This past week pharmaceutical company Eli Lilly declared it will hold it’s quarterly dividend at 0.49 cents a share for the 8th consecutive quarter. In doing so, Eli Lilly will be removed from the 2011 Dividend Aristocrats list, after 42 years of increasing dividends.
This is a bearish signal for the company. They must be very worried about long-term prospects when many of their blockbuster medications come off patent in the coming years. I’ll be keeping an eye on Eli Lilly to see whether they increase, hold, or decrease their dividends in the coming quarters.