Johnson & Johnson (JNJ) will raise its dividend by 6.6% to $1.13 quarterly. This will mark 60 consecutive years of dividend increases.

Johnson & Johnson (NYSE: JNJ) today announced that its Board of Directors has declared a 6.6% increase in the quarterly dividend, from $1.06 per share to $1.13 per share. The new dividend yield for JNJ is 2.5% at a stock price of $183. The stock hit a fresh all-time high on Tuesday.

"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 the company.

At the new rate, the indicated dividend on an annual basis is $4.52 per share compared to the previous rate of $4.24 per share. The next quarterly dividend is payable on June 7, 2022 to shareholders of record as of the close of business on May 24, 2022. The ex-dividend date is May 23, 2022.

Johnson & Johnson is engaged in the research and development, manufacture and sale of a broad range of products in the health care field. The company's three business segments are: Consumer, Pharmaceutical and Medical Devices. Johnson & Johnson is a holding company with operating companies conducting business worldwide. The company was incorporated in the State of New Jersey in 1887. Johnson & Johnson has paid a dividend every year to shareholders since 1944.