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Johnson & Johnson Narrows 2024 Outlook, Raises Dividend

publication date: Apr 16, 2024
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Looking to 2024, J&J expects adjusted operational sales growth in the range of 5.5%-6%, the midpoint of which is up from the prior range of 5%-6%. Adjusted operational diluted earnings per share is targeted in the range of $10.60-$10.75 per share, the midpoint also up from the range of $10.55-$10.75 previously. Management also upped its dividend 4.2%, to a quarterly payout of $1.24 per share, implying a forward estimated dividend yield of 3.4%. We like J&J, but we won’t be adding it back to any newsletter portfolio anytime soon.

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