Shares of pharmaceutical giant Eli Lilly (LLY) rose 3% on Jan. 31, after the company reported better-than-expected financial results for the fourth quarter.

Eli Lilly has had a difficult time over past few years. It has been impacted by falling drug prices and patent expirations.

In response, Eli Lilly increased its investments in research and development over the past several years. With more money being devoted to R&D, Eli Lilly held its dividend steady from 2009-2014.

As a result, Eli Lilly is not a Dividend Achiever, a group of 272 stocks with 10+ years of consecutive dividend increases.

That said, Eli Lilly has a strong history of consistent dividends. It has paid a dividend to shareholders for 130 consecutive years.

And, it returned to dividend growth in 2016.

Eli Lilly has a promising pipeline of new drugs. This should keep the company’s earnings-per-share and dividends growing in the years ahead.

Fourth-Quarter & 2016 Financial Results

Eli Lilly held four main objectives for 2016. These were, to return to revenue growth, expand profit margins, increase the dividend, and continue making progress in new drug development.

The company accomplished all four goals during the year.

Source: Fourth Quarter Presentation, page 4

Revenue increased 7% in the fourth quarter, to $5.76 billion. This was well above analyst expectations of $5.55 billion.

Revenue from Eli Lilly’s diabetes product Trulicity more than tripled in 2016, to $925 million. This helped offset a 3% sales decline for Humalog, which is Eli Lilly’s top-selling pharmaceutical product.

Separately, revenue from Cialis increased by 7% in 2016. Cialis is the company’s second-best seller, behind Humalog.

The U.S. was a source of strength for Eli Lilly in 2016. Domestic revenue increased 14% for the year, while international revenue declined 1%.

Revenue growth was attributed mostly to volume increases, which helped counteract drug price deflation. Volumes grew 8% in the fourth quarter, led by the company’s new products.