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Eli Lilly and Company is an American pharmaceutical company

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Eli Lilly Hikes Dividend 15% After Strong Quarter

Eli Lilly and Co. (LLY) is one of the world’s largest pharmaceutical companies. After becoming the first company to mass produce the polio vaccine and insulin, the company has become best known as the largest manufacturer of psychiatric medications, including Prozac.

Trulicity is the only product that generated more than 10% of its total revenue during the fourth quarter of 2020. Humalog, Alimta, Talz and Humulin round out the company’s top five products by revenue during the quarter.

Strong Financial Results

Eli Lilly & Co. reported fourth-quarter revenue that rose by 21.8% to $7.44 billion, beating consensus estimates by $170 million, and GAAP earnings of $2.32 per share, beating expectations by 26 cents per share. Guidance for fiscal year 2021 came in the middle of expectations, between $26.5 billion and $28 billion.

The company recently secured an Emergency Use Authorization from the FDA for bamlanivimab and baricitinib for the treatment of COVID-19 while reporting positive readouts for donanemab for Alzheimer’s disease, tirzepatide for type 2 diabetes and LOXO-305 for cancer.

The company raised its quarterly dividend by 15% to $0.85 per share, which represents a 1.6% forward yield. The dividend is payable on March 10, 2021, to shareholders on record as of February 12, 2021.

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