Eli Lilly Raises Dividend by 15%

One of the biggest and most durable pharmaceutical companies on the market is increasing its shareholder payout. Eli Lilly (NYSE: LLY) announced Monday that it is upping its quarterly dividend by 15%; it will pay its first $0.85 per-share distribution next March 10 to investors of record as of Feb. 12.

At the company's most recent closing stock price, the new amount would yield just under 2.2%.

In percentage terms, the latest hike matches that of its predecessors. In December, 2019, for example, Eli Lilly declared that its dividend would rise from nearly $0.65 per share to $0.74; previous raises were at or close to that 15% mark.

Source Fool.com