The economy doesn’t always grow. Recessions occur when the economy contracts, which can have real consequences for consumers, businesses and the stock market. Although recessions are increasingly talked about in the media, no one knows when the next recession will come or how severe it will be. Investors can prepare their portfolios by looking for stocks with a proven long-term growth history.

Dividend stocks are great for this. Companies that have increased their dividends for the past 25 years in a row have done well enough to continue paying shareholders more despite recessions following the dot-com bubble, the financial crisis and the peak of the COVID-19 pandemic.

This can only be achieved by high-quality companies with lasting competitive advantages, prudent management teams and healthy fundamentals.

Here are three stocks from this group that investors can count on in good times and bad.

1.RTX-RX

Some industries may experience a downturn during economic weakness, but the defense and aerospace industries rarely come to a standstill. RTX (RTX -0.58%) is a leader in both sectors. The company was formed after a recent merger that combined Raytheon with United Technologies to create a three-person conglomerate. RTX’s core business includes building aerospace systems for private and military applications, engines for commercial and military aviation, and various defense and weapons systems for the military. Big mergers sometimes backfire, but RTX remains financially solid with an investment-grade credit rating.

RTX has a 31-year dividend growth streak that should continue for years to come. RTX will pay out $2.52 per share in dividends this year, less than half of the $5.44 analysts expect for the company. Moreover, those earnings are expected to grow at more than 10% annually over the next three to five years. Investors can enjoy a solid initial yield of 2.1% and reasonably expect double-digit increases.

Keep in mind that defense and aerospace are highly regulated industries with steady demand. The COVID-19 pandemic was an unprecedented event that brought the aerospace industry to a virtual standstill. It’s the only time in decades that RTX’s annual revenue has declined by 15% or more. And yet RTX increased its dividend. Investors can confidently hold this diversified dividend stock with long-term growth potential.

2. Sherwin-Williams

Paints and varnishes are remarkably simple products that generate recurring revenue in new construction, residential construction and renovations. Sherwin-Williams (SHW 0.74%) is an industry leader and a dividend rockstar with a 46-year streak of active dividend growth. There’s not much to paint, but Sherwin-Williams is a strong brand that resonates with do-it-yourselfers and building professionals alike. Sherwin-Williams sells its products through company-owned stores, retail outlets and distributors. It’s a boring business, but it has staying power; paints and coatings are unlikely to ever become obsolete.

Investors will not find a colossal initial yield here; Sherwin-Williams only yields 0.8%. However, the rapid rise in the share price compensates for this. The shares have the S&P500 over the past decade. The dividend is only a quarter of the company’s expected 2024 earnings, so there is plenty of room for future dividend increases that will easily outpace inflation.

Sherwin-Williams has been very consistent, with annual sales only declining by more than 10% once since the early 1990s. Investors looking for growth should view Sherwin-Williams as an explosive wealth creator with room to dramatically increase its dividend over the next decade and beyond.

3. NextEra Energy

Renewable energy has been growing steadily for decades, and leading renewable energy companies NextEra Energy (born 0.84%) has been a big winner. It operates wind and solar energy products, energy storage, and America’s largest electric utility, Florida Power & Light. The company issues debt and stock to finance its energy projects, but management generates enough capital gains to turn a profit and pay dividends to investors. NextEra’s growth and dividends have produced market-shattering total returns since the 1980s, even as its share count has doubled.

The company has increased its dividend for 31 consecutive years. Investors will receive $2.06 for each share they own this year, or about 65% of NextEra’s expected earnings per share. Investors don’t have to worry about management continuing to cut dividend checks; NextEra’s utility business is virtually recession-proof, as people will always need electricity and renewable energy is becoming increasingly important.

Today, wind and solar power provide only 13% of all American electricity, but that share is set to rise. This rising tide will impact all renewable energy companies, but NextEra’s title as the world’s leading producer all but guarantees that the company will continue to grow well into the future.