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CVS increases quarterly dividend by nearly 43%
WOONSOCKET, R.I. — Marking its eighth consecutive year of dividend increases, CVS Caremark on Tuesday said its board of directors approved a near 43% increase of its quarterly dividend to 12.5 cents per share of common stock.
The dividend is payable Feb. 2 to holders of record on Jan. 21.
At its Analyst Day in October of last year, the company announced that it set a targeted dividend payout ratio of approximately 25% to 30% by 2015, which implied a compounded dividend growth rate of nearly 25% per year.
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Supervalu looks to Save-A-Lot banner for growth
MINNEAPOLIS — There were three takeaways to come out of Supervalu’s third-quarter analyst call Tuesday morning: the deep discount banner Save-A-Lot will be the most significant catalyst for growth going forward; Supervalu aggressively is addressing pricing issues that have had consumers who are more accustomed to the “hi” in the grocer’s "hi-lo" pricing strategy shopping elsewhere; and while traditional Supervalu banners ACME, Shaw’s and even Jewel-Osco do not have a “For Sale” sign on their respective front lawns, a