Johnson & Johnson (NYSE: JNJ - News) today announced that its Board of Directors has declared a 6.5% increase in the quarterly dividend rate, from $0.46 per share to $0.49 per share. The increase was announced this morning at the Annual Meeting of Shareholders in New Brunswick, NJ.
"Given our strong financial position, confidence in the future of Johnson & Johnson, and in recognition of our solid results in 2008, the Board has voted to increase the dividend for the 47th consecutive year," said William C. Weldon, Chairman and Chief Executive Officer of the Company.
At the new rate, the indicated dividend on an annual basis is $1.96 per share compared to the previous rate of $1.84 per share. The next quarterly dividend is payable on June 9, 2009 to shareholders of record as of May 26, 2009.
Disclosure I am long JNJ shares.