Johnson & Johnson appears to have the more secure dividend-growth record, while Coca-Cola offers the higher yield. According to Sina Finance, Johnson & Johnson’s dividend yield is 1.9%, compared with Coca-Cola’s 2.3%. For the trailing 12 months through September 27, 2026, Johnson & Johnson generated $20.59 billion in free cash flow and paid $12.72 billion in dividends, a payout ratio of 62%. Coca-Cola’s figures through October 2 were $14.28 billion, $11.23 billion and 79%, respectively.
Johnson & Johnson’s free cash flow has exceeded its dividend payments every year since fiscal 2016. However, the company recorded a $5.5 billion pretax charge in the third quarter of 2026 for a proposed settlement of talc-related ovarian cancer lawsuits. The settlement requires approval from at least 95% of the remaining claimants. Johnson & Johnson raised its full-year guidance on October 13.
Coca-Cola’s dividends exceeded free cash flow in fiscal 2024 and 2025. The company said on October 27 that it expected 2026 free cash flow of at least $13 billion, up from its previous forecast of $12.4 billion. Its board declared a regular quarterly dividend of $0.53 per share on October 15. The article concludes that Johnson & Johnson has a larger cash-flow cushion and lower debt, while Coca-Cola has a higher yield; its author favors the greater dividend safety of Johnson & Johnson.