Johnson & Johnson is raising its quarterly dividend by 7 percent, to 61 cents per share.
The health care giant made the announcement on Thursday at its annual meeting in New Brunswick, N.J.
It's the 50th straight year Johnson & Johnson has increased its dividend. The dividend will now be $2.44 per share on an annual basis, up from $2.28 per share.
The next quarterly dividend is payable on June 12 to shareholders of record as of May 29.
Shares in the company rose 27 cents to $64.70 in morning trading.