Eli Lilly and Co. (LLY) has announced that its board of directors has sanctioned a new share repurchase initiative valued at $15 billion. This comes following the completion of the company's previous $5 billion share repurchase effort during the fourth quarter of 2024.
Furthermore, Eli Lilly revealed an increase of 15% in its quarterly dividend, declaring a dividend of $1.50 per share for the first quarter of 2025. This dividend is scheduled to be distributed on March 10, 2025, to shareholders registered by the end of business on February 14, 2025.
It is important to note that the share repurchase program does not have a fixed expiration date and may be paused or terminated at the company's discretion.
