This company has a lot of cash. And I mean A LOT OF CASH. Even if the business didn’t generate one dollar in cash flow, it could still pay the dividend for five years based on its balance sheet figure… and for 16 years if you include all of its foreign-held cash.
In short, it has seen taxes raised and lowered, accounting standards changed, presidential assassinations and scandals, recessions, and war. And through it all, it has raised its dividend every single year.