Wednesday, April 21, 2021

Dividend Increase #38 of 2021 - Johnson & Johnson (JNJ)


Tuesday, April 20th the Board of Directors of Johnson & Johnson (JNJ) announced a quarterly dividend increase of from $ 1.01 to $ 1.06 per share that’s payable June 8, 2021 to holders of record May 25, 2021. This represents a 4.95% increase over the last quarterly dividend.


“Despite a year of unprecedented disruption, Johnson & Johnson remained committed to its established financial principles that strengthen our ability to drive long-term value for stakeholders. In recognition of our notable 2020 results, strong financial position and confidence in the future of Johnson & Johnson, the Board of Directors has voted to increase the quarterly dividend for the 59th consecutive year,” said Alex Gorsky, Chairman and Chief Executive Officer of the company.


With current price $ 166.48 (Yesterday's close), this raise brings their dividend yield to 2.55%.


Johnson & Johnson is a Dividend Champions with a 59 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 6.1, 6.2, 6.2 and 6.6 (Dividend Champions.xls)



Since I own 60 shares of JNJ, this will increase my portfolio's projected annual net dividend income by $ 8.94.


This increase was a bit disappointing, I was expecting about a six per cent increase, but I will be happy to accept this as well.


This is the seventh dividend increase I've received from Johnson & Johnson since initiating a position in February 2015. During that period, the quarterly dividend has grown as expected from $ 0.66 to $ 1.06, or 60.6 percent.


This increase raises my YOC to 4.14%.



Summary of 2021 Dividend Increases / Cuts



Click here to see my portfolio holdings.


You can follow the development of my dividends here.


Full Disclosure: Long JNJ


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