J&J Q1 - 60 Years Of Consecutive Dividend Hikes

Yesterday, Johnson & Johnson kicked off earnings season for Vestact stocks on a decent note. Revenues came in at $24.7 billion, well above the consensus of $23.6 billion. Earnings per share also had a nice beat, posting $2.68 versus $2.49 expected.

Pharmaceuticals sales exceeded estimates by 7%, with multiple myeloma drug Darzalex hitting big numbers. Revenue in the medical devices business was 3% higher than expected, growing 6.4% from this time last year. The consumer products division is going to be spun out soon so that's of limited interest, but did manage to grow sales by 11.3%.

Most importantly, J&J raised their generous dividend by a further 5.3%. Amazingly, this is the 60th year of consecutively increasing dividends. What an incredible record!

J&J is a slow and steady investment, and that is what we like about it. It adds balance to our portfolios and the 3% dividend yield is very welcome.