Dividend Increase: JNJ

Johnson & Johnson (JNJ) is increasing its quarterly dividend by 7.0%, from $0.57 to $0.61 per share, putting the company on track for its 50th consecutive year of dividend growth. Given that I own 35 shares of JNJ, my quarterly dividend increases from $19.95 to $21.35, which will add an extra $5.60 to my annual dividend income. This dividend increase also boosts my yield on cost to 3.87%.