During a conference call Tuesday to review Johnson & Johnson's third-quarter results, an analyst asked about plans for J&J's cash stash, which totaled about $10 billion after debt at the end of the quarter.
QUESTION: What are your thoughts on capital allocation, given how much net cash you have on hand?
ANSWER: First and foremost, we're going to generate strong cash flows. We're very proud of our 51-year history of increasing dividends (and want to continue that). We would like (to make) smart acquisitions at the right time. Finally ... we look at share repurchases to offset any dilution (from newly issued shares).
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