Tuesday, April 16th the Board of Directors of Johnson & Johnson (JNJ) announced a quarterly dividend increase of from $1.19 to $1.24 per share that’s payable June 4, 2024 to holders of record May 21, 2024. This represents a 4.20% increase over the last quarter dividend.
With current price $145.01 (today's open), this raise brings their dividend yield to 3.42%.
Johnson & Johnson is a Dividend Champions with a 62 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 5.6, 5.7, 5.8 and 6.1 (Dividend Champions.xls)
Since I own 60 shares of JNJ, this will increase my portfolio's projected annual net dividend income by $8.94.
I was expecting an increase of about 6%, so this increase was a bit disappointing, but an increase is always an increase and I accept it.
This is the tenth dividend increase I've received from Johnson & Johnson since initiating a position in February 2015. During that period, the quarterly dividend has grown acceptably from $0.66 to $1.24, or 87.9 percent.
This increase raises my Yield on Cost to 5.08%.
Summary of 2024 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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