The free dividend tracker to help you grow your wealth. Link your brokerage accounts and MerryDiv automatically syncs your holdings and dividends.
Data last updated: Aug 31, 2026
Snapshot (as of Aug 31, 2026): CVS Health Corp. (CVS) pays a $2.66 annual dividend ($0.67 quarterly), yielding 2.86% at $93.06/share. Next ex-dividend date 2026-07-23. 19 consecutive years of dividend growth. Source: Yahoo Finance, aggregated by MerryDiv.
Dividend Yield: 2.86%
Annual Dividend: $2.66 per share
Payout Ratio: 69.6%
Ex-Dividend Date: 2026-07-23
Dividend Frequency: quarterly
Sector: Healthcare
Years of Dividend History: 42
CVS Health Corp. dividend income comes from one of the largest integrated health solutions companies in the United States, spanning retail pharmacies, pharmacy benefit management, and health insurance. The company currently pays $2.66 per share annually, distributed quarterly, with the next ex-dividend date on July 23, 2026. That works out to a 2.86% yield at current prices. CVS stock carries a beta of 0.596, making it a lower-volatility option that tends to appeal to income investors prioritizing steadiness over aggressive growth.
CVS Health Corp. pays out 69.6% of earnings as dividends, a payout ratio classified as elevated (60–75%). The company's diversified model, spanning health insurance through its Health Care Benefits segment, pharmacy benefit management, and retail pharmacy operations, generates demand across multiple healthcare channels, which supports the current payout level. CVS Health Corp. dividend safety faces its most visible pressure from that payout ratio itself: at nearly 70%, there is limited room to absorb an earnings decline before the dividend would come under strain.
CVS Health Corp. dividend history shows a CAGR of 12.7% per year from 2011 to 2025. The per-share payment grew from $0.50 to $2.66 over that window (2026 data is a partial year and excluded from the CAGR calculation). Growth was not linear: the largest single-year jump was 38.5% in 2013, while the dividend held flat at $2.00 from 2018 through 2021, a four-year stretch with zero increases.
| 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 stock fits dividend investors who want moderate income from a large, diversified healthcare business. The current yield of 2.86% sits in the moderate (2-4%) range and runs slightly above the 5-year average yield of 2.57%, meaning today's entry point offers a bit more income than the historical norm. The trade-off is a payout ratio of 69.6%, which leaves less cushion than lower-payout peers, and a growth rate that stalled for four years before resuming. What CVS offers is a multi-segment healthcare business with 19 consecutive years of dividend increases; what investors accept is an elevated payout and growth that has historically been uneven.
| Payment Date | Amount per Share |
|---|---|
| 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 |
| 2024-04-19 | $0.6650 |
| Year | Total Dividends |
|---|---|
| 2026 | $1.9950 |
| 2025 | $2.6600 |
| 2024 | $2.6600 |
| 2023 | $2.4200 |
| 2022 | $2.2000 |
Project income from CVS with the CVS dividend calculator or track your full portfolio with the dividend tracker.