Eli Lilly Raised Its Quarterly Dividend By a Penny

Eli Lilly & Co. raised its quarterly dividend on Tuesday by 1 cent, or 2%, to 51 cents a share. The new dividend will be payable March 10, 2016 to shareholders of record on Feb. 12. At the drug maker's stock's Monday closing price of $86.38, the new payout would represent an annual dividend yield of 2.4%, compared with the S&P 500 dividend yield of 2.1%, according to FactSet. Lilly's stock, which was still inactive in premarket trade, has surged 25% year to date, while the S&P 500 edged up 0.9%.