Dividend stocks are a favorite asset class among a certain group of investors for their ability to provide steady passive income through regular cash payouts to shareholders. Additionally, many Dividend-paying companies have a history of increasing their dividends over time, helping investors keep pace with inflation and potentially grow their income over the years.

With that in mind, here are three top dividend-paying stocks poised to generate passive income for the foreseeable future.

Lowe's Companies (NYSE: LOW) stock is struggling in 2023, generating a total return of negative 3% year to date. One reason could be that sales growth and profitability for the home improvement retailer declined this year, in part because of tough comparisons to what was a relatively strong 2022 that benefitted from lower interest rates and a still healthy housing market. During the first half of 2023, Lowe's achieved $47 billion in net sales and $4.9 billion in net income; this was a 7.5% decrease in net sales and a 7.4% drop in net income compared to the first half of 2022.

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Source Fool.com