Today April 14 the Board of Directors of Johnson & Johnson announced a quarterly dividend increase of from $ 0.95 to $ 1.01 per share that’s payable June 9, 2020 to holders of record May 26, 2020. This is the 58th consecutive annual dividend increase authorized by the Johnson & Johnson, and represents a 6.32% increase over last year’s dividend.
“In recognition of our 2019 results, strong financial
position and confidence in the future of Johnson & Johnson, the Board has
voted to increase the quarterly dividend for the 58th consecutive year,” said Alex
Gorsky, Chairman and Chief Executive Officer of the company.
With current price $ 139.77 (yesterday's close), this
raise brings their dividend yield to 2.89%.
JNJ is a Dividend Champions with a 57 year streak of
dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 5.9, 6.0,
6.3 and 6.9. (Dividend
Champions.xls)
Since I own 60 shares of JNJ, this will increase my
portfolio's projected annual net dividend income by $ 10.73.
This increase raises my YOC to 4.14%.
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