Johnson and Johnson announced dividend increase

A 10.8 per cent increase in the quarterly dividend rate has been announced by the board of directors at Johnson & Johnson.

The new dividend now stands at some 46 cents (23.3p) per share, up from 41.5 cents per share.

Speaking at the firm’s annual shareholder meeting in New Brunswick, New Jersey, chairman and chief executive officer of the firm William C Weldon noted that the increased dividend payment comes as a result of continued performance improvements.

“In recognition of our solid results in 2007, our strong financial position and our confidence in the future of Johnson & Johnson, the board has voted to increase the dividend for the 46th consecutive year,” said Mr Weldon.

The new dividend rate will be paid to shareholders of record at May 27th 2008 on June 10th 2008.

An annual rate of $1.84 per share will be awarded due to the increase in quarterly dividend.

Johnson & Johnson operates in some 57 different countries and employs around 119,500 people.