18 April 2023 I New Brunswick, NJ

The board of directors of Johnson & Johnson (NYSE: JNJ) has declared a regular quarterly dividend of $1.19 per common share, an increase of approximately 5.3% from the previous quarterly dividend of $1.13.

For calendar year 2023, this marks the thirteenth dividend change for the Washington Crossing Advisors Rising Dividend portfolio. All thirteen changes were increases. The average dividend increase is 5.69% compared with December 31, 2022 indicated levels.

Please contact your financial advisor for a complete list of all portfolio holdings that have, in the past 12 months, increased, decreased, or had no change in dividend.

From the press release: “Johnson & Johnson today announced that its Board of Directors has declared a 5.3% increase in the quarterly dividend, from $1.13 per share to $1.19 per share.

“In recognition of our 2022 results, strong financial position, and confidence in the future of Johnson & Johnson, the Board of Directors has voted to increase the quarterly dividend for the 61st consecutive year,” said Joaquin Duato, Chairman of the Board and Chief Executive Officer of the company.

At the new rate, the indicated dividend on an annual basis is $4.76 per share compared to the previous rate of $4.52 per share. The next quarterly dividend is payable on June 6, 2023 to shareholders of record as of the close of business on May 23, 2023. The ex-dividend date is May 22, 2023.”1

About the company: “At Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. That’s why for more than 135 years, we have aimed to keep people well at every age and every stage of life. Today, as the world’s largest, most diversified healthcare products company, we are committed to using our reach and size for good. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. We are blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity.”1

IMPORTANT DISCLOSURES: The securities discussed herein do not represent all of the securities held by the WCA Rising Dividend Portfolio as of the date presented and are subject to change at any time, without notice. A complete list of holdings as of the date noted above will be provided upon request. The above is presented to illustrate the application of the strategy only and not intended as personalized recommendations of any particular security. The securities identified and described above do not represent all of the securities purchased, sold, or recommended for client accounts. You should not assume that an investment in any of the securities identified was or will be profitable. Changes in market conditions or a company’s financial condition may impact the company’s ability to continue to pay dividends. Companies may also choose to discontinue dividend payments. All investments involve risk, including loss of principal, and there is no guarantee that investment objectives will be met. It is important to review your investment objectives, risk tolerance and liquidity needs before choosing an investment style or manager. Equity investments are subject generally to market, market sector, market liquidity, issuer, and investment style risks, among other factors to varying degrees. Fixed Income investments are subject to market, market liquidity, issuer, investment style, interest rate, credit quality, and call risks, among other factors to varying degrees.