Johnson & Johnson:
- JNJ announced a YOY 10.7% increase in its quarterly dividend to 41.5 cents per share versus 37.5 cents per share in the same quarter last year.
- The increase is lower than the 5-year historical dividend growth rate of 16%.
- The projected dividend payout ratio based on estimated 2007 earnings of $4.05 is 37%. This is in line with the 5-year average payout ratio of 36%.
- Of note, the 10.7% increase compares to an increase of 16% in the 2006 dividend and a 19% increase in the 2005 dividend.
- MCHP announced a YOY 30.2% increase in its quarterly dividend to 28 cents per share versus 21.5 cents per share in the same quarter last year.
- The company has increased its dividend every quarter since the 4th quarter of 2003 increase.
- The company first paid a dividend in the 4th quarter of 2002.
- The projected dividend payout ratio based on estimated calendar year 2007 earnings of $1.43 is 78.3%. This compares to the payout ratio of 14% in 2003.