Johnson & Johnson (NYSE:JNJ) has elected to maintain its dividend. The company declared a distribution of $0.66 per share, to be handed out on Sept. 10 to shareholders of record as of Aug. 27. That amount matches the company's previous distribution, which was paid in mid-June. Before that, Johnson & Johnson's disbursement was $0.61 per share.

One of the steadier dividend payers on the New York Stock Exchange, the company has lifted its payout over the years. Since June 2003, it has risen from $0.24 to the present level.

The just-declared dividend annualizes to $2.64 per share. That yields 2.9% at Johnson & Johnson's most recent closing stock price of $90.40.

Fool contributor Eric Volkman has no position in Johnson & Johnson. The Motley Fool recommends and owns shares of Johnson & Johnson. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.