{"id":54865,"date":"2023-08-30T11:36:23","date_gmt":"2023-08-30T15:36:23","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/jj-revises-guidance-after-kenvue-spinout-theres-good-news-on-the-dividend\/"},"modified":"2023-08-30T11:36:27","modified_gmt":"2023-08-30T15:36:27","slug":"jj-revises-guidance-after-kenvue-spinout-theres-good-news-on-the-dividend","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=54865","title":{"rendered":"J&J Revises Guidance After Kenvue Spinout. There’s Good News on the Dividend."},"content":{"rendered":"
\n
<\/p>\n

<\/p>\n

<\/p>\n<\/figure><\/div>\n

\n Johnson & Johnson
\n on Wednesday issued new financial guidance after spinning out the consumer-health company
\n Kenvue.<\/span>
\n While its earnings and sales projections were lowered on an absolute basis, the company is maintaining its dividend and expects to increase its revenue at a faster pace. <\/p>\n

\n Johnson & Johnson
\n (ticker: JNJ) is set to lose earnings from what is now
\n Kenvue
\n (KVUE). However, that will be offset by a lower share count in calculating earnings per share, given that investors enthusiastically took up the exchange offer for converting J&J shares to those of Kenvue.\u00a0<\/p>\n

\n

The drug maker now expects full-year reported sales of $83.2 billion to $84 billion, down from a previous forecast of $98.8 billion to $99.8 billion. The new figure represents sales growth of 7% to 8%, compared with 6.5% to 7.5% previously. <\/p>\n

The company now expects adjusted earnings of $10 to $10.10 a share, representing growth of 12% to 13%. That compares with a previous estimate of $10.70 to $10.80, with growth of 5.5% to 6.5%. <\/p>\n

Johnson & Johnson maintained its quarterly dividend of $1.19 a share. At the stock\u2019s Tuesday closing price of $164.31, that implies an annual dividend yield of 2.9%.\u00a0<\/p>\n

Kenvue is set to join Johnson & Johnson in the S&P 500 Dividend Aristocrats Index, which houses
\n S&P 500
\n companies that have raised their dividends for at least 25 consecutive years.<\/p>\n

\u201cThe completion of this transaction uniquely positions Johnson & Johnson as a pharmaceutical and medtech company focused on delivering transformative healthcare solutions to patients,\u201d said CEO Joaquin Duato.\u00a0<\/p>\n

Johnson & Johnson shares were up 0.2% at $164.70 in early trading.<\/p>\n

Write to Adam Clark at adam.clark@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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