On December 15, 2022, CVS Health Corporation (CVS) announced that it will raise its quarterly dividend by 10% to $0.605 per share next year. This matches the 2021 dividend hike by CVS and marks the 2nd consecutive year of dividend growth. The 5 year CAGR for the CVS dividend now jumps to 3.9%.
The next CVS dividend is payable on February 1, 2023, to holders of record on January 20, 2023. The new annual dividend of $2.42 per share translates into an estimated yield of 2.5% at a stock price of $95.45.
CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. CVS Health segments include Pharmacy Services, Retail/LTC, Health Care Benefits and Corporate/Other. CVS Health, formerly known as CVS Caremark, has paid a dividend to shareholders every year since at least 1985.