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CVS Caremark declares dividend of 16.25 cents

WOONSOCKET, R.I. (AP) -- Drugstore chain and pharmacy benefits management company CVS Caremark Corp. on Wednesday declared a dividend of 16.25 cents.

CVS Caremark's next dividend is payable May 3 to shareholders of record on April 23. In February, the company raised its dividend 30 percent from its previous level of 12.5 cents.

Its shares lost 8 cents to close at $44.71 Wednesday. The stock is near the upper end of its 52-week range of $31.30 to $45.39.