2 Dividend Stocks to Buy in November and 1 to Leave on the Shelf

As we near the end of 2026, investors may want to consider rebalancing their portfolios. One way to do so is by adding dividend-paying stocks. Younger investors can use dividend reinvestment plans (DRIPs) to gradually build their positions in companies by using dividend payouts to buy additional shares of stock. Older investors can rely on dividends for a steady stream of income, with some companies like Coca-Cola and WD-40 recognized for their consistent dividend payouts.

According to research from The Motley Fool, retirees over 65 rely heavily on Social Security, with 91% listing it as a source of income. However, only 54% of retirees over 65 listed interest, dividends, or rental income as a source of cash generation. With that in mind, we'll take a look at two stocks that can provide strong income generation: Coca-Cola (KO -0.07%) and WD-40 (WDFC -2.43%).

While high-yield stocks are tempting, we'll also examine one high-yield name to avoid: Nike (NKE -2.30%). Coca-Cola and WD-40 have both held up well in 2026, with Coca-Cola shares up 37% and WD-40 stock climbing 16.4%. Both companies have businesses that people need or want, even during periods of uncertainty, which helps them generate substantial profits and pay reliable dividends.

Coca-Cola's dividend yield is 2.2%, while WD-40's is 1.8%. While neither company's dividend yield is the highest in the consumer stock space, their reliable payouts and recent stock price performance make them attractive options. Nike, on the other hand, is on the path to becoming more of an income stock, with a dividend yield of 4.2%.

However, Nike's revenue is expected to fall by a high-single-digit percentage in 2027, and the company is still struggling to revitalize its iconic brands. Therefore, I would recommend watching Nike from afar and focusing on Coca-Cola and WD-40 for their stability and reliability in providing dividends.