Viatris Inc. (VTRS) will start paying a quarterly dividend of 11 cents per share. The company's Board of Directors declared a quarterly dividend of eleven cents ($0.11) for each issued and outstanding share of the company's common stock.
The dividend is payable on June 26, 2021 to stockholders of record at the close of business on May 24, 2021. The annual dividend of $0.44 per share yields approximately 2.9% at a stock price of $15 for VTRS. The ex-dividend date for this inaugural quarterly dividend is May 21, 2021.
Sanjeev Narula, Chief Financial Officer, stated: "I am pleased with our strong execution in the quarter and our focused delivery of our financial commitments, including the declaration of our inaugural quarterly dividend and the enhanced disclosures with which we are reporting our results. During the first quarter, we generated $799 million of free cash flow, primarily driven by solid net cash provided by operating activities and the timing of spend. We remain focused on our capital allocation priorities and maintaining our investment grade credit rating."
Viatris Inc., formerly Upjohn Inc., is a healthcare company. Viatris is specialized in delivering medicines to patients in countries and territories worldwide. It provides access to medicines, advance sustainable operations, develop solutions and leverage it's specializatiin to connect people to products and services through it's Global Healthcare Gateway. The company's portfolio comprises of more than 1,400 molecules across a wide range of therapeutic areas, spanning both non-communicable and infectious diseases, global brands, complex generic and branded medicines, portfolio of biosimilars and a variety of over-the-counter consumer products. It produces medicines for patients across a broad range of therapeutic areas, spanning both noncommunicable and infectious diseases, which include cardiovascular, oncology, immunology, women’s healthcare, diabetes and metabolism, gastroenterology, respiratory and allergy and dermatology. Viatris initiated a quarterly dividend in 2021.