Johnson & Johnson hikes quarterly dividend 7 pct. at annual meeting, cites strong 2014 results

Markets Associated Press

Johnson & Johnson is hiking its quarterly dividend by 7 percent, from 70 cents per share to 75 cents per share.

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The board of directors of the world's biggest maker of health care products approved the increase. It was announced at Johnson & Johnson's annual meeting in New Brunswick, New Jersey, where J&J is based.

"In recognition of our 2014 results, strong financial position and confidence in the future of Johnson & Johnson, the board has voted to increase the quarterly dividend for the 53rd consecutive year," CEO Alex Gorsky said in a statement.

The dividend is payable on June 9 to shareholders of record on May 26.

The maker of Band-Aids, prescription drugs and medical devices has 127,000 employees at more than 265 operating companies around the world.