On April 27, The Board of Directors of Exxon Mobil Corporation (NYSE:XOM) declared a cash dividend of 75 cents per share on the Common Stock, payable on June 10, 2016 to shareholders of record of Common Stock at the close of business on May 13, 2016. This is 2.74% increase in its quarterly dividend from 73 cents per share paid in the first quarter of 2016. Through its dividends, the corporation has shared its success with its shareholders for more than 100 years and has increased its annual dividend payment to shareholders for 34 consecutive years. YOC of my position in XOM will be improved to 3.4% from 3.3%.
On the next day, Johnson & Johnson (NYSE: JNJ) announced that its Board of Directors has declared a 6.7% increase in the quarterly dividend rate, from $0.75 per share to $0.80 per share. The increase was announced this morning at the Annual Meeting of Shareholders in New Brunswick, N.J. “In recognition of our 2015 results, strong financial position and confidence in the future of Johnson & Johnson, the Board has voted to increase the quarterly dividend for the 54th consecutive year,” said Alex Gorsky, Chairman and Chief Executive Officer of the company. At the new rate, the indicated dividend on an annual basis is $3.20 per share compared to the previous rate of $3.00 per share. The next quarterly dividend is payable on June 7, 2016 to shareholders of record as of the close of business on May 24, 2016. The ex-dividend date is May 20, 2016. YOC of my position in XOM will be improved to 3.3% from 3.1%
Dsclosur: Long XOM, JNJ