Yahoo Finance analysis indicates that Coca-Cola (KO), Johnson & Johnson (JNJ), and PepsiCo (PEP) are three dividend stocks suitable for Baby Boomer investors to hold for life. These companies boast decades of dividend growth, investment-grade balance sheets, and ample free cash flow to pay dividends even during economic downturns. Specifically, Johnson & Johnson has increased its dividend for 64 consecutive years, while Coca-Cola and PepsiCo have also raised their dividends for several decades each.