In August 2023, Kenvue (NYSE: KVUE) separated from Johnson & Johnson (J&J), becoming an independent company and joining the ranks of the S&P 500 Dividend Aristocrats. In fact, you are probably familiar with many of Kenvue’s iconic brands—Tylenol, Listerine, BAND-AID, and more—that make this newly independent company the world’s largest pure-play consumer health company by revenue. Moreover, it also inherits Johnson & Johnson’s remarkable 60-year record of dividend growth.
Built on more than a century of heritage, J&J’s former consumer health division has a deep connection with its customers and touches the lives of more than a billion people around the world. Its separation from the pharmaceutical and medical devices segments of J&J enables Kenvue to sharpen its focus and allocate resources efficiently. The result is a leading company in its industry, poised to unlock even greater shareholder value.
Let's not overlook the overall dividend picture. J&J has increased its annual dividends twice since it first announced the separation of Kenvue in 2021. Meanwhile, Kenvue promptly declared its first quarterly dividend, showing that it appears committed to carrying on its six-decade legacy of consistent dividend growth.
 Source: Kenvue Corporate Overview.
 Source: https://www.jnj.com/johnson-johnson-announces-plans-to-accelerate-innovation-serve-patients-and-consumers-and-unlock-value-through-intent-to-separate-consumer-health-business
 Source: Bloomberg.