Despite Coronavirus Challenges, Johnson & Johnson Boosts Dividend 6.3%

Even as many businesses have seen their sales and profits decimated by the coronavirus pandemic, Johnson & Johnson (NYSE: JNJ) has continued to generate solid results.

The healthcare titan's sales rose 3.3% to $20.7 billion in the first quarter. Those gains were driven by a 9.2% jump in consumer health revenue and an 8.7% rise in pharmaceutical sales. Consumer health sales benefited from higher demand for over-the-counter products such as Tylenol, Motrin, and Listerine.

But those improved results were partially offset by an 8.2% decline in medical device revenue, as sales in that segment were dampened by the widespread deferral of non-urgent surgical procedures due to the COVID-19 crisis.

Source Fool.com