In keeping with a very long-standing habit, Johnson & Johnson's (NYSE:JNJ) board has declared a new quarterly common stock dividend. The durable healthcare and consumer goods company announced Monday that it will pay $1.01 per share on Sept. 8. Stockholders of record as of Aug. 25 will be eligible for the distribution.

On Monday's closing share price, the dividend yields 2.7%.

The word dividends ink stamped onto a sheet of paper under a pencil and a paper clip.

Image source: Getty Images.

That amount matches the previous payout; prior to that, Johnson & Johnson had disbursed $0.95 per share. Raises are par for the course for the company, which is a Dividend Aristocrat -- one of a clutch of S&P 500 components that have not only paid regular distributions, but raised them at least once annually for a minimum of 25 years in a row. The company has one of the longest raise streaks going, at 58 years.

Ever a strong cash flow generator, Johnson & Johnson hasn't necessarily been a high flyer in terms of other fundamentals lately. Both its healthcare and consumer goods products were affected by the economic downturns caused by the coronavirus pandemic, as reflected in the second-quarter results it released last Thursday. Total sales dropped by nearly 11% on a year-over-year basis, while per-share net profit saw an almost 35% decline.

Still, despite that, the company remains a favorite among dividend stock investors, not least because that yield is relatively generous. On Monday, following the announcement of the new payout, Johnson & Johnson's shares rose marginally by just under 0.2%, trailing the gains of the top equity indexes on the day.