Johnson & Johnson raises dividend for 54th consecutive year

Johnson & Johnson (JNJ) will raise its dividend by 6.7%.

The quarterly dividend will be raised to $0.80 per share, marking 54 years of consecutive dividend increases by Dividend Aristocrat Johnson & Johnson.

"In recognition of our 2015 results, strong financial position and confidence in the future of Johnson & Johnson, the Board has voted to increase the quarterly dividend for the 54th consecutive year," said Alex Gorsky, Chairman and Chief Executive Officer of the company.

At the new rate, the indicated dividend on an annual basis is $3.20 per share compared to the previous rate of $3.00 per share. The next quarterly dividend is payable on June 7, 2016 to shareholders of record as of the close of business on May 24, 2016. The ex-dividend date is May 20, 2016.

The estimated dividend yield for Johnson & Johnson is 2.8% based on the current stock price of $112.44.

Source: Johnson & Johnson

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