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Home Industry News Lilly raises first quarter dividend

Lilly raises first quarter dividend

19th December 2008

Lilly has said it has “moderately raised” its first quarter dividend.

The company’s board of directors approved a dividend of $0.49 (0.32 pounds) per share for the period, which will be payable on March 10th to shareholders.

It is a 4.3 per cent increase from Lilly’s prior quarterly amount of $0.47.

In other news, Lilly has said its $6.5 billion (4.37 billion pounds) acquisition of ImClone wiped out its 2008 profits.

However, speaking at the company’s annual investor update, the organisation added the purchase – which may also dent next year’s earnings – has not affected the strength of its product pipeline.

Speaking at the time to the Associated Press, chief executive of Lilly John Lechleiter said: “All these moves strengthen our business and our pipeline, and we intend to continue this aggressive pace.”

“There’s absolutely no evidence that these large-scale mergers do anything other than assuage short-term pain,” he added to the news agency.

Based in Indianapolis, US, Lilly was founded on May 10th, 1876.

It employs 40,217 people around the world, of which 7,946 are within research and development.

The company has products marketed in 143 countries, with manufacturing plants in 13.

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