Success in business is challenging. Most new ventures don't last more than a decade. A few select companies survive and thrive for several decades. Fewer still go above and beyond by maintaining a healthy, growing dividend program throughout long periods; only incredibly strong companies can pull that off.

If you're in the market for this type of investment, let's consider two excellent choices: Abbott Laboratories (ABT -0.24%) and Johnson & Johnson (JNJ -0.36%). These healthcare giants are passive income machines worth holding onto for good.

1. Abbott Laboratories

Abbott Laboratories, a medical device specialist, has been raising its payouts for more than five decades: The company's streak of 51 consecutive annual increases makes it a Dividend King.

The secret behind Abbott's success is a steady, reliable, and predictable business. Physicians routinely use and prescribe its extensive portfolio of medical devices and diagnostic solutions for various conditions, some relatively benign, others life-threatening. Neither doctors nor patients want to skimp on products that could meaningfully improve health outcomes.

Abbott also continues to grind out regulatory clearances for new medical devices, thanks to the culture of innovation it has fostered over the years. The company's newest regulatory wins include a pair of over-the-counter continuous glucose monitoring (CGM) devices, the Lingo and the Libre Rio, along with the Aveir Leadless Pacemaker.

Financial results continue to be strong. In the third quarter, sales grew by 4.9% year over year to $10.6 billion, despite the diagnostics segment still moving in the wrong direction as sales of COVID-19 tests continue to drop. Excluding this unit, which shouldn't be part of the company's long-term growth plans, sales increased by 8.2% year over year organically. Abbott's diabetes care segment, arguably its most important growth driver, reported sales of $1.7 billion, up 17.1% compared to the year-ago period.

The company's CGM franchise, the FreeStyle Libre, still has massive growth fuel worldwide: Among the half a billion adults with diabetes, most don't have access to CGM technology. Beyond CGM, Abbott will find new growth avenues through innovation, just as it has in the past.

The business should be strong enough to support dividend hikes for a long time. Abbott's cash payout ratio is just over 65%, which leaves room for more increases. Its forward yield tops 1.9%, beating the S&P 500's average of 1.3%.

If you're looking for a safe dividend stock to hold onto for good, you should strongly consider Abbott Laboratories.

2. Johnson & Johnson

Johnson & Johnson is another healthcare leader that has been rewarding shareholders for a long time. The pharmaceutical company is also a Dividend King, having raised its payouts for 62 consecutive years.

Though some investors might doubt J&J's ability to continue that streak for a while, given the legal and regulatory issues it faces, I'm not particularly worried as a shareholder. Changes in the regulatory landscape are nothing new for Johnson & Johnson. It's experienced plenty of major ones in its long history and has continued to perform well. There's a simple reason behind this.

The business, though not fancy, still delivers consistent financial results. In the third quarter, net sales grew by 5.2% year over year to $22.5 billion. Johnson & Johnson's portfolio features such growth drivers as cancer medicines Darzalex and Erleada, despite the decelerating sales of some of its older drugs. And the company's medical devices unit makes the business more diversified.

J&J has a deep pipeline with dozens of ongoing programs. The company generally records at least a few clinical or regulatory wins every quarter. During the third quarter, it earned label expansions for Rybrevant in treating second-line advanced lung cancer and Tremfya for moderately to severe active ulcerative colitis.

Furthermore, Johnson & Johnson boasts a higher credit rating than the U.S. government, which is strong evidence of its rock-solid balance sheet.

Johnson & Johnson's forward yield is now around 3%, and its cash payout ratio is over 58%. You can take this dividend straight to the bank.