Dividend Aristocrat and US healthcare giant Johnson & Johnson (JNJ) today announced results for the first-quarter 2020 with 9.5% adjusted EPS growth and a 6.1% dividend increase.
Dividend Increase
For the dividend aristocrats followers and dividend growth investors some good news in the current days with a lot of dividend cuts due to the coronavirus.
Johnson & Johnson announced earlier today that it declared a 6.3% increase in the quarterly dividend rate, from $0.95 per share to $1.01 per share. The indicated dividend on an annual basis is $4.04 per share compared to the previous rate of $3.80 per share. The current dividend yield is 2.8% and the stock price is currently trading up $6.4 (4.6%). This dividend increase is marking the 58th consecutive year of dividend growth.
On the financials:
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- Q1 Non-GAAP EPS of $2.30, beating consensus by $0.24 and a GAAP EPS beat of $0.74.
- The group’s quarterly sales rose by 3.3% at 20.7 billion dollars
- EPS of $2.17 increased by 56.1%
- adjusted EPS of $ 2.30 increased by 9.5%
- 2020 guidance lowered to reflect COVID-19 impact and related investments
- J&J now expects adjusted EPS of $7.50-$7.90 this year, down from $8.95-$9.10 previously.
Source: Press release JNJ
