CVS HEALTH CORPORATION - CVS STOCK NEWS

CVS Health (NYSE: CVS) has declared a quarterly dividend of $0.665 per share on its Common Stock. The dividend will be paid on November 1, 2024, to shareholders of record as of October 21, 2024. This announcement demonstrates CVS Health's commitment to returning value to its shareholders through consistent dividend payments. The quarterly dividend rate remains unchanged from previous distributions, indicating stability in the company's dividend policy. This news is particularly relevant for income-focused investors and those monitoring CVS Health's financial health and shareholder returns.

CVS Health (NYSE: CVS) has announced that CVS Pharmacy locations in Massachusetts are now offering hormonal contraceptive prescribing services. This initiative aims to address the issue of contraceptive deserts and improve access to birth control. Patients aged 18 and older can visit any Massachusetts CVS Pharmacy for a consultation, which includes a health screening and blood pressure check. If eligible, pharmacists can prescribe various types of hormonal contraception.

The service costs $39 for the consultation, regardless of whether medication is prescribed. This new offering is part of a broader effort to increase access to reproductive health care and follows similar services already available in several other states. The move is supported by Massachusetts legislators and is seen as a step towards addressing disparities in contraceptive access.

CVS Health (NYSE: CVS) is preparing for Tropical Storm Francine, expected to hit Louisiana as a hurricane. The company is taking proactive measures to ensure the safety and health of customers, members, and employees. Key actions include:

1. Reminding patients to refill prescriptions
2. Stocking stores with emergency supplies
3. Enabling emergency prescription refills
4. Arranging alternate delivery for specialty medications
5. Expanding clinical response team engagement
6. Offering mental health support services
7. Contacting at-risk employees

CVS Pharmacy stores will follow local evacuation orders and reopen when safe. The company advises customers to follow evacuation orders, carry current medications, and keep written records of prescriptions.

CVS Health (NYSE: CVS) has announced the availability of updated 2024-2025 COVID-19 and flu vaccines at CVS Pharmacy and MinuteClinic locations nationwide. Walk-ins are accepted, and a simplified digital scheduler allows for easy appointment booking. The CDC recommends these vaccines for patients six months and older, ideally in September or October.

Key points:

• Multiple vaccinations can be administered in one visit
• Up to four patients can be scheduled together
• Appointments available seven days a week, including evenings and weekends
• MinuteClinic offers sick symptom visits with testing for flu, COVID-19, and strep throat
• CVS offers more than 15 common vaccinations
• Patients receive a $5 off $20 coupon for in-store purchases with any CDC-recommended vaccine
• ExtraCare members get $2 in ExtraBucks Rewards for each CDC-recommended vaccine

Aetna, a CVS Health Company (NYSE: CVS), has announced a significant expansion of fertility services coverage. Starting September 1, 2024, Aetna will offer intrauterine insemination (IUI) as a medical benefit for eligible plans, making it the first major insurer to update this coverage policy nationally. This landmark change aims to increase access to family-building options, regardless of sexual orientation or partner status.

The new policy removes the requirement for separate infertility benefit coverage and an infertility diagnosis, making IUI more accessible to a broader range of individuals, including LGBTQ+ and unpartnered people. This move aligns with Aetna's commitment to women's health and equity across all communities. The coverage will be implemented on a rolling basis for most plans upon renewal, with self-funded plan sponsors retaining the option to modify their coverage.

CVS Pharmacy® has launched a new collection of journals featuring cover designs inspired by the mental health and wellness journeys of four CVS Health colleagues. The journals are part of the Caliber® Fashion Artist Series, available in over 6,700 CVS Pharmacy stores and on CVS.com. The project began with a company-wide call for art, resulting in more than 75 submissions. The four selected designs showcase original artwork celebrating personal and emotional growth.

Each hardcover journal, priced at $8.99, includes the artist's statement on the inside cover. The initiative aims to raise awareness of the impact of art and journaling on daily life, particularly appealing to Millennial and Gen Z consumers. The journals are available in spiral-bound or saddle-stitched binding, offering versatility and style for customers seeking tools for wellness and personal growth.

CVS Health (NYSE: CVS) has appointed Heidi Capozzi as the new Executive Vice President and Chief People Officer, effective September 9. Capozzi will lead human resources, labor relations, compensation and benefits, and corporate social responsibility teams. She brings extensive experience from her previous roles at McDonald's and Boeing, where she served in senior HR positions.

CVS Health CEO Karen S. Lynch praised Capozzi's proven track record in building strong teams and advancing winning cultures. Capozzi expressed excitement about joining CVS Health and contributing to its mission of redefining healthcare delivery. She succeeds Laurie Havanec, who is leaving the company after playing a significant leadership role in recent years.

The CVS Health Foundation has announced $525,000 in new Health Zones funding to support the Central California Food Bank's (CCFB) City Center Collaborative in Fresno. This initiative aims to improve health outcomes by enhancing access to healthy food and comprehensive support services. The funding will be distributed among several organizations, including CCFB's First Fruits Market, Family Healthcare Network, Fresno Mission, Central La Familia Advocacy Services, CASA, and Social Vocational Services.

The announcement was made during a Project Health event at City Center, where CVS Health offered free health screenings. In 2023, CVS Health hosted 170 Project Health events in California, screening 6,977 participants. The Health Zones initiative in Fresno focuses on addressing food insecurity, with 1 in 4 people and 1 in 3 children facing hunger in the area.

AM Best has revised the outlook to stable from positive for the Long-Term Issuer Credit Rating (Long-Term ICR) of Aetna Life Insurance Company and other Aetna Inc. subsidiaries, wholly owned by CVS Health (NYSE: CVS). The Financial Strength Rating (FSR) of A (Excellent) was affirmed. The revision reflects unfavorable operating trends in the first half of 2024, driven by:

• Increased utilization in Medicare Advantage
• Higher acuity in Medicaid due to redeterminations
• Changes in individual exchange business risk adjustment accrual

These factors led CVS Health to lower its full-year 2024 profit outlook. Despite expected near-term profitability, earnings are projected to improve in 2025 due to corrective actions. The ratings consider Aetna's very strong balance sheet, strong performance, favorable business profile, and appropriate risk management.