Lilly announces new $15 billion share repurchase program and seventh consecutive 15% dividend increase Today, the board of directors of Eli Lilly and Company (NYSE: LLY) approved a new $15 billion share repurchase program. The company's prior $5...

INDIANAPOLIS , Dec. 9, 2024 /PRNewswire/ -- Today, the board of directors of Eli Lilly and Company (NYSE: LLY ) approved a new $15 billion share repurchase program. The company's prior $5 billion share repurchase program was completed in the fourth quarter of 2024.

Additionally, for the seventh consecutive year, the board has announced a 15% increase in its quarterly dividend and declared a dividend for the first quarter of 2025 of $1.50 per share. The dividend is payable on March 10, 2025, to shareholders of record at the close of business on February 14, 2025.

"As Lilly has entered into a period of rapid growth, our capital allocation priorities remain the same. We will continue to focus on supporting new launches, expanding our manufacturing capacity, and advancing our pipeline through research and development and business development," said Lucas Montarce, Lilly executive vice president and chief financial officer. "However, given the strong growth profile of the company, we're also increasing the amount of capital we plan to return to shareholders. We expect to execute this program over the next three years."

Purchases may be made from time to time at management's discretion. The share repurchase program permits shares to be repurchased in a variety of methods, including open market purchases, accelerated share repurchases, or other privately negotiated transactions. The share repurchase program has no time limit and may be suspended or discontinued at any time.

Lilly Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995) related to expected dividend payments and potential share repurchases and reflects Lilly's current beliefs and expectations. However, there are significant risks and uncertainties in pharmaceutical research and development, as well as in business development activities and capital allocation strategies related to the company's business and actual results may differ materially due to various factors. For a further discussion of these and other risks and uncertainties that could cause actual results to differ from Lilly's expectations, please see Lilly's most recent Forms 10-K and 10-Q filed with the U.S. Securities and Exchange Commission. Lilly undertakes no duty to update forward-looking statements.

SOURCE Eli Lilly and Company