Yahoo Finance analysis indicates that despite the 10-year U.S. Treasury yield closing at a high of 4.79% on September 2, 2026, "Dividend King" companies Coca-Cola (KO), Procter & Gamble (PG), and Johnson & Johnson (JNJ), all of which have increased dividends for over 50 consecutive years, continue to raise payouts in a rising interest rate environment. Specifically:

Coca-Cola (KO): During the interest rate hike period from March 17, 2022, to July 27, 2023, its stock price rose by 7.8%, quarterly dividends increased from $0.44 to $0.46, and its 2026 free cash flow guidance was raised to approximately $12.4 billion.
Procter & Gamble (PG): Despite a 4.42% decline in its stock price over the past year, quarterly dividends still increased from $1.0568 to $1.0885, with a commitment to distribute over $10 billion in dividends and approximately $5 billion in share buybacks in fiscal year 2027.
Johnson & Johnson (JNJ): Has increased dividends for 64 consecutive years, with quarterly dividends rising from $1.06 in January 2022 to $1.34 in April 2026, and is projected to have free cash flow close to $21 billion.