CVS Corporation Increases Quarterly Dividend 9%.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 has approved a 9% increase in its quarterly dividend, to $0.0725 per share on the Common Stock of the Corporation, payable February 4, 2005 to holders of record on January 24, 2005. This increase translates into an annual rate of $0.29 per share, up $0.025 from the previous rate of $0.265. "Given the Company's continued strong cash flow and healthy balance sheet, we have elected to increase our dividend again this year," stated Dave Rickard, Executive Vice President, Chief Financial Officer, and Chief Administrative Officer A chief administrative officer (CAO) is responsible for administrative management of private, public or governmental corporations. The CAO is one of the highest ranking members of an organization, managing daily operations and usually reporting directly to the chief executive . "This reflects our desire to further enhance total returns for our shareholders." CVS is America's #1 retail pharmacy, operating over 5,000 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. and specialty pharmacy subsidiary, PharmaCare(R)Management Services. General information about CVS is available through the Investor Relations portion of the Company's website, at http://investor.CVS.com. |
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