Johnson and Johnson announces dividend increase

Johnson and Johnson's board of directors has declared an 8.2 percent quarterly dividend increase to $0.66 (43 pence) per share.

The increase – which was announced at the company's annual shareholders' meeting earlier this week – brings the indicated dividend to $2.64 per share on an annual basis, up from $2.44 per share previously.

Shareholders of record on May 28, 2013 will receive their dividend payments for the quarter on June 11th 2013.

This increase comes after a period of strong growth for the company, as was underlined in its recently-published financial report for the first quarter of 2013.

During the period, the firm generated sales of $17.5 billion, which represented a year-on-year improvement of 8.5 percent.

Alex Gorsky, chairman and chief executive officer of Johnson and Johnson, said: "In recognition of our strong financial position and confidence in the future of Johnson and Johnson, the board has voted to increase the dividend for the 51st consecutive year."