
Three companies—Automatic Data Processing (ADP), Aflac, and Chevron—have each raised dividends annually for over 25 years, showcasing different business strengths. ADP benefits from steady payroll fees and strong client retention, Aflac relies on a robust insurance capital base and yen earnings, while Chevron combines oil cash flow with long-term contracted power sales. These firms highlight how dividend growth can come from varied sources, providing diversified income for investors. Risks include valuation for ADP, currency for Aflac, and commodity cycles for Chevron.