Unlike many of your picks AXP, I'm not at all excited about KO or its prospects. WEB can't sell it for the taxes; this stock has been dead money (but for the dividend) for more than 15 years and for good reasons. Despite years of "worldwide growth potential" its not growing very fast and its not particularly cheap, even at current prices. There are far better prospects out there.
I would like to buy more MO if it trades at 36 or lower before the next dividend in March so I sold the Feb, 28, 36.5 put options for $.59/share today in IRA #3. If the shares are put to me the dividend yield should be over 5.5% by next September, but regardless what happens I'll keep the option premium which gives me a one month return of 1.6%
KO should raise its dividend to $1.2 per share in March which gives you a yield of 3%, but in my opinion both KO and MO are going to grow at about the same rate so I'd rather be adding to my MO holdings over KO because it trades at a lower P/E and has a much higher dividend yield. In my opinion KO is a hold until it trades at 35 or another year goes by and it's still priced the same.