Johnson & Johnson Boosts Dividend 7%; Marks 50 Years of Consecutive Increases (JNJ)

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Diversified healthcare giant Johnson & Johnson ( JNJ ) on Thursday announced at its annual shareholder meeting that it would raise its quarterly dividend payout by 7%.

The New Brunswick-based company's board of directors approved the higher payout of 61 cents per share, up from 57 cents per share previously. The new dividend will be paid on June 12 to shareholders of record as of May 29.

CEO William C. Weldon commented, "In recognition of our 2011 results, our strong financial position, and confidence in the future of Johnson & Johnson, the Board has voted to increase the dividend for the 50th consecutive year."

Johnson & Johnson shares posted modest gains in late morning trading Thursday.

The Bottom Line
Shares of Johnson & Johnson ( JNJ ) will now have a 3.79% dividend yield, based on the higher dividend payout and last night's closing stock price of $64.43. The stock has technical support in the $60-$61 price area. If the shares can firm up, we see overhead resistance around the $66 price level.

Johnson & Johnson ( JNJ ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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