Dividend Aristocrats: Johnson & Johnson
Johnson & Johnson was founded in 1886, and since the last 60 years is constantly raising its dividends. The company has a truly diversified business with three major segments: Consumer health, Pharmaceutical, Medical Devices.
The recent Q2 2022 earnings report was impressive despite consumer market tightening. The revenue grew by 3% year-on-year to $24 billion, while the net free cash flows rose to $8.1 billion over the first half of 2022. Dividend and buybacks were at $5.8 billion and at $2.6 billion respectively. Consumer health segment rose by 3% year-on-year amid elevated demand for analgesics and upper airways medicine. Skin Care Neutrogena brand significantly contributed to the segment earnings. Pharmaceutical sales were up by 12% year-on-year mainly on rising cancer treatment medicine, Grohn’s disease drugs, precox treatment and some other diseases. The COVID-19 vaccine is not expected to make a significant contribution to the segment. Medical Devices segment was up by 3% year-on-year on elevated demand for surgical systems and electrophysiology equipment. Diversified business and vas cash flows are magnetizing investors worldwide, especially now as JNJ stock prices are 7% below the beginning of 2022.
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