INDIANAPOLIS, Dec. 17, 2012 /PRNewswire/ -- The board of directors of Eli Lilly and Company (NYSE: LLY) today declared a dividend for the first quarter of 2013 of $0.49 per share on outstanding common stock. The dividend is payable March 8, 2013 to shareholders of record at the close of business on February 15, 2013. The Lilly board of directors also authorized the initiation of a new $1.5 billion share repurchase program, which the company anticipates completing in 2013. The company recently completed a $3.0 billion share repurchase program that was started in 2000. All purchases under the new $1.5 billion 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. Lilly, a leading innovation-driven corporation, is developing a growing portfolio of pharmaceutical products by applying the latest research from its own worldwide laboratories and from collaborations with eminent scientific organizations. Headquartered in Indianapolis, Ind., Lilly provides answers – through medicines and information – for some of the world's most urgent medical needs. Additional information about Lilly is available at www.lilly.com. F-LLY This press release contains forward-looking statements that are based on management's current expectations, but actual results may differ materially due to various factors. There is no guarantee the company will be able to complete its planned 2013 share repurchases. There are significant risks and uncertainties in pharmaceutical research and development. There can be no guarantees with respect to pipeline products that the products will receive the necessary clinical and manufacturing regulatory approvals or that they will prove to be commercially successful. Pharmaceutical products can develop unexpected safety or efficacy concerns. The company's results may also be affected by such factors as competitive developments affecting current products; market uptake of recently launched products; the timing of anticipated regulatory approvals and launches of new products; regulatory actions regarding currently marketed products; issues with product supply; regulatory changes or other developments; regulatory compliance problems or government investigations; patent disputes; changes in patent law or regulations related to data-package exclusivity; other litigation involving current or future products; the impact of governmental actions regarding pricing, importation, and reimbursement for pharmaceuticals, including U.S. health care reform; changes in tax law; asset impairments and restructuring charges; acquisitions and business development transactions; and the impact of exchange rates and global macroeconomic conditions. For additional information about the factors that affect the company's business, please see the company's latest Form 10-Q and Form 10-K filed with the U.S. Securities and Exchange Commission. The company undertakes no duty to update forward-looking statements.