J&J shares rise after raising dividend, but cutting 2020 earnings outlook over coronavirus outbreak

A Johnson & Johnson building is shown in Irvine, California.

Mike Blake | Reuters

Johnson & Johnson shares rose by more than 3% Tuesday in premarket trading after the U.S. drugmaker raised its quarterly dividend even as it cut full-year earnings guidance due to the coronavirus outbreak.

J&J raised its dividend from 95 cents a share to $1.01, a 6.3% increase. The company lowered its 2020…

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