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Data last updated: Oct 17, 2026
Snapshot (as of Oct 17, 2026): CVS Health Corporation (CVS) pays a $2.66 annual dividend ($0.67 quarterly), yielding 2.87% at $92.36/share. Next ex-dividend date 2026-10-22. 28 consecutive years of dividend growth (Dividend Aristocrat). Source: Yahoo Finance, aggregated by MerryDiv.
Dividend Yield: 2.87%
Annual Dividend: $2.66 per share
Payout Ratio: 70.0%
Ex-Dividend Date: 2026-10-22
Dividend Frequency: quarterly
Sector: Healthcare
Years of Dividend History: 42
CVS Health Corporation dividend history spans 42 years, making it one of the longer-running payers in the healthcare sector. CVS operates across pharmacy benefit management, health insurance, and retail pharmacy, serving employer groups, Medicare and Medicaid enrollees, and individual consumers. The current yield is 3.09%, with a trailing annual dividend rate of $2.66 per share paid quarterly, and the next ex-dividend date is October 22, 2026. A Dividend Aristocrat with 28 consecutive years of increases, CVS suits income investors who want healthcare sector exposure with a low-volatility profile, reflected in a beta of 0.596.
CVS Health Corporation pays out 70.0% of earnings as dividends, a payout ratio classified as elevated (60–75%). The company's three operating segments, spanning pharmacy benefit management, health insurance plans, and retail pharmacy, serve a broad base of recurring customers including Medicare, Medicaid, and employer-sponsored plan members, which supports demand for its services. CVS Health Corporation dividend safety faces its most visible pressure from that 70.0% payout ratio, which leaves a narrower margin for earnings volatility than lower-payout peers and limits the company's flexibility if profitability contracts.
CVS Health Corporation dividend history shows a CAGR of 12.7% per year from 2011 to 2025. The per-share dividend grew from $0.50 to $2.66 over that period (2026 is a partial year and excluded from the CAGR calculation). Growth was not linear: the dividend held flat at $2.00 from 2018 through 2021, a four-year stretch that pulled the long-run average down, and the largest single-year jump in the window was 38.5% in 2013.
| Period | CAGR | From | To |
|---|---|---|---|
| 3-Year | +6.5% | $2.20 (2022) | $2.66 (2025) |
| 5-Year | +5.9% | $2.00 (2020) | $2.66 (2025) |
| 10-Year | +6.6% | $1.40 (2015) | $2.66 (2025) |
CVS Health Corporation stock fits dividend investors who want a moderate-yielding healthcare payer with a long increase streak. The current yield of 3.09% sits in the moderate (2–4%) range, slightly above the 5-year average of 3.01%, which means income buyers are getting a marginally better entry yield than the recent norm. As a Dividend Aristocrat with 28 consecutive years of increases, CVS has demonstrated a commitment to growing the payout across multiple business cycles. The trade-off is a 70.0% payout ratio that leaves less room for error, and the four-year dividend freeze from 2018 to 2021 shows that growth is not guaranteed even when the streak technically continues.
CVS is a Dividend Aristocrat with 28 consecutive years of dividend increases.
| Payment Date | Amount per Share |
|---|---|
| 2026-10-22 | $0.6650 |
| 2026-07-23 | $0.6650 |
| 2026-04-23 | $0.6650 |
| 2026-01-22 | $0.6650 |
| 2025-10-23 | $0.6650 |
| 2025-07-22 | $0.6650 |
| 2025-04-22 | $0.6650 |
| 2025-01-23 | $0.6650 |
| 2024-10-21 | $0.6650 |
| 2024-07-22 | $0.6650 |
| Year | Total Dividends |
|---|---|
| 2026 | $2.6600 |
| 2025 | $2.6600 |
| 2024 | $2.6600 |
| 2023 | $2.4200 |
| 2022 | $2.2000 |
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