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CVS Health hikes low end of 2016 forecast range, dividend

CVS Health raises low end of 2016 earnings forecast, quarterly cash dividend

CVS Health hikes low end of 2016 forecast range, dividend

CVS Health is hiking its dividend and tightening its 2016 earnings forecasts a couple months after underwhelming investors with its initial outlook.

The nation's second-largest drugstore chain says it now expects earnings for next year to range between $5.73 and $5.88 per share. That compares to an initial guidance range it laid out in October that started at $5.68 per share.

FactSet says analysts currently expect earnings of $5.82 per share.

CVS Health Corp. also says it will now pay shareholders starting in February a quarterly cash dividend of 42.5 cents per share, up from 35 cents. That adds up to an annual dividend of $1.70 per share.

The Woonsocket, Rhode Island, company also runs one nation's largest pharmacy benefits management businesses.

Its shares rose 2 percent in premarket trading Wednesday.


Updated : 2021-09-20 11:12 GMT+08:00