Four Dividend Kings, companies that have raised payouts for at least 50 years in a row, stand out for retirees who want growing income, according to a review of dividend safety and cash flow. The four are Emerson Electric, Cincinnati Financial, Johnson & Johnson, and Coca-Cola. Emerson has the longest streak, entering its 71st year after a 7% raise to $0.595 a quarter. The dividend uses about 34% of expected free cash flow, though the stock is the most sensitive to the economy. Cincinnati Financial pays out just 22% of earnings. Johnson & Johnson raised its quarterly dividend 3.1% to $1.34, its 64th straight year of increases. Coca-Cola offers the highest yield, about 2.20%, backed by net debt of 1.3 times EBITDA.

Splitting $250,000 equally across Procter & Gamble, Coca-Cola, and Johnson & Johnson would yield about $5,581 a year in dividends, a blended yield of 2.23%. Each stake would be $83,333.33. All three are Dividend Kings. P&G has raised its payout for 70 straight years, Johnson & Johnson for 64, and Coca-Cola for 63. P&G would pay $2,153.57 a year at a 2.58% forward yield. Coca-Cola would add $1,823.56 at 2.19%, and Johnson & Johnson $1,603.83 at 1.92%. Johnson & Johnson's yield is lowest because its shares have gained 36.74% this year. Coca-Cola's have risen 41.28%, and P&G's 20.95%. Risks include biosimilar competition for Johnson & Johnson's STELARA, Coca-Cola's IRS tax litigation, and P&G's commodity costs of about $1.4 billion after tax.

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