Gilead hikes dividend, forecasts 2021 growth
The company has declared an increase of 4.4% in its quarterly cash dividend
Stocks impacted: Gilead Sciences (GILD)
After posting a 26% rise in fourth-quarter 2020 revenue, driven by sales of its antiviral drug, which is used to treat COVID-19 patients, Gilead Sciences forecast its 2021 results largely ahead of analyst expectations. Remdesivir brought in $1.9 billion in the fourth quarter ended December 31. Fourth-quarter revenue totaled $7.42 billion while adjusted quarterly earnings came in at $2.19 per share. Also, the company’s Board of Directors has declared an increase of 4.4% in its quarterly cash dividend, beginning in the first quarter of 2021. For 2021, the company projected an adjusted earnings range with a midpoint of $7.10 per share. Shares of the Gilead finished 2.03% higher overnight and were up 2.5% in extended trading.
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