Income investors looking for safe dividends should consider dividend growth stocks, such as the Dividend Kings. Dividend powerhouses are companies that have maintained long histories of increasing their dividends each year, even during recessions.

And when it comes to dividend powerhouses, there are no better stocks to choose from than the Dividend Kings. The following 3 dividend powerhouses are attractive dividend growth stocks with recession-proof dividends.

PPG Industries (PPG)

PPG Industries is the world’s largest paints and coatings company. Its only competitors of similar size are Sherwin-Williams and Dutch paint company Akzo Nobel.

PPG Industries was founded in 1883 as a manufacturer and distributor of glass (its name stands for Pittsburgh Plate Glass) and today has approximately 3,500 technical employees located in more than 70 countries at 100 locations.

On January 31st, 2025, PPG Industries announced fourth quarter and full year results for the period ending December 31st, 2024. For the quarter, revenue declined 4.6% to $3.73 billion and missed estimates by $241 million.

Adjusted net income of $375 million, or $1.61 per share, compared favorably to adjusted net income of $372 million, or $1.56 per share, in the prior year. Adjusted earnings-per-share was $0.02 below expectations.

For the year, revenue from continuing operations decreased 2% to $15.8 billion while adjusted earnings-per-share totaled $7.87.

PPG Industries repurchased ~$750 million worth of shares during 2024 and has $2.8 billion, or ~10.3% of its current market capitalization, remaining on its share repurchase authorization. The company expects to repurchase ~$400 million worth of shares in Q1 2025.

For 2025, the company expects adjusted earnings-per-share in a range of $7.75 to $8.05.

PPG has increased its dividend for 53 years, making it a Dividend King. The stock has an attractive current yield of 2.4%. In addition, the stock appears undervalued, trading for a 2025 P/E of 14.5.

Consolidated Edison (ED)

Consolidated Edison is a holding company that delivers electricity, natural gas, and steam to its customers in New York City and Westchester County. The company has annual revenues of nearly $16 billion. 

Average rate base balances are still expected to grow by 6.4% annually over the next five years, up from 6% previously. Consolidated Edison continues to expect capital investments of nearly $28 billion for the 2024 to 2028 period. 

The company expects 5% to 7% earnings growth per year over the next five years.

Thanks to rate hikes and population growth, the company has been able to raise its dividend for nearly five decades. Consolidated Edison initiated its biggest investment program in its history last year. It has completed its installation smart meters in its network. This will help customers optimize energy use while the company will be able to realize lower peak demand and thus reduce its operating cost.

Just like most other utilities, thanks to its heavy investments in infrastructure, Consolidated Edison is typically allowed by the regulatory authorities to raise its rates. As a result, it enjoys reliable cash flows and can thus service its debt. 

One key competitive advantage for Consolidated Edison is that consumers do not curtail their electricity consumption even during the roughest economic periods, so the stock is resilient during recessions.

Kenvue Inc. (KVUE)

Kenvue Inc. (KVUE) is a consumer healthcare company that was spun off from Johnson & Johnson. Kenvue has three segments, including Self Care, Skin Health and Beauty, and Essential Health. 

Self-Care’s product portfolio includes cough, cold, allergy, smoking cessation, and pain care products among others. Skin Health and Beauty holds products such as face, body, hair, and sun care. Essential Health contains products for women’s health, wound care, oral care, and baby care. Well-known brands in Kenvue’s product line up include Tylenol, Listerine, Band-Aid, Neutrogena, Nicorette, and Zyrtec. These businesses contributed approximately 17% of Johnson & Johnson’s annual revenue. 

While Kenvue is a new, standalone business, it carries Johnson & Johnson’s 60+ year dividend increase streak. On July 25th, 2024, Kenvue announced that it was raising its quarterly dividend 2.5% to $0.205. 

On February 6^th, the company released fourth-quarter and full-year financial results. Fourth-quarter net sales declined 0.1% year-over-year, although organic sales increased 1.7%, offset by unfavorable currency translation. Fourth-quarter adjusted diluted earnings per share fell to $0.26 from $0.31 in the prior-year period. 

For the full year, net sales rose 0.1% due to organic growth of 1.5%, partially offset by currency translation. Organic sales growth was driven by 2.7% price increases, partially offset by 1.2% volume decline.

For 2024, Kenvue’s adjusted diluted earnings per share were $1.14, a decline from $1.29 in 2023.

Kenvue consists of just the consumer products businesses, which often produced the lowest levels of growth. Therefore, we expect that Kenvue will grow earnings-per share by 3% annually through 2030. KVUE stock currently yields 4.0%.