J&J Hikes Dividend

The new payout will be 41.5 cents.
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Johnson & Johnson

(JNJ) - Get Report

said Thursday that its board has raised the quarterly dividend by 11% to 41.5 cents from 37.5 cents.

The new dividend is payable June 12 to shareholders of record on May 29. This is the 45th consecutive year of dividend increases.

By midafternoon, shares of J&J were off 29 cents to $64.39.