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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| CVS Health Corporation | NYSE:CVS | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.81 | 1.47% | 55.96 | 56.43 | 54.96 | 55.22 | 23,942,832 | 01:00:00 |
From May 2021 to May 2024
By Colin Kellaher
CVS Health Corp. on Thursday said it plans to raise its dividend and buy back stock for the first time since 2017 in a bid to boost returns to shareholders.
The Woonsocket, R.I., healthcare-services giant said it will raise its annual dividend rate by 10%, to $2.20 from $2, effective with the next dividend in February.
The new payout represents an annual yield of about 2.36% based on Wednesday's closing price of $93.10, up from about 2.15%.
CVS said it also has authorized a $10 billion share-repurchase program, which it will be used to at least offset share count dilution next year.
CVS, which has about 1.32 billion shares outstanding, sports a market capitalization of nearly $123 billion.
Shares of CVS rose about 2.5% in premarket trading Thursday.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
December 09, 2021 07:18 ET (12:18 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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