Dividend Kings are among the most steady corporations on the market. While many businesses don't even last a decade, these companies have survived and thrived and raised their payouts for at least 50 consecutive years to become a member of this elite group.

Still, being a Dividend King does not make a company immune to challenges. Case in point: Abbott Laboratories (NYSE: ABT) and Johnson Johnson (NYSE: JNJ) are two members of this prominent clique that have lagged the market recently, partly due to company-specific concerns. But these longtime dividend payers remain excellent stocks to buy on the dip. Here's why.

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Source Fool.com