Pharma Giant Eli Lilly's Shareholder Bonanza: Announces Hefty 15% Dividend Hike For Q1

Eli Lilly and Company LLY has boosted its quarterly dividend by an impressive 15%, announcing a payout of $1.30 per share for the first quarter of 2024, signaling strong financial confidence.

The dividend is payable on March 8, 2024, to shareholders of record at the close of business on February 15, 2024.

The company has recently received an FDA nod for Jaypirca (pirtobrutinib, 100 mg & 50 mg tablets) for adult patients with chronic lymphocytic leukemia or small lymphocytic lymphoma (CLL/SLL) who have received at least two prior lines of therapy. 

Last month, the company reported Q3 sales of $9.49 billion, up 37% Y/Y, beating the consensus of $8.95 billion, driven by growth from weight loss drugs Mounjaro, Verzenio, and Jardiance.

In its Q3 report, Eli Lilly revised FY23 adjusted EPS to $6.50-$6.70 versus prior guidance of $9.70-$9.90. The company reaffirmed its FY23 revenue forecast to $33.4-$33.9 billion.

Also Read: Apellis Pharmaceuticals Upgraded To Buy: Analyst Sees Potential In Syfovre's Strong Launch

Price Action: LLY shares are trading lower by 0.07% to $587.87 on the last check Friday.

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