INDIANAPOLIS - Eli Lilly and Company (NYSE:LLY) announced a fourth-quarter dividend of $1.30 per share on its outstanding common stock. The declared dividend is slated for payment on December 10, 2024, to shareholders who are on record as of November 15, 2024.
The pharmaceutical giant, with a history spanning nearly 150 years, is known for its contributions to medicine, transforming scientific discoveries into therapeutic solutions aimed at improving lives globally. Eli Lilly's portfolio includes treatments that address a range of health challenges such as diabetes, obesity, Alzheimer's disease, immune system disorders, and various cancers. The company emphasizes its commitment to innovative clinical trials that mirror global diversity and strives to make medicines both accessible and affordable.
This dividend declaration follows Eli Lilly's tradition of returning value to shareholders and is a continuation of its quarterly dividend payments. The company's forward-looking statements about expected dividend payments come with the acknowledgment of inherent risks and uncertainties in pharmaceutical research, development, and business strategies.
Investors are advised that actual results may vary significantly due to these risks and uncertainties. Eli Lilly directs those interested in a more detailed understanding of these risks to its filings with the United States Securities and Exchange Commission, including its Form 10-K and Form 10-Q.
The information regarding the dividend declaration is based on a press release statement from Eli Lilly and Company.
In other recent news, Eli Lilly and Company reported positive long-term results from its Phase 3 study of mirikizumab, a drug used in the treatment of ulcerative colitis and Crohn's disease. The pharmaceutical giant is also set to launch its weight-loss medication, Mounjaro, in Hong Kong following government approval. Leerink Partners maintained its Outperform rating on Eli Lilly shares, indicating confidence in the company's performance.
Eli Lilly's EBGLYSS, a drug for moderate-to-severe atopic dermatitis, has shown promising results in improving skin conditions and reducing itchiness. The company has also initiated legal action against Pivotal Peptides, MangoRx, and Genesis Lifestyle Medicine of Nevada for allegedly selling counterfeit versions of its weight-loss drug Zepbound.
These are recent developments in the company's operations and products. Investors should note these updates as they reflect the company's ongoing progress and potential challenges. It's important to remember that this information is based on recent reports and does not predict future outcomes or performance.
InvestingPro Insights
Eli Lilly's recent dividend declaration aligns with its strong financial performance and commitment to shareholder value. According to InvestingPro data, the company's revenue growth has been impressive, with a 31.87% increase over the last twelve months as of Q2 2024. This robust growth is reflected in the company's market capitalization of $804.89 billion, positioning it as a prominent player in the pharmaceuticals industry.
InvestingPro Tips highlight Eli Lilly's consistent dividend history, noting that the company has maintained dividend payments for 54 consecutive years and has raised its dividend for 9 consecutive years. This track record underscores Eli Lilly's financial stability and dedication to returning value to shareholders, which is particularly relevant to the recent dividend announcement.
The company's strong financial health is further evidenced by its gross profit margin of 80.75% and operating income margin of 35.68% for the last twelve months. These metrics suggest that Eli Lilly is effectively managing costs while driving revenue growth, which supports its ability to sustain and potentially increase dividend payments in the future.
It's worth noting that Eli Lilly is trading at a high P/E ratio of 109.65, indicating investor confidence in the company's future growth prospects. This valuation aligns with the company's focus on innovative treatments and its robust pipeline of potential therapies mentioned in the article.
For investors seeking a more comprehensive analysis, InvestingPro offers 17 additional tips on Eli Lilly, providing deeper insights into the company's financial health and market position.
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