Stocks like Pfizer, Ares Capital, and Bristol Myers Squibb have emerged as highly reliable dividend options for income-seeking investors, even as the benchmark S&P 500 index continues to reach new records. With reasonably valued shares and an average dividend yield of about 7% at recent prices, these stocks offer potential for consistent dividends and future growth.

Pfizer, a pharmaceutical giant, currently offers a juicy 6% yield, supported by profits from sales of innovative new drugs. The company has an impressive track record of raising its dividend payout for 15 consecutive years, and this trend is projected to continue for at least another decade. Pfizer's acquisition of Seagen in 2023, which provided access to four commercial-stage cancer drugs including Padcev, has significantly boosted its potential revenue sources. The recent FDA approval of Padcev for the treatment of advanced-stage bladder cancer in newly diagnosed patients further enhances Pfizer's growth prospects.

Ares Capital, a business development company (BDC), distributes nearly all its profits to investors as dividends. Though its dividend growth hasn't been linear, it has increased by 26% over the past decade. Currently offering an impressive 9.2% yield, Ares Capital's unique advantage lies in its ability to provide high-interest loans to midsize companies, filling the gap left by larger banks' reluctance to lend to such businesses. With an extensive investment portfolio worth $23.1 billion and relationships with numerous mid-market businesses, Ares Capital is well-positioned to select borrowers most likely to repay their debts, as evidenced by the low 0.7% of investments on non-accrual status.

Bristol Myers Squibb, another major drugmaker, boasts a 15-year consecutive annual dividend-raising streak. Despite a reduction in its earnings outlook for 2024, attributed to accounting for $12.9 billion in research and development expenses from recent acquisitions, the stock still offers a significant dividend yield of 5.9%. Bristol Myers Squibb's portfolio of recently launched drugs reported an 11% growth in sales during the first quarter, with the potential for contributions from recent acquisitions to further fuel its dividend growth for the next 15 years. This makes it an attractive addition to income-generating portfolios.

While these dividend stocks present enticing opportunities, it's crucial to note that The Motley Fool Stock Advisor analyst team has identified other stocks as the top picks for investors to consider. Their selected stocks have the potential to produce substantial returns in the coming years, as exemplified by past recommendations such as Nvidia. Investors are advised to weigh their options carefully and consider expert advice when building their portfolios.

In conclusion, amidst the current market surge, dividend stocks like Pfizer, Ares Capital, and Bristol Myers Squibb provide income-seeking investors with reliable investment opportunities. These stocks offer reasonably valued shares and attractive dividend yields. With impressive track records of dividend raises and potential for future growth, these stocks present promising choices for income investors looking for stable returns.