SmarterDividends
CVS

CVS Health (CVS) Dividend

CVS Health Corporation · Healthcare · Healthcare Plans · quarterly payer

$81.96

Undervalued · +44% Add to Portfolio

As of Nov 5, 2026, CVS Health (CVS) pays a quarterly dividend of $0.6650 per share, or $2.66 a year, a 3.33% yield at its $81.96 share price. It pays every quarter, usually in February, May, August and November. It has a dividend safety grade of A.

Forward Yield

3.33%

Annual Dividend

$2.66

Payout Ratio

31%

5-Yr Growth

5.9%

Ex-Date

Oct 22, 2026

Frequency

Quarterly

Key facts about CVS's dividend

Data as of · Source: SmarterDividends data

  • As of Nov 5, 2026, CVS Health Corporation (CVS) has a forward dividend yield of 3.33%, based on an annual dividend of $2.66 per share and a share price of $81.96.
  • As of Nov 5, 2026, CVS's dividend safety grade from SmarterDividends is A (91 out of 100), which rates the dividend as very safe.
  • CVS last cut its regular dividend in 1996.
  • CVS's most recent ex-dividend date was Oct 22, 2026, for a dividend of $0.67 per share.
  • As of Nov 5, 2026, CVS pays out 31% of its trailing 12-month earnings as dividends (its payout ratio).
  • CVS's dividend has grown at an average rate of 5.9% a year over the past five years.
  • As of Nov 5, 2026, SmarterDividends' blended fair-value estimate for CVS is $118.19 per share, 44% above the $81.96 share price, so CVS screens as undervalued.
  • CVS Health Corporation (CVS) pays its dividend quarterly, 4 times a year.
  • CVS Health Corporation (CVS) has raised its regular dividend 29 times and cut it 4 times across the 169 payments on record since 1985. Its most recent change was a 9.9% increase to $0.665 per share, going ex-dividend on Jan 19, 2024. The last cut went ex-dividend on Jul 19, 2005.
  • CVS Health (CVS) has declared its first higher dividend of the year in December in 3 of the last 5 years; its most recent raise, 9.9%, was declared on Dec 5, 2023.
Cite this page

SmarterDividends, "CVS Dividend: Yield, Safety Grade & Next Ex-Date," updated Nov 5, 2026, https://smarterdividends.com/stocks/CVS

Is CVS a good dividend stock?

Yes

CVS Health Corporation (CVS) pays a quarterly dividend yielding 3.33% ($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

  • Comfortable payout ratio (31%)
  • Strong 5.9% 5-yr dividend growth
  • Top-tier dividend safety score

Risks

  • Cut its dividend in 1996

Key Data

Dividend Yield
3.33%
Payout Ratio
31%
Annual Dividend
$2.66
5-Yr Avg Growth
5.9%
Ex-Dividend Date
Oct 22, 2026
Years of Growth
0
Frequency
quarterly
Beta
—
Market Cap
$104.9B
P/E Ratio
9.5
5-Yr Total Return
1%
52-Week Range
$69.51 – $110.68
Dividend Safety
A · 91/100
Ever Cut?
Yes (1996)

CVS dividend raises and cuts

CVS Health Corporation (CVS) has raised its regular dividend 29 times and cut it 4 times across the 169 payments on record since 1985. Its most recent change was a 9.9% increase to $0.665 per share, going ex-dividend on Jan 19, 2024. The last cut went ex-dividend on Jul 19, 2005.

Ex-dateChangeOld → newMove
Jan 19, 2024Raise$0.605 → $0.665+9.9%
Jan 19, 2023Raise$0.550 → $0.605+10.0%
Jan 20, 2022Raise$0.500 → $0.550+10.0%
Jan 20, 2017Raise$0.425 → $0.500+17.6%
Jan 20, 2016Raise$0.350 → $0.425+21.4%
Jan 20, 2015Raise$0.275 → $0.350+27.3%
Jan 21, 2014Raise$0.225 → $0.275+22.2%
Jan 22, 2013Raise$0.163 → $0.225+38.0%
Jan 19, 2012Raise$0.125 → $0.163+30.4%
Jan 19, 2011Raise$0.0880 → $0.125+42.0%
Jan 20, 2010Raise$0.0760 → $0.0880+15.8%
Jan 21, 2009Raise$0.0690 → $0.0760+10.1%
Show all 33 changes since 1986
Ex-dateChangeOld → newMove
Jul 17, 2008Raise$0.0600 → $0.0690+15.0%
Apr 20, 2007Raise$0.0490 → $0.0600+22.4%
Jan 18, 2007Raise$0.0390 → $0.0490+25.6%
Jan 19, 2006Raise$0.0360 → $0.0390+8.3%
Jul 19, 2005Cut$0.0365 → $0.0360−1.4%
Jan 20, 2005Raise$0.0340 → $0.0365+7.4%
Oct 20, 2004Raise$0.0330 → $0.0340+3.0%
Apr 21, 2004Cut$0.0335 → $0.0330−1.5%
Jan 20, 2004Raise$0.0290 → $0.0335+15.5%
Jul 21, 1998Raise$0.0275 → $0.0290+5.5%
Oct 21, 1997Raise$0.0070 → $0.0275+292.9%
Oct 21, 1996Cut$0.0275 → $0.0070−74.5%
Jan 19, 1996Cut$0.0950 → $0.0275−71.1%
Jan 19, 1993Raise$0.0925 → $0.0950+2.7%
Jan 14, 1992Raise$0.0900 → $0.0925+2.8%
Jan 15, 1991Raise$0.0888 → $0.0900+1.4%
Jan 16, 1990Raise$0.0813 → $0.0888+9.2%
Jan 17, 1989Raise$0.0656 → $0.0813+23.8%
Jan 19, 1988Raise$0.0550 → $0.0656+19.3%
Jan 20, 1987Raise$0.0488 → $0.0550+12.8%
Jan 17, 1986Raise$0.0450 → $0.0488+8.3%
Every CVS payment →Download every raise and cut (CSV)
CVS ex-dividend date & scheduleNext ex-date Oct 22, 2026 · full ex-dividend historyView →CVS dividend historyEvery payment, totals by year, raises and cutsView →CVS dividend calculator100 shares pay $266.00 a year, $66.50 each quarterCalculate →CVS total return calculatorWhat $10,000 became, with dividends reinvested or taken as cashSee →

Frequently Asked Questions

Is CVS a good dividend stock?

Yes. CVS Health Corporation (CVS) pays a quarterly dividend yielding 3.33% ($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.

Is CVS undervalued?

Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, CVS's fair value is about $118.19 versus a $81.96 share price — so it looks undervalued (+44% vs. fair value).

Is CVS's dividend safe?

CVS has a dividend-safety grade of A (91/100), based on its payout coverage, free-cash-flow, 0-year growth streak, a dividend cut in 1996, debt and yield-versus-history.

What is CVS's fair value?

Our blended fair-value estimate for CVS is about $118.19 per share, roughly 44% above the current $81.96 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

Is CVS a buy, hold, or sell?

We don't issue formal ratings, but on the data CVS screens as "yes" and undervalued. CVS Health Corporation (CVS) pays a quarterly dividend yielding 3.33% ($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. This is research for your own analysis, not investment advice.

Will CVS cut its dividend?

CVS earns a dividend-safety grade of A (91/100), and has cut its dividend before (last in 1996). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

Does CVS pay a dividend?

Yes. CVS Health Corporation pays a quarterly dividend of about $2.66 per share annually, a forward yield of roughly 3.33%.

How much dividend does 100 shares of CVS pay?

At $2.66 per share a year, 100 shares of CVS pay $266.00 a year in dividends before tax, about $66.50 each quarter. Buying them costs about $8,196 at the Nov 5, 2026 price.

What is CVS's dividend yield?

As of Nov 5, 2026, CVS's forward dividend yield is 3.33%, based on a $2.66 annual dividend and a $81.96 share price.

What is CVS's dividend per share?

As of Nov 5, 2026, CVS pays $2.66 per share per year, distributed on a quarterly basis.

What is CVS's dividend payout ratio?

As of Nov 5, 2026, CVS's payout ratio is 31% of trailing 12-month earnings — a comfortable level that leaves room to keep raising the dividend.

How many years has CVS grown its dividend?

CVS does not currently have a long dividend-growth streak on record.

When is the next CVS ex-dividend date?

As of Nov 5, 2026, CVS's next ex-dividend date hasn't been announced. The most recent was Oct 22, 2026, for $0.67 per share.

Income Calculator

At $2.66 / yr per share

Per payment (quarterly)$66.50
Annual$266.00
Monthly avg$22.17
Full CVS dividend calculator →

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