INDIANAPOLIS - Eli Lilly and Company (NYSE:LLY), the global pharmaceutical giant, has announced a second-quarter dividend of $1.30 per share for 2024. The dividend will be paid to shareholders who are on record as of the close of business on May 16, 2024, with the payment date set for June 10, 2024.
The company, known for its significant contributions to medicine and health care over nearly 150 years, currently supports more than 51 million people worldwide with its range of medicines. Eli Lilly has been at the forefront of addressing some of the most pressing health challenges today, including diabetes care, obesity treatments, Alzheimer's disease, immune system disorders, and various cancers.
Eli Lilly's commitment extends beyond drug development to include innovative clinical trials that represent diverse populations and efforts to ensure that its medicines are both accessible and affordable.
While the dividend declaration indicates the company's financial health and its ability to return value to shareholders, it also comes with a cautionary note. Eli Lilly emphasizes that pharmaceutical research and development carry significant risks and uncertainties, and actual results may differ materially from current expectations.
Investors are reminded of the inherent uncertainties in the pharmaceutical industry and are directed to Eli Lilly's filings with the Securities and Exchange Commission for a detailed discussion of potential risks.
This dividend announcement is based on a press release statement from Eli Lilly and Company.
InvestingPro Insights
Eli Lilly and Company (NYSE:LLY) continues to demonstrate its financial strength and shareholder commitment, as evidenced by recent data from InvestingPro. With a robust market capitalization of $675.75 billion and a consistent history of dividend payments, Eli Lilly remains a significant player in the pharmaceutical industry. The company stands out for its impressive revenue growth over the last twelve months as of Q1 2024, posting a 29.76% increase, reflecting its strong position in the market.
The company's commitment to shareholders is further highlighted by an InvestingPro Tip noting Eli Lilly has raised its dividend for 9 consecutive years, showing a long-term approach to shareholder value. Additionally, the dividend growth over the last twelve months as of Q1 2024 was 15.04%, underscoring the company's dedication to its dividend policy.
InvestingPro data also reveals a high P/E ratio of 110.54, which can be a sign of investors' high expectations for future earnings growth. This is supported by another InvestingPro Tip, which forecasts net income growth for Eli Lilly this year. While the company trades at a premium, reflected in its high earnings multiple, this may be justified by its strong market position and growth prospects.
For investors considering a deeper dive into Eli Lilly's financials and future outlook, there are more than 15 additional InvestingPro Tips available, offering insights into various aspects of the company's performance and valuation. To explore these further and make informed investment decisions, a special offer is available: use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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