CVS Health Corporation
CVSHealthcare · Stock · quarterly payer
Forward Yield
2.47%
Annual Dividend
$2.66
Payout Ratio
117%
5-Yr Growth
5.9%
Ex-Date
Jul 23, 2026
Frequency
Quarterly
Summary
As of July 2026, CVS Health Corporation (CVS) yields 2.47% ($2.66 per share annually), with a blended fair-value estimate of $126.39 — +18% upside, so it screens as undervalued. Dividend safety grade: A (85/100).
Is CVS a good dividend stock?
YesCVS Health Corporation (CVS) pays a quarterly dividend yielding 2.47% ($2.66/yr), with 0 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Advantages
- Strong 5.9% 5-yr dividend growth
- Top-tier dividend safety score
Risks
- Cut its dividend in 1996
- Elevated payout ratio (117%)
Key Data
- Dividend Yield
- 2.47%
- Payout Ratio
- 117%
- Annual Dividend
- $2.66
- 5-Yr Avg Growth
- 5.9%
- Ex-Dividend Date
- Jul 23, 2026
- Years of Growth
- 0
- Frequency
- quarterly
- Beta
- 0.60
- Market Cap
- $141.1B
- P/E Ratio
- 47.3
- 5-Yr Total Return
- 24%
- 52-Week Range
- $58.50 – $108.97
- Dividend Safety
- A · 85/100
- Ever Cut?
- Yes (1996)
Frequently Asked Questions
CVS Price — Last 12 Months
Daily close
Price Return
1 Year
+47%
3 Years
+65%
5 Years
+24%
52-Week Range
$58.50 – $108.97
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is CVS worth?
Undervaluedmedium confidenceOur blended fair-value estimate for CVS Health Corporation is $126.39 per share, versus a market price of $107.47. That implies 18% of upside — a margin of safety of about 15%.
Fair Value
$126.39
Current Price
$107.47
Upside
+18%
Margin of Safety
15%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about 5.9% annual free-cash-flow growth. We model 14.8% — below our estimate, leaving room for upside if the business executes.
Assumptions: 7.3% discount rate (CAPM), 14.8% stage-1 growth, 2.5% terminal growth, $2.28 EPS, $2.66 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
CVS Dividend Safety Score
Very Safe
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Apr 23, 2026 | — | $0.6650 | regular |
| Jan 22, 2026 | — | $0.6650 | regular |
| Oct 23, 2025 | — | $0.6650 | regular |
| Jul 22, 2025 | — | $0.6650 | regular |
| Apr 22, 2025 | — | $0.6650 | regular |
| Jan 23, 2025 | — | $0.6650 | regular |
| Oct 21, 2024 | — | $0.6650 | regular |
| Jul 22, 2024 | — | $0.6650 | regular |
| Apr 19, 2024 | — | $0.6650 | regular |
| Jan 19, 2024 | — | $0.6650 | regular |
| Oct 19, 2023 | — | $0.6050 | regular |
| Jul 20, 2023 | — | $0.6050 | regular |
| Apr 20, 2023 | — | $0.6050 | regular |
| Jan 19, 2023 | — | $0.6050 | regular |
Income Calculator
At $2.66 / yr per share
