Jonhson Johnson (NYSE: JNJ) has treated its investors like royalty over the years. The healthcare behemoth has increased its dividend payment for 61 straight years. That's put it in the elite group of Dividend Kings, companies with 50 consecutive years of consistent dividend increases. 

A big driver of Johnson & Johnson's ability to steadily increase its payout is the durability of its diversified business model. However, it's a little less diversified after splitting off its consumer healthcare business by creating Kenvue (NYSE: KVUE), which it recently spun off to shareholders who opted into its exchange offer. Here's a look at whether that move will impact the company's ability to continue growing its dividend.

Johnson Johnson has been working on the separation of its consumer health business for years. The company initially unveiled plans to spin off that division in November 2021. It believed separating its consumer health business from its pharmaceutical and medical technology segments would accelerate innovation and unlock shareholder value. 

Continue reading

Source Fool.com