CVS Announces Two-for-One Stock Split.WOONSOCKET, R.I. -- CVS (1) (Concurrent Versions System) A version control system for Unix that was initially developed as a series of shell scripts in the mid-1980s. CVS maintains the changes between one source code version and another and stores all the changes in one file. Corporation (NYSE NYSE See: New York Stock Exchange : CVS) today announced that its Board of Directors declared a two-for-one stock split, to be effected in the form of a stock dividend, distributable on June 6, 2005 to shareholders of record on May 23, 2005. CVS shareholders will therefore receive a dividend of one share of CVS stock for every share of stock owned as of May 23, 2005. "The determination to effect a stock split was based on the strong growth we have seen over the past few years, and our expectation that the future continues to hold great promise," stated Tom Ryan
Tom Ryan (born August 3 1986), who plays under the pseudonym Ogre 2, is a professional gamer from Pickerington, Ohio, USA. , Chairman, President, and Chief Executive Officer of CVS Corporation. "Our favorable outlook reflects both the strength of our industry and our unique competitive position. We remain optimistic that we will continue to capitalize on growth opportunities in the retail drug, PBM PBM - play by mail. See play by electronic mail. , mail order and specialty pharmacy channels," continued Mr. Ryan. The Company intends to utilize the Depository Trust Company's Direct Registration System in connection with this stock split. The Direct Registration System allows for electronic registration of eligible securities in an investor's name on the books of the Company's transfer agent, thereby eliminating the need for replacement stock certificates. This reduces the risk associated with the processing of paper stock certificates, including turnaround delays, mail losses, and risks associated with stolen, forged, or counterfeit securities. CVS is America's largest retail pharmacy, operating over 5,400 retail and specialty pharmacy stores in 36 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). . With more than 40 years of dynamic growth in the retail pharmacy industry, CVS is committed to being the easiest pharmacy retailer for customers to use. CVS has created innovative approaches to serve the healthcare needs of all customers through its CVS/pharmacy(R) stores; its online pharmacy, CVS.com(R); and its pharmacy benefit management A Pharmacy Benefit Manager (PBM) is a third party administrator of prescription drug programs. They are primarily responsible for processing and paying prescription drug claims. , mail order and specialty pharmacy subsidiary, PharmaCare(R). General information about CVS is available through the Investor Relations Investor relations The process by which the corporation communicates with its investors. portion of the Company's website, at http://investor.CVS.com, as well as through the press room portion of the Company's website, at www.cvs.com/pressroom. |
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