In April, Johnson & Johnson (NYSE: JNJ) raised its quarterly dividend by 3.1%, from $1.30 to $1.34 per share, extending its streak of annual dividend increases to 64 consecutive years. Only nine publicly traded companies in the United States have longer records of consecutive dividend growth. The new quarterly rate translates to an annual dividend of $5.36 per share.
For a $10,000 investment at the current share price of about $260, an investor would hold roughly 38 shares and collect approximately $204 in dividend income per year. The forward dividend yield is around 2.07%, which is not particularly high within the S&P 500, where many components offer yields above 5%. The appeal of the stock therefore lies less in its current yield and more in the combination of growth and income.
That combination has been on display recently. The stock has risen 50% over the past 52 weeks and 26% so far in 2026, while the S&P 500 has gained 21.6% over the past year and 13% in 2026. The outperformance has been supported by several developments across the company’s businesses.
In pharmaceuticals, Johnson & Johnson won approval for Icotyde, the first oral peptide of its kind for plaque psoriasis. The company is also developing Milvexian, an investigational anticoagulant that could significantly reduce bleeding risk compared with existing therapies. In medical technology, the Ottava robotic-assisted surgery system received clearance and is expected to become a meaningful growth driver. The company has also made significant progress toward resolving talc-related litigation, which has weighed on the stock for years.
Johnson & Johnson has set a target of $50 billion in annual oncology sales by 2030, positioning itself to become a leader in cancer treatment. To support that goal, the company has completed a series of acquisitions, including Shockwave Medical, Intra-Cellular Therapies, Halda Therapeutics and Firefly Bio. Since the end of 2024, the stock has climbed nearly 80%, reflecting both operational progress and the market’s growing recognition of its expanded growth profile.
Over the past decade, the dividend has grown by 67%, or about 5.3% annually. That pace is not spectacular, but it is consistent. A 64-year record of rising payouts is rare in the U.S. market; only a small number of companies have reached the 50-year threshold that defines a Dividend King, and even fewer have extended their streaks beyond six decades.
A recession would probably not leave the company completely unscathed, but demand for medicines and medical devices tends to be relatively resilient. For investors seeking reliable dividend growth and defensive characteristics, Johnson & Johnson remains difficult to ignore.
