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Dividend investing is ultimately about replacing your working income with a passive income stream for a secure retirement and financial freedom. The reality of inflation means your income stream can’t just be static.

To build a perpetual dividend machine, investors should focus on quality dividend stocks that display a few key characteristics. For example, stocks must pay dividends to create income, and the higher the yield the better. Stocks must also have dividend growth potential. Lastly, stocks must have safe dividends, so that investors are likely to see stable or growing income during a recession.

Dividend investments should be safe, growing income securities with at least decent yields. The following 3 perpetual income stocks have high yields and growing dividends.

Norwood Financial (NWFL)

Norwood Financial Corp. (NWFL) is a bank holding company that operates through its subsidiary, Wayne Bank. The company is an independent community bank with over 14 offices in Northeastern Pennsylvania and approximately 16 offices in Delaware, Sullivan, Ontario, Otsego and Yates Counties, New York.

It offers a range of personal and business credit services, trust and investment products, and real estate settlement services to the consumers, businesses, nonprofit organizations and municipalities in each of the communities that the company serves. It operates a Wealth Management/Trust Department, which provides estate planning, investment management and financial planning to customers.

As of June 30th, 2025, Norwood Financial Corp. had total assets of $2.37 billion, loans outstanding of $1.79 billion, and total deposits of $2.0 billion. The company was founded in 1870 and has 264 employees.

On July 22nd, 2025, Norwood Financial Corp. released its second quarter results for the period ending June 30th, 2025. For the quarter, the company reported a net income of $6.2 million, up from $5.8 million in the first quarter of 2025 and $4.2 million in the second quarter of 2024.

Reported quarterly earnings per diluted share were $0.67, compared to $0.63 in Q1 2025 and $0.52 in Q2 2024. The improved earnings reflect continued momentum following the strategic investment portfolio repositioning undertaken in the fourth quarter of 2024.

Net interest income on a fully taxable equivalent (FTE) basis was $19.3 million during the quarter, an increase from $18.1 million in Q1 2025 (+6.6%) and $15.1 million in Q2 2024 (+27.7%). The FTE-yield on interest-earning assets for the second quarter of 2025 was 5.60%, up from 5.54% in Q1 2025 and 5.17% in Q2 2024.

NWFL has increased its dividend for 33 consecutive years.

Sonoco Products (SON)

Sonoco Products provides packaging, industrial products and supply chain services to its customers. The markets that use the company’s products include those in the appliances, electronics, beverage, construction and food industries.

The company generates over $5 billion in annual sales. Sonoco Products is now composed of 2 major segments, Consumer Packaging, and Industrial Packaging, with all other businesses listed as “All Other”.

On April 16th, 2025, Sonoco Products raised its quarterly dividend 1.9% to $0.53, extending the company’s dividend growth streak to 49 consecutive years.

On July 23rd, 2025, Sonoco Products announced second quarter results for the period ending June 29th, 2025. For the quarter, revenue grew 17.9% to $1.91 billion, which was in-line with estimates. Adjusted earnings-per-share of $1.37 compared to $1.28 in the prior year, but was $0.08 less than expected.

Revenues and earnings benefited from the addition of Eviosys. For the quarter, Consumer Packaging revenues surged 110% to $1.23 billion, mostly due to contributions from Eviosys.

Volume growth was strong and favorable currency exchange rates also aided results. Industrial Paper Packing sales fell 2% to $588 million due to the impact of foreign currency exchange rates and lower volume following two plant divestitures in China last year.

T. Rowe Price Group (TROW)

T. Rowe Price Group is one of the largest publicly traded asset managers. The company provides a broad array of mutual funds, sub-advisory services, and separate account management for individual and institutional investors, retirement plans and financial intermediaries.

T. Rowe Price had assets under management (AUM) of nearly $1.6 trillion as of June 30th, 2025.

On February 11th, 2025, T. Rowe Price raised its quarterly dividend 2.4% to $1.27, marking the company’s 39th year of increasing its payout.

On August 1st, 2025, T. Rowe Price announced second quarter results for the period ending June 30th, 2025. For the quarter, revenue declined 0.6% to $1.72 billion and missed estimates by $30 million. Adjusted earnings-per-share of $2.24 compared unfavorably to $2.26 in the prior year, but this was $0.11 more than anticipated.

During the quarter, AUMs of $1.59 billion grew 3.6% year-over-year, but decreased 1.9% sequentially. Market appreciation of $125.4 billion was offset by net cash outflows of $14.9 billion. Operating expenses of $1.23 billion increased 6.5% year-over-year and were up 6.6% quarter-over-quarter.

TROW has increased its dividend for 39 consecutive years.

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