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Johnson & Johnson (NYSE: JNJ) revealed that its Board of Directors has declared a 6.7 percent increase in the quarterly dividend rate, to $0.80 per share from $0.75 per share. According to the company, the increase was disclosed at the Annual Meeting of Shareholders in New Brunswick, N.J. on Thursday morning.
Johnson & Johnson Chairman and CEO Alex Gorsky said,"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."
The FMCG firm said at the new rate, the dividend worked out $3.20 per share on an annualized basis compared to the previous rate of $3.00 per share. The company said that the next quarterly dividend would be payable on June 7 to its shareholders. For that purpose, it has fixed record date as May 24 to determine the shareholders' name. The company indicated that the stock would turn to ex-dividend on May 20.
The stock traded 0.33 percent down on Thursday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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