<p><strong>强生</strong>(JNJ 6.21%) 多年来一直是一个极其可靠的分红股票。这家医疗巨头连续 63 年提高分红，包括今年早些时候提高了 4.8%。这使其跻身于分红之王的精英行列——即连续 50 年或以上提高分红的公司。</p>
<p>这家医疗公司的分红目前收益率为 3.3%，是 <strong>标准普尔 500 指数</strong>(^GSPC 0.32%) 分红收益率（接近历史低点约 1.2%）的两倍多。这一高收益的分红非常健康，使得强生成为收取分红收入的非常安全的选择。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjU0Njgvc3RldGhvc2NvcGUtb24tbW9uZXktY2FzaC0xMjAweDgwMS1kMjFiNDVkLmpwZyZ3PTcwMA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjU0Njgvc3RldGhvc2NvcGUtb24tbW9uZXktY2FzaC0xMjAweDgwMS1kMjFiNDVkLmpwZyZ3PTcwMA"/></p>
<p>图片来源：Getty Images。</p>
<h2>财务堡垒</h2>
<p>强生最近公布了其第二季度财务业绩，再次展示了其分红支付的安全性。这家医疗公司报告称，今年上半年产生了约 62 亿美元的自由现金流，同时在研发方面投资了 67 亿美元。这笔现金足以覆盖其分红支付，今年迄今为止的分红成本为 61 亿美元。</p>
<p>虽然这看起来分红支付比率较紧，但投资者无需担心。与去年同期相比，其自由现金流仅略有下降，当时上半年产生了 75 亿美元。强生去年总共产生了 200 亿美元的自由现金流，轻松覆盖了 118 亿美元的分红支出。</p>
<p>与此同时，强生拥有全球最佳的资产负债表之一。该公司拥有无可挑剔的 AAA 债券评级（全球仅有两家公司拥有这种顶级信用）。截至第一季度末，其资产负债表上有 190 亿美元的现金和可交易证券（几乎相当于两年的分红支付），而债务仅为 510 亿美元。320 亿美元的净债务对于一家市值约 3750 亿美元的公司来说相对较小。</p>
<p>强生保持了强劲的资产负债表，即使在过去一年中已部署了 150 亿美元用于战略性非有机增长机会，过去两年则超过 300 亿美元。</p>
<h2>大力投资以实现增长</h2>
<p>强生强大的财务状况使其能够在研发和并购方面进行大量投资，推动其创新药物和医疗技术平台的增长。去年，该公司在研发方面的支出超过 170 亿美元（占其总销售额的 19.4%）。这使其成为各行业中研发投资最多的公司之一。加上收购和其他非有机投资，该公司去年在增长项目上投资了惊人的 500 亿美元。</p>
<p>这些增长投资开始见效。强生首席执行官华金·杜阿托在第二季度财报发布会上评论道：“我们的产品组合和管道使我们在下半年有望实现更高的增长。” 因此，该公司将其年度收入指引上调了 20 亿美元（意味着全年增长 5.4%），并将调整后的每股收益预期增加了 0.25 美元，中值提高至 10.68 美元。</p>
<p>该公司预计在未来几年将继续保持健康的增长速度。到 2027 年，强生预计其医疗技术销售的三分之一将来自新产品。</p>
<p>与此同时，该公司预计到 2030 年将推出超过 10 个创新药物资产，预计在高峰年销售额超过 50 亿美元。这些产品的增长将有助于弥补到期专利带来的销售损失，使公司能够继续以健康的速度增加收入和自由现金流。它还可以继续利用其坚固的资产负债表，在出现战略性并购机会时补充其研发工作。</p>
<h2>非常安全的分红股票</h2>
<p>强生继续展示其支付分红的卓越能力。这家医疗公司的高收益分红依然稳固，尽管其自由现金流在今年上半年有所下降。凭借坚固的资产负债表和可见的增长前景，该公司应该能够继续以健康的速度增加分红。因此，它仍然是产生被动分红收入的极其安全的方式。</p>

强生

<p>强生（Johnson & Johnson，JNJ）拥有 3.3% 的强劲股息收益率，连续 63 年提高股息。该公司在上半年报告了 62 亿美元的自由现金流，足以覆盖 61 亿美元的股息支出。凭借 AAA 的债券评级和 190 亿美元的现金，JNJ 保持着稳健的资产负债表。该公司在研发和并购方面进行了大量投资，预计新产品将带来显著增长。总体而言，JNJ 的股息依然安全，为投资者提供了可靠的被动收入来源</p>

<p><strong>Johnson &amp; Johnson</strong>(JNJ 6.21%) has been an extremely reliable dividend stock for decades. The healthcare behemoth has raised its payment for 63 straight years, including by 4.8% earlier this year. That places it in the elite group of Dividend Kings -- companies with 50 or more consecutive years of increasing their dividend payouts.</p>
<div class="lb-trans"><p><strong>强生</strong>(JNJ 6.21%) 多年来一直是一个极其可靠的分红股票。这家医疗巨头连续 63 年提高分红，包括今年早些时候提高了 4.8%。这使其跻身于分红之王的精英行列——即连续 50 年或以上提高分红的公司。</p>
</div><p>The healthcare company's payout currently yields 3.3%, more than double the <strong>S&amp;P 500</strong>'s (^GSPC 0.32%) dividend yield (near a record low at around 1.2%). That high-yielding payout is very healthy, making Johnson &amp; Johnson a very safe way to collect dividend income.</p>
<div class="lb-trans"><p>这家医疗公司的分红目前收益率为 3.3%，是 <strong>标准普尔 500 指数</strong>(^GSPC 0.32%) 分红收益率（接近历史低点约 1.2%）的两倍多。这一高收益的分红非常健康，使得强生成为收取分红收入的非常安全的选择。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjU0Njgvc3RldGhvc2NvcGUtb24tbW9uZXktY2FzaC0xMjAweDgwMS1kMjFiNDVkLmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F825468%2Fstethoscope-on-money-cash-1200x801-d21b45d.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>A financial fortress</h2>
<div class="lb-trans"><h2>财务堡垒</h2>
</div><p>Johnson &amp; Johnson recently reported its second-quarter financial results, which once again showcased the safety of its dividend payment. The healthcare company reported that it generated approximately $6.2 billion in free cash flow through the first half of this year, following investments of $6.7 billion in research and development (R&amp;D). That was enough cash to cover its dividend payment, which has cost $6.1 billion year to date.</p>
<div class="lb-trans"><p>强生最近公布了其第二季度财务业绩，再次展示了其分红支付的安全性。这家医疗公司报告称，今年上半年产生了约 62 亿美元的自由现金流，同时在研发方面投资了 67 亿美元。这笔现金足以覆盖其分红支付，今年迄今为止的分红成本为 61 亿美元。</p>
</div><p>While that might seem like a tight payout ratio, investors need not be concerned. Its free cash flow is only down slightly compared to the year-ago period, when it produced $7.5 billion through the first half of the year. Johnson &amp; Johnson generated $20 billion in total free cash flow last year, easily covering its $11.8 billion dividend outlay.</p>
<div class="lb-trans"><p>虽然这看起来分红支付比率较紧，但投资者无需担心。与去年同期相比，其自由现金流仅略有下降，当时上半年产生了 75 亿美元。强生去年总共产生了 200 亿美元的自由现金流，轻松覆盖了 118 亿美元的分红支出。</p>
</div><p>Meanwhile, Johnson &amp; Johnson has one of the best balance sheets in the world. The company has a pristine AAA bond rating (one of only two companies in the world with elite credit). It ended the first quarter with $19 billion of cash and marketable securities on its balance sheet (nearly two years of dividend payments) against only $51 billion of debt. The $32 billion in net debt is a relatively small amount for a company with a roughly $375 billion market capitalization.</p>
<div class="lb-trans"><p>与此同时，强生拥有全球最佳的资产负债表之一。该公司拥有无可挑剔的 AAA 债券评级（全球仅有两家公司拥有这种顶级信用）。截至第一季度末，其资产负债表上有 190 亿美元的现金和可交易证券（几乎相当于两年的分红支付），而债务仅为 510 亿美元。320 亿美元的净债务对于一家市值约 3750 亿美元的公司来说相对较小。</p>
</div><p>Johnson &amp; Johnson has maintained a strong balance sheet, even as it has deployed $15 billion in strategic inorganic growth opportunities over the past year, and more than $30 billion over the last two years.</p>
<div class="lb-trans"><p>强生保持了强劲的资产负债表，即使在过去一年中已部署了 150 亿美元用于战略性非有机增长机会，过去两年则超过 300 亿美元。</p>
</div><h2>Investing heavily to grow</h2>
<div class="lb-trans"><h2>大力投资以实现增长</h2>
</div><p>Johnson &amp; Johnson's robust financial profile enables it to invest heavily in R&amp;D and M&amp;A, driving growth of its innovative medicine and MedTech platforms. Last year, the company spent more than $17 billion in R&amp;D (19.4% of its total sales). That made it one of the top R&amp;D investors across all industries. Adding acquisitions and other inorganic investments, the company invested a whopping $50 billion in growth initiatives last year.</p>
<div class="lb-trans"><p>强生强大的财务状况使其能够在研发和并购方面进行大量投资，推动其创新药物和医疗技术平台的增长。去年，该公司在研发方面的支出超过 170 亿美元（占其总销售额的 19.4%）。这使其成为各行业中研发投资最多的公司之一。加上收购和其他非有机投资，该公司去年在增长项目上投资了惊人的 500 亿美元。</p>
</div><p>Those growth investments are starting to pay off. &#34;Our portfolio and pipeline position us for elevated growth in the second half of the year,&#34; commented CEO Joaquin Duato in the second-quarter earnings press release. As a result, the company boosted its annual revenue guidance by $2 billion (implying 5.4% growth for the full year) and tacked $0.25 per share to its adjusted earnings per share outlook, increasing the midpoint to $10.68.</p>
<div class="lb-trans"><p>这些增长投资开始见效。强生首席执行官华金·杜阿托在第二季度财报发布会上评论道：“我们的产品组合和管道使我们在下半年有望实现更高的增长。” 因此，该公司将其年度收入指引上调了 20 亿美元（意味着全年增长 5.4%），并将调整后的每股收益预期增加了 0.25 美元，中值提高至 10.68 美元。</p>
</div><p>The company anticipates it will continue growing at a healthy pace over the next few years. By 2027, Johnson &amp; Johnson expects that one-third of its MedTech sales will come from new products.</p>
<div class="lb-trans"><p>该公司预计在未来几年将继续保持健康的增长速度。到 2027 年，强生预计其医疗技术销售的三分之一将来自新产品。</p>
</div><p>Meanwhile, the company expects to launch more than 10 innovative medicine assets by 2030, with the potential to deliver over $5 billion in peak-year sales. The growth from these products will help to more than replace the lost sales from expiring patents, enabling the company to continue increasing revenue and free cash flow at healthy rates. It can also continue utilizing its fortress balance sheet to supplement its R&amp;D efforts with strategic M&amp;A opportunities as they arise.</p>
<div class="lb-trans"><p>与此同时，该公司预计到 2030 年将推出超过 10 个创新药物资产，预计在高峰年销售额超过 50 亿美元。这些产品的增长将有助于弥补到期专利带来的销售损失，使公司能够继续以健康的速度增加收入和自由现金流。它还可以继续利用其坚固的资产负债表，在出现战略性并购机会时补充其研发工作。</p>
</div><h2>A very safe dividend stock</h2>
<div class="lb-trans"><h2>非常安全的分红股票</h2>
</div><p>Johnson &amp; Johnson continues to showcase its elite ability to pay dividends. The healthcare company's high-yielding payout remains on rock-solid ground, even though its free cash flow is down through the first half of this year. With a fortress balance sheet and visible growth ahead, the company should have no problem continuing to increase its dividend at a healthy pace. As a result, it remains an extremely safe way to generate passive dividend income.</p>
<div class="lb-trans"><p>强生继续展示其支付分红的卓越能力。这家医疗公司的高收益分红依然稳固，尽管其自由现金流在今年上半年有所下降。凭借坚固的资产负债表和可见的增长前景，该公司应该能够继续以健康的速度增加分红。因此，它仍然是产生被动分红收入的极其安全的方式。</p>
</div>

强生公司 3.3% 的健康股息收益率是获取被动收入的非常安全的途径