There are few companies out there with an unblemished track record of annual dividend increases that also have pristine financials to ensure that the dividend raises will continue. Johnson & Johnson (NYSE: JNJ) is unquestionably one of them. The company has raised its dividend annually since it began paying one in 1972. Last year marked the 50th year in a row that the drug and consumer products company lifted the dividend. That's what you call an impressive track record. Okay, so the dividend-paying history is superb. But so is its cash flow growth. In 2021, the maker of Band-Aids, medical devices and cancer-fighting drugs, along with many other products, generated $19.8 million in free cash flow. That figure is expected to grow to $22.9 billion when Johnson & Johnson reports full-year 2022 results and rocket to $26.7 billion this year. |
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