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I'm also accumulating stocks for dividends. The answer to your question really depends on one's risk appetite and strategy (so there's no one correct answer). One of the stocks I'm accumulating is AP; it's fairly conservative, not very high on cash dividends compared to other stocks, but relatively stable.
Selling them also depends on each person's strategy. I admire your long term vision of holding it for 15+ years, but for me personally, when directly investing in the stock market, my preference is to cut my losses at 15% and sell at 20% (stock price movement regardless of dividends). So with those conditions, my stock picks rarely reach more than 3 years. But I don't do day trading, because it's not worth the stress. I like to sleep soundly at night and not worry about my investments on a day to day basis.
For long term hold of more than 5 years, I usually just put it in certain funds and just forget about it. During these cheap times, I'm specifically putting an amount on a regular basis to BPI's High Dividend fund. But again, these are personal preferences. :)
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