Eli Lilly And Co Declares Third-Quarter 2012 Dividend; Resumes Share Repurchase Program

Eli Lilly And Co announced that it has declared a dividend for the third quarter of 2012 of $0.49 a share on outstanding common stock. The dividend is payable September 10, 2012 to shareholders of record at the close of business on August 15, 2012. The Lilly Board of Directors has also authorized the resumption of a share repurchase program that was started in 2000, under which the Company has thus far purchased $2.58 billion of shares of a total authorization of $3.0 billion. The Company expects to complete this program by purchasing the remaining $420 million in shares by the end of 2012. The Company also anticipates resuming systematic share repurchases following the completion of the current program. The size and timing of these additional share repurchases will be subject to board approval and will be balanced with other cash flow considerations, including the funding of the Company's dividend, capital expenditures, potential business development opportunities and worldwide macroeconomic conditions. All purchases under the share repurchase program will be made on the open market at prevailing prices. Purchases will be made over a period to be determined by management of the company. Shares acquired will be retired.