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Johnson & Johnson Hikes Dividend by 5% After Q1 Beat

Johnson & Johnson Inc. (JNJ) is one of the world’s largest and most broadly-based healthcare companies with operations in many different regions of the world and products across pharmaceuticals, consumer health and other areas.

The company generated 42.8% of its revenue from pharmaceuticals, 24.8% from medical devices and 22.2% from consumer health during the first quarter of 2021. In terms of geographic diversification, the company generated about half of its revenue from the United States, 24% from Europe, and 20% from the Asia-Pacific region and Africa.

Q1 Surpasses Expectations, Vaccine Headwinds Persist

Johnson & Johnson reported first-quarter revenue that rose by 7.9% to $22.32 billion, beating consensus estimates by $280 million, with non-GAAP earnings of $2.59 per share, beating consensus estimates by 24 cents. The company narrowed its 2021 revenue and earnings outlook, but the revisions came in below expectations.

After the CDC paused the company’s COVID-19 vaccine over blood clotting concerns, expectations have been adjusted lower in recent months amid a delay in approval for its manufacturing partner and growing hesitancy among eligible Americans. Several countries have also opted out of the Johnson & Johnson vaccine amid the concerns.

The company raised its quarterly dividend by 5% to $1.06 per share, which represents a 2.49% forward yield. The dividend is payable on June 8, 2021, to shareholders on record as of May 25, 2021.

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