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 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.

While we acknowledge the potential of CVS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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