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JOHNSON & JOHNSON ANNOUNCES 2-FOR-1 STOCK SPLIT; DIVIDEND INCREASED 15 PERCENT

 JOHNSON & JOHNSON ANNOUNCES 2-FOR-1 STOCK SPLIT;
 DIVIDEND INCREASED 15 PERCENT
 NEW BRUNSWICK, N.J., April 23 /PRNewswire/ -- Johnson & Johnson (NYSE: JNJ) today announced that the board of directors has declared a 2-for-1 stock split and a 15 percent increase in the dividend rate. This action was announced this morning at the annual shareholders meeting in New Brunswick by Chairman and Chief Executive Officer Ralph S. Larsen.
 "Given our strong financial position and our confidence in the future of this corporation, the board of directors has voted to increase the quarterly dividend 15 percent to $.46 per share from $.40 per share, on a pre-split basis. This represents the 28th consecutive year of increases in the dividend rate," Larsen reported. At the new rate, the indicated dividend on an annual basis is $1.84 compared to the previous rate of $1.60. The next quarterly dividend is payable on June 9 to shareholders of record as of May 19.
 Shareholders of record at the close of business on May 19, 1992, will be issued one additional share of Johnson & Johnson common stock for each share owned as of that date. New shares will be mailed on June 9, 1992.
 Johnson & Johnson shares outstanding as of March 29, the close of the company's first quarter, were 333.0 million. The company also reported that it continues to repurchase shares under the $500 milion share repurchase program announced in March 1992. The last stock split announced by Johnson & Johnson was in 1989, when shares were split 2-for-1.
 Johnson & Johnson, with over 82,000 employees, is the world's largest and most comprehensive manufacturer of health care products serving the consumer, pharmaceutical and professional markets. Johnson & Johnson has 166 operating companies in 52 countries around the world, selling products in more than 150 countries. 1991 sales were $12.45 billion; net income exceeded $1.4 billion; and the return on average stockholders' equity was 27.8 percent.
 -0- 2/23/92
 /CONTACT: F. Robert Kniffin (media), 908-524-3535, or home, 609-799-0369; or Clarence E. Lockett (investors), 908-524-6491, or home, 215-493-0757, both of Johnson & Johnson/
 (JNJ) CO: Johnson & Johnson ST: New Jersey IN: MTC SU:


GK -- NY038 -- 1725 04/23/92 10:00 EDT
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Publication:PR Newswire
Date:Apr 23, 1992
Words:367
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