Johnson & Johnson boosts dividend by 7 percent

Johnson & Johnson raises its dividend by 7 percent; 50th consecutive year of increases

Associated Press

NEW BRUNSWICK, N.J. (AP) -- Johnson & Johnson is raising its quarterly dividend by 7 percent, to 61 cents per share.

The health care giant made the announcement on Thursday at its annual meeting in New Brunswick, N.J.

It's the 50th straight year Johnson & Johnson has increased its dividend. The dividend will now be $2.44 per share on an annual basis, up from $2.28 per share.

The next quarterly dividend is payable on June 12 to shareholders of record as of May 29.

Shares in the company rose 27 cents to $64.70 in morning trading.

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