I bought 20 shares of Johnson & Johnson (JNJ) at $63.16 plus commission today. This purchase will add $45.60 to my annual income based off the current dividend. It's been a long time since I've bought JNJ stock, I figured now would be a good time to make an addition with recent bad news. JNJ has had problems with product recalls the past year and has been fined for questionable drug advertising in a court case. I typically make purchases when prices decline in companies I want to own.
JNJ is a remarkably stable stock that has a long history of dividend increases. I expect the company will announce their 50th consecutive increase later this month. Historically JNJ is renowned for high dividend growth, I think this year we'll see a small increase of only 4-5% or so. The past year has been challenging for JNJ, but I still like the company long term. I use many Johnson & Johnson brands such as Acuvue, Tylenol, Aveeno, and Band-Aid.