Pharma Giant Eli Lilly's Shareholder Bonanza: Announces Hefty 15% Dividend Hike For Q1
Portfolio Pulse from Nabaparna Bhattacharya
Eli Lilly and Company (NYSE:LLY) has announced a 15% increase in its quarterly dividend to $1.30 per share for Q1 2024, reflecting its financial strength. The dividend will be paid on March 8, 2024, to shareholders on record as of February 15, 2024. The company's recent FDA approval for Jaypirca and strong Q3 sales, particularly from Mounjaro, Verzenio, and Jardiance, have contributed to its positive outlook. However, Eli Lilly revised its FY23 adjusted EPS downwards while maintaining its revenue forecast. LLY shares saw a slight decrease of 0.07% to $587.87.
December 08, 2023 | 5:18 pm
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POSITIVE IMPACT
Eli Lilly has increased its quarterly dividend by 15%, indicating a strong financial position, backed by recent FDA approval for Jaypirca and solid Q3 sales growth.
The dividend hike is a strong positive signal to investors, often leading to a bullish sentiment in the short term. The FDA approval for Jaypirca and the reported sales growth further reinforce the company's robust financial health, which is likely to have a positive impact on the stock price. However, the downward revision of the FY23 adjusted EPS might temper some of the positive sentiment.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100