Declared Dividend • Jul 16
First quarter dividend of US$0.67 announced Shareholders will receive a dividend of US$0.67. Ex-date: 22nd July 2026 Payment date: 3rd August 2026 Dividend yield will be 2.5%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is not covered by earnings (115% earnings payout ratio). However, it is well covered by cash flows (46% cash payout ratio). The dividend has increased by an average of 6.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 28% to bring the payout ratio under control. EPS is expected to grow by 88% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Announcement • Jul 10
CVS Health Declares Quarterly Dividend on Common Stock, Payable on August 3, 2026 CVS Health announced that its board of directors has approved a quarterly dividend of 0.665 USD cents per share on the Common Stock of the Corporation. The dividend is payable on August 3, 2026, to holders of record on July 23, 2026. Announcement • Jul 06
CVS Health Corporation to Report Q2, 2026 Results on Aug 05, 2026 CVS Health Corporation announced that they will report Q2, 2026 results Pre-Market on Aug 05, 2026 Announcement • May 30
Cvs Caremark Delivers Affordability and Access to Glp-1 Weight Management Medications with Expanded Coverage Options CVS Health announced updates to its most common commercial formularies, expanding GLP-1 options for members-including the reintroduction of Zepbound(r) (tirzepatide) as a covered medication. These changes build on Caremark's industry leading efforts as a pharmacy benefits manager to explore all potential avenues that help patients get FDA-approved weight management medications at an affordable cost. Plan sponsors that adopt CVS Caremark template formularies retain discretion to customize coverage for their members. What changes is CVS Caremark making to its weight management drug coverage? CVS Caremark will add Zepbound back to our commercial formularies as an additional preferred option October 1, 2026, increasing access to GLP-1s at a more affordable price for plan sponsors who elect to provide coverage of those medications for their members. Additionally, effective June 1, 2026, CVS Caremark will remove the new-to-market block on Foundayo(tm)(orforglipron), a new oral GLP-1 therapy, where approved for coverage by plans. Over the past year, we've been actively driving change in the GLP-1 weight management space to help lower costs. Our approach has made a real difference, enabling us to now expand options while continuing to make progress on affordability. We expect these changes to help drive increased savings in the weight management category - after a history of delivering double digit savings for our template formulary customers year over year - while expanding choice for our members. A formulary is a list of prescription medications available under a health plan, managed with the support of a pharmacy benefit manager. CVS Caremark regularly evaluates formularies -which plan sponsors may adopt or customize based on the needs of their populations -to help support member access to clinically appropriate treatments as evaluated by an independent Pharmacy & Therapeutics committee while helping manage overall medication costs for customers and the members they serve.How is CVS Caremark supporting customers and members through these changes?CVS Caremark will provide advanced communication and/or support to customers, consultants, providers and members to help ensure a smooth transition to covered therapies. These efforts include proactive outreach, educational resources, and clinical support programs.These formulary updates are one component of CVS Health's ongoing efforts to address rising prescription drug costs and improve access to affordable medications for the millions of Americans it serves. Announcement • May 29
Aetna Launches Aetna Mental Health on Demand to Provide Real Time Access to Care and Ongoing Support Aetna, a CVS Health company, announced Aetna Mental Health On Demand to broaden access to care and give members greater control over their mental health journey. Beginning in 2027, Aetna members enrolled in the service will have real time access to care and a plan to receive ongoing support via the member website. In the inaugural Aetna Provider Survey, 37% of Behavioral Health providers said improved access to care for patients would be the one thing they would change about the health system today - their top choice. In addition, 1 in 4 said the most important action payers could take to address their challenges would be programs to help patients navigate the health care system. With Aetna Mental Health On Demand, members aged 13 and older have real-time access to a licensed clinician through chat, phone or video via the Aetna member website. Aetna clinicians are trained on a clinically-proven single session intervention model, which is designed to provide members with both immediate impact - including crisis management - and a personalized plan. They also advocate for members, helping to connect them to additional resources, assist with scheduling follow-up appointments and help coordinate their ongoing care. AI-powered tools embedded within this dynamic platform streamline note-taking and administrative tasks, allowing clinicians to remain fully focused on each member and their immediate needs. During the initial launch, Aetna clinicians engaged in hundreds of chats and demonstrated the immediate impact of Aetna Mental Health On Demand by answering members in just 13 seconds. Aetna has also enhanced its clinician-led care management program with advanced predictive tools that identify members at risk of future inpatient admissions, as well as those with immediate, acute needs, in near real time. Through proactive outreach, care managers connect members to individualized resources and provide ongoing support throughout their treatment - helping to improve outcomes and reduce avoidable hospitalizations. Aetna's updated mental health approach, which includes Aetna Mental Health On-Demand and proactive care management, is currently available for self-insured customers for a January 1, 2027 launch. Announcement • May 28
Cvs Health Expands Glp-1 Weight Management Medication Coverage with Reintroduction of Zepbound and Removal of New-To-Market Block on Foundayo CVS Health announced updates to its most common commercial formularies, expanding GLP-1 options for members—including the reintroduction of Zepbound (tirzepatide) as a covered medication. CVS Caremark will add Zepbound back to commercial formularies as an additional preferred option October 1, 2026, increasing access to GLP-1s at a more affordable price for plan sponsors who elect to provide coverage of those medications for their members. Additionally, effective June 1, 2026, CVS Caremark will remove the new-to-market block on Foundayo (orforglipron), a new oral GLP-1 therapy, where approved for coverage by plans. CVS Caremark regularly evaluates formularies—which plan sponsors may adopt or customize based on the needs of their populations—to help support member access to clinically appropriate treatments as evaluated by an independent Pharmacy & Therapeutics committee while helping manage overall medication costs for customers and the members they serve. CVS Caremark will provide advanced communication and/or support to customers, consultants, providers and members to help ensure a smooth transition to covered therapies. These efforts include proactive outreach, educational resources, and clinical support programs. These formulary updates are one component of CVS Health's ongoing efforts to address rising prescription drug costs and improve access to affordable medications for the millions of Americans it serves. Announcement • May 08
CVS Health Corporation Raises Unaudited Earnings Guidance for the Full Year Ending December 31, 2026 CVS Health Corporation raised unaudited earnings guidance for the full year ending December 31, 2026. The Company is increasing its full-year 2026 GAAP diluted EPS range to $6.24 to $6.44 from $5.94 to $6.14 to reflect increases in the Health Care Benefits and Pharmacy & Consumer Wellness segments, while maintaining a cautious view for the remainder of the year in light of continued elevated cost trends and the potential for macro headwinds. Net income attributable to CVS Health (GAAP measure) expected in the range of $8,032 million to $8,288 million. The company expects total revenues At least $405.0 million. Announcement • May 07
CVS Health Updates Formulary to Expand Biosimilar Adoption CVS Health had announced updates to its most common commercial template formularies that will expand the use of lower-cost biosimilars across multiple therapeutic categories, including changes effective July 1, 2026, that will prefer interchangeable biosimilars over select reference brands. Effective July 1, 2026, CVS Caremark will implement targeted updates to its most common commercial template formularies to increase adoption of U.S. Food and Drug Administration (FDA)-approved biosimilars with no clinically meaningful differences from the reference product and, in many cases, designated as interchangeable. As part of these updates, CVS Caremark will transition from Stelara (ustekinumab) on its most common commercial template formularies to preferring lower-cost, interchangeable biosimilar alternatives—Pyzchiva and Yesintek. With this change, most members will pay $0 out-of-pocket for their therapy. In addition to changes involving Stelara, CVS Caremark is expanding biosimilar coverage across select specialty categories, including treatments for multiple sclerosis and rare blood disorders, such as biosimilar alternatives to therapies like Tysabri (with biosimilars Briumvi and Tyruko) and Soliris (biosimilar Epysqli). These biosimilars meet the same FDA standards for safety, effectiveness, and quality as their reference products and, where applicable, are designated as interchangeable, offering a more affordable option for patients and plan sponsors. These updates are part of CVS Caremark's broader formulary strategy, which prioritizes: Affordability: Leveraging competition to reduce net drug costs; Access: Expanding availability of clinically appropriate treatment options; Value: Supporting long-term sustainability for clients and members. A formulary is a list of prescription medications available under a health plan, managed with the support of a pharmacy benefit manager. CVS Caremark regularly evaluates its template formularies—which plan sponsors may adopt or customize based on the needs of their populations—to help support member access to clinically appropriate treatments, as evaluated by an independent Pharmacy & Therapeutics committee, while helping manage overall drug costs for clients and the members they serve. CVS Caremark will provide advanced communication and support to clients, consultants, providers and members to help ensure a smooth transition to preferred therapies. These efforts include proactive outreach, educational resources, and clinical support programs. These formulary updates are one component of CVS Health's ongoing efforts to address rising prescription drug costs and improve access to affordable medications for the millions of Americans it serves. Announcement • Apr 06
CVS Health Corporation, Annual General Meeting, May 14, 2026 CVS Health Corporation, Annual General Meeting, May 14, 2026. Declared Dividend • Mar 25
Fourth quarter dividend of US$0.67 announced Shareholders will receive a dividend of US$0.67. Ex-date: 22nd April 2026 Payment date: 4th May 2026 Dividend yield will be 3.8%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is not covered by earnings (191% earnings payout ratio). However, it is well covered by cash flows (43% cash payout ratio). The dividend has increased by an average of 6.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 112% to bring the payout ratio under control. EPS is expected to grow by 99% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Announcement • Mar 19
CVS Health Declares Quarterly Dividend, Payable on May 4, 2026 CVS Health® has announced that its board of directors has approved a quarterly dividend of sixty-six and one-half cents ($0.665) per share on the Common Stock of the Corporation. The dividend is payable on May 4, 2026, to holders of record on April 23, 2026. Reported Earnings • Feb 11
Full year 2025 earnings released: EPS: US$1.40 (vs US$3.67 in FY 2024) Full year 2025 results: EPS: US$1.40 (down from US$3.67 in FY 2024). Revenue: US$399.8b (up 7.9% from FY 2024). Net income: US$1.77b (down 62% from FY 2024). Profit margin: 0.4% (down from 1.2% in FY 2024). Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Healthcare industry in Europe. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Announcement • Feb 10
CVS Health Corporation Confirms Earnings Guidance for Full Year Ending December 31, 2026 CVS Health Corporation confirmed earnings guidance for full year ending December 31, 2026. For the period, the company confirmed GAAP diluted EPS guidance to be in the range of $5.94 to $6.14. New Risk • Jan 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 5.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Minor Risks Dividend is not well covered by earnings (dividend per share is over 7x earnings per share). Share price has been volatile over the past 3 months (5.5% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.1% net profit margin). Declared Dividend • Jan 09
Third quarter dividend of US$0.67 announced Shareholders will receive a dividend of US$0.67. Ex-date: 21st January 2026 Payment date: 2nd February 2026 Dividend yield will be 3.5%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 7x earnings). However, it is covered by cash flows (54% cash payout ratio). The dividend has increased by an average of 6.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 697% to bring the payout ratio under control. EPS is expected to grow by 183% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Announcement • Jan 07
CVS Health Declares Quarterly Dividend, Payable on February 2, 2026 CVS Health® has announced that its board of directors has approved a quarterly dividend of sixty-six and one-half cents ($0.665 cents) per share on the Common Stock of the Corporation. The dividend is payable on February 2, 2026, to holders of record on January 22, 2026. Announcement • Nov 21
CVS Health Appoints David Joyner as Chair of the Board, Effective January 1, 2026 CVS Health announced that its Board of Directors has elected President and Chief Executive Officer David Joyner as Chair of the Board, effective January 1, 2026. Following the effective date of this appointment, Michael Mahoney will continue to serve as the Board's Lead Independent Director, and Roger Farah, who is currently serving as Executive Chair of the Board, will continue to serve on the Board. Joyner was named President and CEO of CVS Health in October 2024, and has led significant operational, financial and cultural improvements in the Company's performance over the past year. In recognition of his leadership, nearly 40 years of experience in the health care industry, and the Company's future growth opportunities, the Board determined Joyner should also serve as Chair of the Board. Announcement • Sep 20
CVS Health®? Celebrates Reopening of Pacific Palisades Store Stains by Devating Wildions CVS Health®? were joined by state and local representatives to celebrate the recently reopened Pacific Palisades CVS Pharmacy store. Located at 864 Swarthmore Avenue, the store was damaged and forced to close during the wildfires that swept through California in January. After months of repairs, it is one of the first businesses to reopen in the Palisades, marking a milestone for the community and providing much-needed health and wellness items, snacks and grocery and household essentials for those who live and work in the area. The store has been rebuilt to feature an expanded pharmacy and private consultation and vaccination area, improved in-store delivery pickup area, and updated layout, decor and fixtures - offering patients, customers and caregivers a simpler, more accessible experience. In addition, the initial product mix has been curated to meet the needs of those currently shopping the store, primarily construction teams working in the area, and features an expanded assortment of grab-and-go foods, snacks, and drinks. As residents begin to return to the Pacific Palisades over the coming months and years, the store's offerings will shift to meet the evolving needs of the community. In the months since the wildfires, CVS Health has steadfastly supported the many communities devastated by the wildfires. Through grants to organizations providing direct, on-the-ground relief and in-kind product donations, support for residents across California has totaled more than $2 million to date. The Swarthmore Avenue store is open daily from 7:00 a.m. - 8:00 p.m. and the pharmacy is open Monday 9:00 a.m.- 7:00 p.m., Tuesday - Wednesday 8:00 a.m., 7:00 p.m. - 7:00 p.m, Thursday - Friday 9:00 a.m., 6:00 p.m., Saturday 9:00 a.m.' - 6:00 p.m. Announcement • Sep 18
CVS Health Declares Quarterly Dividend, Payable on November 3, 2025 CVS Health® has announced that its board of directors has approved a quarterly dividend of sixty-six and one-half cents ($0.665 cents) per share on the Common Stock of the Corporation. The dividend is payable on November 3, 2025, to holders of record on October 23, 2025. Announcement • Jul 31
CVS Health Corporation Revises Earnings Guidance for the Year Ending December 31, 2025 CVS Health Corporation revised earnings guidance for the year ending December 31, 2025. The company revised GAAP diluted EPS guidance range to $3.84 to $3.94 from $4.23 to $4.43. Net income attributable to CVS Health (GAAP measure) of $5,009 million to $4,883 million. Announcement • Jul 07
Cvs Health Announces A Quarterly Dividend, Payable on August 1, 2025 CVS Health has announced that its board of directors has approved a quarterly dividend of sixty-six and one-half cents ($0.665 cents) per share on the Common Stock of the Corporation. The dividend is payable on August 1, 2025, to holders of record on July 22, 2025. Announcement • May 13
CVS Health Celebrates Reopening of Hendersonville Store Destroyed by Hurricane Helene CVS Health announced the reopening of one of its Hendersonville CVS Pharmacy stores. Located at 522 South Main Street, the store was severely damaged during Hurricane Helene and forced to close last September. After months of repairs, it is the first store to reopen at the busy intersection of South Main Street and Spartanburg Highway, marking a milestone for the community, which suffered extensive damage when Clear Creek flooded during the massive storm. The store has been completely rebuilt to feature an expanded pharmacy and private consultation and vaccination area, improved in-store delivery pickup area, and updated layout, décor and fixtures – offering patients, customers and caregivers a simpler, more accessible experience. Announcement • May 01
CCVS Health Corporation Updates Earnings Guidance for the Full-Year of 2025 CCVS Health Corporation updated earnings guidance for the full-year of 2025. For the period, the company revised its GAAP diluted EPS guidance range to $4.23 to $4.43 from $4.58 to $4.83. Upcoming Dividend • Apr 10
Upcoming dividend of US$0.67 per share Eligible shareholders must have bought the stock before 17 April 2025. Payment date: 01 May 2025. Payout ratio is a comfortable 73% and this is well supported by cash flows. Trailing yield: 3.9%. Lower than top quartile of Italian dividend payers (6.1%). Higher than average of industry peers (2.7%). Announcement • Apr 07
CVS Health Corporation, Annual General Meeting, May 15, 2025 CVS Health Corporation, Annual General Meeting, May 15, 2025. 
