INDIANAPOLIS - Eli Lilly and Company (NYSE: NYSE:LLY), a global healthcare leader, announced a dividend for the third quarter of 2024 amounting to $1.30 per share on its outstanding common stock. This payment is scheduled for September 10, 2024, for shareholders who are on record by August 15, 2024.
The announcement follows Eli Lilly's long-standing practice of sharing profits with its shareholders. As a pharmaceutical company with nearly 150 years of history, Lilly focuses on creating medicines that address significant health challenges faced worldwide. Its portfolio includes treatments for diabetes, obesity, Alzheimer's disease, immune system disorders, and various cancers.
Lilly emphasizes its commitment to innovation and diversity in clinical trials, aiming to ensure that its medicines are accessible and affordable. While the company's press release highlights its mission to improve global health, it also includes a cautionary statement about forward-looking statements. These statements are subject to risks and uncertainties, and actual dividend payments could differ from expectations due to various factors in pharmaceutical research and development, as well as business and capital allocation strategies.
Investors and stakeholders are reminded that pharmaceutical research is inherently risky, and outcomes may not always align with projections. Eli Lilly's filings with the United States Securities and Exchange Commission provide further insight into the risks and uncertainties that could impact the company's business and financial results.
The information regarding the dividend declaration is based on a press release statement from Eli Lilly and Company.
InvestingPro Insights
Eli Lilly and Company (NYSE: LLY) continues to demonstrate its robust financial performance and commitment to shareholder returns. With a notable market capitalization of $808.12 billion, the company stands as a formidable player in the pharmaceutical industry. Eli Lilly's focus on innovation and a diverse portfolio has contributed to impressive revenue growth, with the last twelve months as of Q1 2024 witnessing a 29.76% increase, reaching $35.93 billion. This growth is not just a spike but is also reflected in the quarterly figures, with a 25.98% revenue growth reported in Q1 2024.
Investors looking at dividend reliability will find comfort in an InvestingPro Tip that highlights Eli Lilly's history of dividend payments, having maintained them for an impressive 54 consecutive years. Additionally, the company has raised its dividend for 9 consecutive years, showcasing a strong commitment to returning value to shareholders. This commitment is further underlined by the dividend growth over the last twelve months, which stands at 15.04%.
However, it is important for investors to consider valuation metrics as well. The company is currently trading at a high earnings multiple, with a P/E ratio of 131.49 and an adjusted P/E ratio for the last twelve months as of Q1 2024 at 84.86. While this may suggest a premium valuation, Eli Lilly's continued profitability, as indicated by a robust gross profit margin of 80.16%, provides a solid foundation for its stock price. Moreover, an InvestingPro Tip points out that the company is expected to grow its net income this year, indicating potential for continued financial strength.
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