CVS Health’s (CVS) Payout Strength Compared to Other October Dividend Stocks

CVS Health Corporation (NYSE:CVS) is included among the Best High Yield Stocks to Buy in October.

CVS Health’s (CVS) Payout Strength Compared to Other October Dividend Stocks

CVS Health Corporation (NYSE:CVS) is much more than a pharmacy chain. Besides dispensing medications, it offers healthcare services such as lab work, health screenings, vaccinations, and treatment for minor injuries at its in-store clinics. The business has a workforce of more than 40,000 healthcare practitioners, including physicians, pharmacists, nurses, and nurse practitioners, to provide these services.

CVS Health Corporation (NYSE:CVS) owns Aetna, a health insurer, having acquired it in 2018. Aetna is the fifth largest health insurer in the U.S. with coverage for 36 million people.

CVS Health Corporation (NYSE:CVS) commands about 27% of the nationwide prescription volume in the pharmacy line of business. In recent years, it has focused on growing its value-based healthcare model, with the acquisitions of Signify Health and Oak Street Health serving as examples. These additions enhance its primary care and home-based care solutions capabilities, in pursuit of offering more customized services, lowering healthcare costs, and staying competitive in the face of evolving industry wind conditions.

CVS Health Corporation (NYSE:CVS) has been paying dividends consistently to its shareholders since 1997. The company currently offers a quarterly dividend of $0.665 per share, and as of 27 September, the stock has a 3.51% dividend yield.

READ NEXT: 10 Cash-Rich Dividend Stocks to Buy Right Now and 10 Best Recession-Proof Dividend Stocks to Buy.

Disclosure: None.