On May 3, 2021 The board of directors of Eli Lilly and Company (NYSE: LLY) (the "Board") reported that it has declared a dividend for the second quarter of 2021 of $0.85 per share on outstanding common stock (Press release, Eli Lilly, MAY 3, 2021, View Source [SID1234579002]). The dividend is payable on June 10, 2021 to shareholders of record at the close of business on May 14, 2021.

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The Board has also authorized the repurchase of up to an additional $5 billion of the company’s common stock. This repurchase authorization is in addition to the authorization remaining under the share repurchase program authorized by the Board in June 2018. As of March 31, 2021, there was $1 billion remaining under the 2018 share repurchase program.

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