Procter & Gamble offers defensive dividend income with 136 years of unbroken payments and 70 consecutive years of dividend increases.

Procter & Gamble is scheduled to pay a quarterly dividend of almost $1.09 in May, extending a streak of 136 consecutive years of dividend payments and 70 consecutive years of dividend increases, making it a 'Dividend King' (a company with at least 50 straight years of dividend hikes).

The company's quarterly net income climbed by just 34% over the last decade, and analysts' consensus estimates project revenue to increase at a compound annual rate of 3% between fiscal 2025 and fiscal 2028, reflecting an extremely mature business with minimal growth expectations.

Procter & Gamble generated a trailing-10-year total return of 130% (as of April 23), compared with the S&P 500 index's 305% return, but offers defensive characteristics that reduce downside risk, including resistance to technological disruption and consistent performance through wars, economic crises, and pandemics.