<p><strong>強生</strong>(JNJ 6.21%) 多年來一直是一個極其可靠的分紅股票。這家醫療巨頭連續 63 年提高分紅，包括今年早些時候提高了 4.8%。這使其躋身於分紅之王的精英行列——即連續 50 年或以上提高分紅的公司。</p>
<p>這家醫療公司的分紅目前收益率為 3.3%，是 <strong>標準普爾 500 指數</strong>(^GSPC 0.32%) 分紅收益率（接近歷史低點約 1.2%）的兩倍多。這一高收益的分紅非常健康，使得強生成為收取分紅收入的非常安全的選擇。</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>圖片來源：Getty Images。</p>
<h2>財務堡壘</h2>
<p>強生最近公佈了其第二季度財務業績，再次展示了其分紅支付的安全性。這家醫療公司報告稱，今年上半年產生了約 62 億美元的自由現金流，同時在研發方面投資了 67 億美元。這筆現金足以覆蓋其分紅支付，今年迄今為止的分紅成本為 61 億美元。</p>
<p>雖然這看起來分紅支付比率較緊，但投資者無需擔心。與去年同期相比，其自由現金流僅略有下降，當時上半年產生了 75 億美元。強生去年總共產生了 200 億美元的自由現金流，輕鬆覆蓋了 118 億美元的分紅支出。</p>
<p>與此同時，強生擁有全球最佳的資產負債表之一。該公司擁有無可挑剔的 AAA 債券評級（全球僅有兩家公司擁有這種頂級信用）。截至第一季度末，其資產負債表上有 190 億美元的現金和可交易證券（幾乎相當於兩年的分紅支付），而債務僅為 510 億美元。320 億美元的淨債務對於一家市值約 3750 億美元的公司來説相對較小。</p>
<p>強生保持了強勁的資產負債表，即使在過去一年中已部署了 150 億美元用於戰略性非有機增長機會，過去兩年則超過 300 億美元。</p>
<h2>大力投資以實現增長</h2>
<p>強生強大的財務狀況使其能夠在研發和併購方面進行大量投資，推動其創新藥物和醫療技術平台的增長。去年，該公司在研發方面的支出超過 170 億美元（佔其總銷售額的 19.4%）。這使其成為各行業中研發投資最多的公司之一。加上收購和其他非有機投資，該公司去年在增長項目上投資了驚人的 500 億美元。</p>
<p>這些增長投資開始見效。強生首席執行官華金·杜阿託在第二季度財報發佈會上評論道：“我們的產品組合和管道使我們在下半年有望實現更高的增長。” 因此，該公司將其年度收入指引上調了 20 億美元（意味着全年增長 5.4%），並將調整後的每股收益預期增加了 0.25 美元，中值提高至 10.68 美元。</p>
<p>該公司預計在未來幾年將繼續保持健康的增長速度。到 2027 年，強生預計其醫療技術銷售的三分之一將來自新產品。</p>
<p>與此同時，該公司預計到 2030 年將推出超過 10 個創新藥物資產，預計在高峰年銷售額超過 50 億美元。這些產品的增長將有助於彌補到期專利帶來的銷售損失，使公司能夠繼續以健康的速度增加收入和自由現金流。它還可以繼續利用其堅固的資產負債表，在出現戰略性併購機會時補充其研發工作。</p>
<h2>非常安全的分紅股票</h2>
<p>強生繼續展示其支付分紅的卓越能力。這家醫療公司的高收益分紅依然穩固，儘管其自由現金流在今年上半年有所下降。憑藉堅固的資產負債表和可見的增長前景，該公司應該能夠繼續以健康的速度增加分紅。因此，它仍然是產生被動分紅收入的極其安全的方式。</p>

強生

<p>強生（Johnson & Johnson，JNJ）擁有 3.3% 的強勁股息收益率，連續 63 年提高股息。該公司在上半年報告了 62 億美元的自由現金流，足以覆蓋 61 億美元的股息支出。憑藉 AAA 的債券評級和 190 億美元的現金，JNJ 保持着穩健的資產負債表。該公司在研發和併購方面進行了大量投資，預計新產品將帶來顯著增長。總體而言，JNJ 的股息依然安全，為投資者提供了可靠的被動收入來源</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>強生</strong>(JNJ 6.21%) 多年來一直是一個極其可靠的分紅股票。這家醫療巨頭連續 63 年提高分紅，包括今年早些時候提高了 4.8%。這使其躋身於分紅之王的精英行列——即連續 50 年或以上提高分紅的公司。</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>這家醫療公司的分紅目前收益率為 3.3%，是 <strong>標準普爾 500 指數</strong>(^GSPC 0.32%) 分紅收益率（接近歷史低點約 1.2%）的兩倍多。這一高收益的分紅非常健康，使得強生成為收取分紅收入的非常安全的選擇。</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>圖片來源：Getty Images。</p>
</div><h2>A financial fortress</h2>
<div class="lb-trans"><h2>財務堡壘</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>強生最近公佈了其第二季度財務業績，再次展示了其分紅支付的安全性。這家醫療公司報告稱，今年上半年產生了約 62 億美元的自由現金流，同時在研發方面投資了 67 億美元。這筆現金足以覆蓋其分紅支付，今年迄今為止的分紅成本為 61 億美元。</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>雖然這看起來分紅支付比率較緊，但投資者無需擔心。與去年同期相比，其自由現金流僅略有下降，當時上半年產生了 75 億美元。強生去年總共產生了 200 億美元的自由現金流，輕鬆覆蓋了 118 億美元的分紅支出。</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>與此同時，強生擁有全球最佳的資產負債表之一。該公司擁有無可挑剔的 AAA 債券評級（全球僅有兩家公司擁有這種頂級信用）。截至第一季度末，其資產負債表上有 190 億美元的現金和可交易證券（幾乎相當於兩年的分紅支付），而債務僅為 510 億美元。320 億美元的淨債務對於一家市值約 3750 億美元的公司來説相對較小。</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>強生保持了強勁的資產負債表，即使在過去一年中已部署了 150 億美元用於戰略性非有機增長機會，過去兩年則超過 300 億美元。</p>
</div><h2>Investing heavily to grow</h2>
<div class="lb-trans"><h2>大力投資以實現增長</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>強生強大的財務狀況使其能夠在研發和併購方面進行大量投資，推動其創新藥物和醫療技術平台的增長。去年，該公司在研發方面的支出超過 170 億美元（佔其總銷售額的 19.4%）。這使其成為各行業中研發投資最多的公司之一。加上收購和其他非有機投資，該公司去年在增長項目上投資了驚人的 500 億美元。</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>這些增長投資開始見效。強生首席執行官華金·杜阿託在第二季度財報發佈會上評論道：“我們的產品組合和管道使我們在下半年有望實現更高的增長。” 因此，該公司將其年度收入指引上調了 20 億美元（意味着全年增長 5.4%），並將調整後的每股收益預期增加了 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>該公司預計在未來幾年將繼續保持健康的增長速度。到 2027 年，強生預計其醫療技術銷售的三分之一將來自新產品。</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>與此同時，該公司預計到 2030 年將推出超過 10 個創新藥物資產，預計在高峰年銷售額超過 50 億美元。這些產品的增長將有助於彌補到期專利帶來的銷售損失，使公司能夠繼續以健康的速度增加收入和自由現金流。它還可以繼續利用其堅固的資產負債表，在出現戰略性併購機會時補充其研發工作。</p>
</div><h2>A very safe dividend stock</h2>
<div class="lb-trans"><h2>非常安全的分紅股票</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>強生繼續展示其支付分紅的卓越能力。這家醫療公司的高收益分紅依然穩固，儘管其自由現金流在今年上半年有所下降。憑藉堅固的資產負債表和可見的增長前景，該公司應該能夠繼續以健康的速度增加分紅。因此，它仍然是產生被動分紅收入的極其安全的方式。</p>
</div>

強生公司 3.3% 的健康股息收益率是獲取被動收入的非常安全的途徑