5/3, 10:06 PM (Source: TeleTrader)
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Lilly to buy back shares worth $5 billion

Eli Lilly and Company announced on Monday that its board of directors approved buying back another $5 billion worth of the firm's shares.

The repurchase is complementary to another stock buyback plan greenlighted by the board in June 2018, the company explained. Also, the board "has declared a dividend for the second quarter of 2021 of $0.85 per share on outstanding common stock," Eli Lilly revealed, adding that "the dividend is payable on June 10, 2021 to shareholders of record at the close of business on May 14, 2021."

The firm's shares were 1.88% up at 3:47 pm ET, selling for $186.22.

Breaking the News / MS