NEW YORK (TheStreet) -- Johnson & Johnson (JNJ) - Get Johnson & Johnson Report has increased its quarterly dividend rate by 10.2%, from 49 cents a share to 54 cents a share citing a "strong financial position and confidence in our ability to deliver outstanding results now and in the future."
The dividend at the new rate on an annual basis is $2.16 a share compared with the previous rate of $1.96 a share.
This is J&J's 48th consecutive year with a dividend increase.
-- Reported by Andrea Tse in New York
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