The Summit, New Jersey-based company now offers an annual rate of 84 cents, resulting in a yield of approximately 4.27% based on Wednesday’s trading price of $19.68. This adjustment keeps Kenvue firmly positioned within the S&P 500 Dividend Aristocrats Index, a group requiring at least 25 years of consecutive payout growth. Furthermore, the company maintains its spot on the roster of 58 dividend kings, which tracks corporations that have increased annual dividends for half a century or more, inheriting the legacy string of hikes from its former parent firm.

Shareholders of record as of August 12 will receive the new dividend payment on August 26.