P&G's Dividend Reigns Supreme Amid JNJ Separation Plans
Johnson & Johnson (JNJ) and Procter & Gamble (PG) are two of the many companies that have maintained long-standing dividend records, but one significant difference sets them apart. J&J is planning a mid-2027 separation of DePuy Synthes, which has raised questions about whether its payout will be disturbed.
On the other hand, P&G has no such corporate event planned and continues to focus on its core business. The company's new CEO, Shailesh Jejurikar, has expressed confidence in the strategy, backed by $2.8 billion of pre-tax productivity savings. Fiscal 2027 guidance still calls for $10 billion in dividends and roughly $5 billion in buybacks.
J&J lifted its quarterly dividend to $1.34 per share in August 2026, with a forward annualized total of $5.36. However, the company's payout looks less secure due to the planned separation, which has tested streaks before. In contrast, P&G paid $1.0885 per share on August 17, 2026, with forward annualized of $4.354.