Royalty Pharma Announces Dividend Increase

Rhea-AI Summary

Royalty Pharma plc (Nasdaq: RPRX) has declared a quarterly dividend of $0.20 per Class A share for the first quarter of 2023, marking a 5.3% increase from the previous quarter. The dividend will be paid on March 15, 2023, to shareholders of record as of February 16, 2023. CEO Pablo Legorreta emphasized the company's commitment to returning capital to shareholders while maintaining financial flexibility for future innovations, noting strong demand for capital in the biopharma sector.

Positive

• Quarterly dividend increased by 5.3% to $0.20 per Class A share.
• Strong commitment to returning capital to shareholders.
• Financial flexibility to fund innovation in biopharmaceuticals.

Negative

• None.

NEW YORK, Jan. 09, 2023 (GLOBE NEWSWIRE) -- Royalty Pharma plc (Nasdaq: RPRX) today announced that its board of directors has declared a dividend for the first quarter of 2023 of $0.20 per Class A share, reflecting a 5.3% increase in the company’s quarterly dividend over the previous quarter’s dividend. The dividend will be paid on March 15, 2023 to shareholders of record at the close of business on February 16, 2023.

“We are pleased to once again announce an increase to our dividend,” said Pablo Legorreta, Royalty Pharma’s founder and Chief Executive Officer. “We are committed to returning capital to our shareholders through our attractive dividend while retaining financial flexibility to fund innovation. We continue to see significant opportunities for value-enhancing growth as the demand for capital in the biopharma ecosystem remains very strong.”

About Royalty Pharma

Founded in 1996, Royalty Pharma is the largest buyer of biopharmaceutical royalties and a leading funder of innovation across the biopharmaceutical industry, collaborating with innovators from academic institutions, research hospitals and non-profits through small and mid-cap biotechnology companies to leading global pharmaceutical companies. Royalty Pharma has assembled a portfolio of royalties which entitles it to payments based directly on the top-line sales of many of the industry’s leading therapies. Royalty Pharma funds innovation in the biopharmaceutical industry both directly and indirectly - directly when it partners with companies to co-fund late-stage clinical trials and new product launches in exchange for future royalties, and indirectly when it acquires existing royalties from the original innovators. Royalty Pharma’s current portfolio includes royalties on more than 35 commercial products, including Vertex’s Trikafta, Kalydeco, Orkambi and Symdeko, Biogen’s Tysabri, AbbVie and Johnson & Johnson’s Imbruvica, Astellas and Pfizer’s Xtandi, GSK’s Trelegy, Novartis’ Promacta, Pfizer’s Nurtec ODT, Johnson & Johnson’s Tremfya, Roche’s Evrysdi, Gilead’s Trodelvy, and 12 development-stage product candidates. For more information, visit www.royaltypharma.com.

Royalty Pharma Investor Relations and Communications

+1 (212) 883-6772
ir@royaltypharma.com

 

FAQ

What is the dividend amount declared by Royalty Pharma for Q1 2023?

Royalty Pharma has declared a dividend of $0.20 per Class A share for Q1 2023.

When will the dividend for Royalty Pharma be paid?

The dividend will be paid on March 15, 2023.

What is the record date for Royalty Pharma's dividend?

The record date for the dividend is February 16, 2023.

How much has Royalty Pharma increased its dividend?

Royalty Pharma has increased its dividend by 5.3% over the previous quarter.

What is Royalty Pharma's commitment regarding shareholder returns?

Royalty Pharma is committed to returning capital to shareholders while funding innovation.