Market Overview

Johnson & Johnson Boosts Dividend By 6.7%

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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.

Posted-In: News Dividends

 

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