Eli Lilly (NYSE:LLY) is reaching into its pocket to hand out a shareholder distribution. The firm has declared a dividend of $0.49 per share of its common stock for its Q2. This will be distributed on June 10 to shareholders of record as of May 16. That amount matches each of Lilly's quarterly dividends stretching back to March 2009. Previous to that, it paid $0.47 per share.
The firm is a steady and reliable dividend payer. Since Sept. 2000, that distribution has gradually increased from $0.26 per share to the level of this newly declared payout.
The current dividend annualizes to $1.96 per share. That yields 3.6% at Lilly's most recent closing stock price of $54.47.
Fool contributor Eric Volkman has no position in Eli Lilly, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.