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CVS Caremark Corporation Increases Quarterly Dividend 10.5%

WOONSOCKET, R.I.--(BUSINESS WIRE)--Jan. 13, 2009--CVS Caremark Corporation (NYSE: CVS) today announced that its Board of Directors has approved an increase in its quarterly dividend of 10.5%, to 7.625 cents per share on the Common Stock of the Corporation, payable February 3, 2009 to holders of record on January 23, 2009. This increase translates into an annual rate of 30.5 cents per share, up 2.9 cents from the previous rate of 27.6 cents.

"This marks the sixth consecutive year of dividend increases for our company," stated Dave Rickard, Executive Vice President, Chief Financial Officer and Chief Administrative Officer. "This 10.5% increase is a result of our continued strong financial performance and significant cash generation."

About CVS Caremark

CVS Caremark is the largest provider of prescriptions in the nation. The Company fills or manages more than 1 billion prescriptions annually. Through its unmatched breadth of service offerings, CVS Caremark is transforming the delivery of health care services in the U.S. The Company is uniquely positioned to effectively manage costs and improve health care outcomes through its more than 6,800 CVS/pharmacy and Longs Drugs stores; its Caremark Pharmacy Services division (pharmacy benefit management, mail order and specialty pharmacy); its retail-based health clinic subsidiary, MinuteClinic; and its online pharmacy, General information about CVS Caremark is available through the Investor Relations section of the Company's Web site, at, as well as through the Newsroom section of the Company's Web site, at

    CONTACT: CVS Caremark Corporation
             Investor Contact:
             Nancy Christal, 914-722-4704
             Senior Vice President
             Investor Relations
             Media Contact:
             Eileen Howard Dunn, 401-770-4561
             Senior Vice President
             Corporate Communications & Community Relations

    Source: CVS Caremark Corporation

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