CVS Health Corporation (CVS) will raise its quarterly dividend to $0.50 per share next year.

Today CVS provided investors with more details about the dividend, that was already communicated last week.

In its press release last week the pharmacy company didn't mention any pay or record dates for the increased dividend.  According to CVS Health 2017 marks the 14th year of consecutive dividend increases.

A week later we know that the dividend will be paid on February 2, 2017 to shareholders of record on January 24, 2017.

The new annual dividend of $2 per share translates into an estimated yield of 2.6%. 

CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy health care company. CVS has three reportable segments: Pharmacy Services, Retail/LTC and Corporate. The Pharmacy Services business generates revenue from a full range of pharmacy benefit management (“PBM”) solutions. Retail/LTC Segment sells prescription drugs and a wide assortment of general merchandise. The Corporate Segment provides management and administrative services to support the company.