WOONSOCKET – The CVS Corp.’s board of directors announced it has approved a 9 percent increase in its quarterly dividend to $0.0725 per share on the common stock of the corporation. The increase is payable Feb. 4 to holders of record on Jan. 24. The hike means an annual rate of 29 cents per share, up $0.025 from the previous rate of $0.265, the corporation said in a release.
“Given the company’s continued strong cash flow and healthy balance sheet, we have elected to increase our dividend again this year,” stated Dave Rickard, executive vice president, chief financial officer, and chief administrative officer. “This reflects our desire to further enhance total returns for our shareholders.”
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