Evaluate the dividend policy of Johnson & Johnson for the fiscal year 2023 based on the following information:

• Net Income: $3,000,000
• Dividends Paid to Common Shareholders: $1,500,000
• Weighted Average Common Shares Outstanding: 1,000,000
• Dividend Payout Ratio Target: 50%

Dividend policy refers to a company's approach to distributing profits to shareholders through dividends. Assess Johnson & Johnson's dividend policy using the provided financial data and analyze its dividend payout ratio relative to the target ratio. This analysis aids stakeholders in understanding the company's dividend distribution practices and its implications for shareholder value.