Dividend stocks may not offer the exciting return prospects of growth stocks, but when stock market volatility returns, it is always nice to have extra cash automatically deposited in your account. That is the value of holding shares of strong companies with a long record of paying dividends to shareholders. It's even better when those companies regularly increase their dividends on top of already high yields.

Here are two rock-solid dividend stocks that you can buy and hold for years to come.

1. Coca-Cola

Shares of Coca-Cola (NYSE: KO) reached new highs this year following a string of strong earnings reports. Many consumer goods companies report sluggish sales growth right now, but Coke's focus on improving margins and earnings growth has bucked the trend and make it a great dividend stock to buy in 2024.

Despite a challenging macroeconomic environment, Coca-Cola's unit case volume grew 2% year over year in the second quarter. Management now expects full-year comparable currency-neutral earnings per share to be up between 13% and 15% over 2023. The company pays out over half of its adjusted earnings in dividends, so strong earnings growth bodes well for further dividend increases.

Coca-Cola has increased its dividend annually for 62 consecutive years. Double-digit earnings growth prospects in the near term should make it 63 and counting. The company currently pays a quarterly dividend of $0.485 per share, bringing the forward dividend yield to an above-average 2.69%, compared to the S&P 500 average yield of 1.32%.

Coke not only has attractive growth prospects in international markets, but management continues to allocate capital to maximize profitable growth. For example, its recent bottler refranchising efforts helped increase the company's return on invested capital -- a key measure of profitability -- to 24%, up 5 percentage points over the last three years.

The stock is up 21% year to date but still trades at a fair forward price-to-earnings ratio of 25. Its high dividend yield and future dividend increases should reward Coca-Cola shareholders for years to come.

2. Realty Income

Investing in real estate investment trusts (REITs) can be a great way to boost your portfolio's yield. That's because the tax structure REITs operate under requires them to distribute at least 90% of their taxable income to shareholders in dividends. That is part of why Realty Income (NYSE: O) is a quality REIT to hold for the long term.

Realty Income has a time-tested investment strategy. In fact, it has paid a monthly dividend for 55 years. In July, it increased its monthly payment to $0.263 per share, which brings the forward yield to 5.01%.