Wednesday, April 19, 2023

Dividend Increase - Johnson & Johnson (JNJ)


Tuesday, April 18th the Board of Directors of Johnson & Johnson (JNJ) announced a quarterly dividend increase of from $1.13 to $1.19 per share that’s payable June 6, 2023 to holders of record May 23, 2023. This represents a 5.31% increase over the last quarter dividend.

“In recognition of our 2022 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 61st consecutive year,” said Joaquin Duato, Chairman of the Board and Chief Executive Officer of the company.

With current price $161.01 (yesterday's close), this raise brings their dividend yield to 2.96%.

Johnson & Johnson is a Dividend Champions with a 61 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 6.2, 5.9, 6.0 and 6.4 (Dividend Champions.xls)

Since I own 60 shares of JNJ, this will increase my portfolio's projected annual net dividend income by $10.73.

I was expecting an increase of about 6%, so this increase was a little lower than I expected but I am happy to take it.

This is the ninth 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 $1.19, or 80.3 percent.

This increase raises my YoC to 4.87%.

Summary of 2023 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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