CVS Corporation Increases Quarterly Dividend 7%
WOONSOCKET, R.I.--(BUSINESS WIRE)--Jan. 12, 2006--CVS Corporation (NYSE:CVS) today announced that its Board of Directors has approved an increase in its quarterly dividend of approximately 7%, to 3.875 cents per share on the Common Stock of the Corporation, payable February 3, 2006 to holders of record on January 23, 2006. This increase translates into an annual rate of 15.5 cents per share, up 1 cent from the previous rate of 14.5 cents.
"We have elected to increase our dividend for the third consecutive year," stated Dave Rickard, Executive Vice President, Chief Financial Officer, and Chief Administrative Officer. "This reflects our continued strong financial performance, our optimism about future growth, and our desire to further enhance total returns for our shareholders."