ITW is a textbook example of an effective industrial conglomerate. Dividend stocks can be excellent investments to generate passive income. The best dividend-paying companies have steady earnings growth, and in turn, they increase their payouts to shareholders. The elite among them eventually may earn entry into the category of Dividend Kings -- companies that have raised their payouts annually for at least 50 consecutive years. In addition to being a Dividend King, PepsiCo (PEP -1.24%) has a yield of 3.3% ...