15 Best Dividend Stocks to Buy for Long-Term Passive Income

2. Starbucks Corporation (NASDAQ:SBUX)

Number of Hedge Fund Holders: 84

Starbucks Corporation (NASDAQ:SBUX) ranks second on our list of the best dividend stocks for passive income. The American multinational chain of coffeehouses and roastery reserves is headquartered in Washington. Starbucks’ brand continues to be its greatest strength, providing a solid foundation for the leadership team to build upon. Since stepping in as CEO in September, Brian Niccol has introduced a “Back to Starbucks” initiative aimed at realigning the company’s direction.

In the first quarter of fiscal 2025, Starbucks Corporation (NASDAQ:SBUX) reported consolidated net revenue of $9.4 billion, holding steady year over year when adjusted for currency fluctuations. The company expanded its footprint by opening 377 new stores during the quarter, increasing its global presence to 40,576 locations. Of these, 53% are directly operated by the company, while the remaining 47% are run through licensing partnerships. By quarter’s end, the US and China accounted for 61% of Starbucks’ global store base, with 17,049 stores in the US and 7,685 in China.

A consistent performer among dividend-paying companies, Starbucks Corporation (NASDAQ:SBUX) has distributed regular dividends for 59 straight quarters. Over this period, its payouts have grown at a compound annual growth rate of 20%, with dividend increases maintained for 14 consecutive years. Its quarterly dividend comes in at $0.61 per share for a dividend yield of 2.91%, as of April 24.