PM BRIEFING : Johnson & Johnson Posts Records
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NEW BRUNSWICK, N.J. — Johnson & Johnson today announced record sales and earnings for 1988, and said it plans a 2-for-1 stock split and a 16% increase in the dividend on its common stock.
The company had sales of $9 billion in 1988, 12.3% over last year’s $8.01 billion, and earnings of $974 million, 16.9% over the 1987 net of $833 million. Earnings per share rose to $5.72 from $4.83. The stock split will be voted on at the company’s April 26 annual meeting. One additional share would be issued for each one held. The dividend would go to 29 cents per share after the split as against 50 cents per present share.
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