Johnson & Johnson Increases Dividend By 6.6%
Date
4/19/2022 2:15:05 PM
(MENAFN- Baystreet.ca)
Johnson & Johnson Increases Dividend By 6.6%
Johnson & Johnson (JNJ) has announced that its Board of Directors has approved a 6.6% increase in the company's quarterly dividend, raising it to $1.13 per share from $1.06 previously.
“In recognition of our 2021 results, strong financial position, and confidence in the future of Johnson & Johnson, the Board of Directors has voted to increase the quarterly dividend for the 60th consecutive year,” said Joaquin Duato Chief Executive Officer of Johnson & Johnson in a news release.
At the new rate, Johnson & Johnson's annual dividend rises to $4.52 per share compared to the previous rate of $4.24.
The next quarterly dividend from Johnson & Johnson is payable on June 7 to shareholders of record as of the close of business on May 24. The ex-dividend date is May 23, the company said.
The dividend increase comes as Johnson & Johnson posted stronger-than-expected first quarter earnings.
Johnson & Johnson said adjusted earnings for the three months ending March 31 came in at $2.67 U.S. per share, up 3% from the same period last year and $0.08 ahead of the consensus forecast of analysts.
Johnson & Johnson said its Q1 revenue rose 45% to $23.43 billion U.S., a figure that just missed analysts' estimates of a $23.6 billion U.S.
Looking ahead, Johnson & Johnson said it sees adjusted earnings for all of this year in a range of $10.15 U.S. to $10.35 U.S. per share, down from its prior forecast of $10.40 U.S. to $10.60 U.S. per share as demand for vaccines slows.
MENAFN19042022000212011056ID1104052726
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.