Johnson & Johnson (NYSE: JNJ) recently announced it was increasing its dividend for the 61st consecutive year. It's a huge milestone for the business, and the dividend yield is now 2.9%. That's nowhere near 5%, but it could end up getting there. Here's a look at how long it may take for the yield to get to that level and for you to be earning 5% of your original investment back as dividends every year.

If you're investing in a dividend growth stock, one of the big incentives to hold onto it is that you could be collecting much larger dividend payments in the future. There are many high-yielding dividend stocks that can offer investors a higher payout than Johnson & Johnson's stock does, but its more modest payout can be safer, and it's also likely to grow. 

Today, it pays a quarterly dividend of $1.19 per share. That is 80% higher than the $0.66 per share that it was paying shareholders every quarter back in 2013, with those increases averaging a compound annual growth rate of 6.1% during that time frame.

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Source Fool.com