described “a solid acceleration in top-line results…broad-based growth across product categories and regions.” Management plans to return roughly $10 billion in dividends and $5 billion in buybacks in FY26 and Wall Street’s average target sits at $163.52.

Risk: tariffs and commodities. P&G is absorbing a ~$400 million after-tax tariff headwind and ~$150 million commodity headwind, with core gross margin compressed 100 basis points. Guidance now points to the lower end of the $6.83 to $7.09 core EPS range.

Genuine Parts (NYSE: GPC)

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Genuine Parts (NYSE:GPC), the parent of NAPA, is the catalyst trade. Shares have ripped 20% in the past month to $117.67, yet the stock remains roughly flat year over year. The dividend streak now stands at 70 consecutive years, with the quarterly payout raised 3% to $1.0625, good for a yield near 4%.

The bull case has three legs. First, Q1 FY26 results came in “ahead of expectations,” with adjusted EPS of $1.77 on $6.26 billion in revenue and Industrial EBITDA margin expanding 90 basis points to 14%. Second, the planned tax-free separation into two independent public companies, Global Automotive and Global Industrial, is targeted for Q1 2027, and CEO Will Stengel called it a step “expected to unlock value for our stakeholders.” Third, DA Davidson initiated coverage with a Buy rating and a $145 target on June 23, citing the spin-off and NAPA cost-cutting. Forward P/E is just 15x.

Risk: execution. Q4 2025 missed badly at $1.55 adjusted EPS versus $1.81 expected, hit by a $741.97 million non-cash pension settlement charge and a $150.5 million credit loss tied to the First Brands supplier bankruptcy. The next read is Q2 2026 earnings on July 21.

Altria (NYSE: MO)

Altria (NYSE:MO) is the yield play. At $72.74, the stock pays a 6% dividend yield, trades at a trailing P/E of 15x, and has hiked the payout 60 times in the past 56 years. The most recent quarterly dividend was $1.06, paid July 10, 2026.

The bull case is cash flow. Q1 FY26 adjusted diluted EPS landed at $1.32 versus $1.25 expected, with revenue of $5.43 billion, up 20% year over year. Smokeable adjusted operating income rose 6% to $2.68 billion on pricing and contract manufactured export volume. CEO Billy Gifford said the company “delivered a strong start to the year, growing adjusted diluted EPS by 7% in the first quarter.” Altria returned $8 billion to shareholders in 2025 and reaffirmed FY26 adjusted EPS guidance of $5.56 to $5.72. Shares are up nearly 27% year to date.

Risk: secular cigarette volume decline. Domestic cigarette industry volume fell roughly 5%, Marlboro retail share slipped 1 point to 40%, and on! nicotine pouch share dropped 4 points to 13%. With NJOY ACE blocked by the ITC and not returning in 2026, the next-gen pivot remains the long-term overhang on an otherwise generous payout.

Three Different Roles for One Income Sleeve

Each fills a distinct role. P&G offers compounding quality at a premium multiple. Genuine Parts offers value with a defined corporate catalyst into 2027. Altria offers a near-6% yield with structural decline priced in. For July positioning, the GPC earnings report on July 21 is the most immediate event to monitor, followed by P&G’s FY26 close and any update on tariff pass-through.

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