CVS Health anticipates earnings growth in 2015

Woonsocket, R.I.-based CVS Health expects to see earnings growth next year and expects to raise its quarterly shareholder payout by nearly 30 percent, according to an Associated Press report.

Specifically, CVS Health anticipates it will see adjusted earnings per share growth of more than 12 percent next year, despite the fact its stores have stopped selling tobacco products — a move that will negatively impact the company's bottom line, according to the report.

Based on CVS Health projections, adjusted earnings should range between $5.05 and $5.19 per share next year, according to the report.

Additionally, CVS Health board members have given the go-ahead for "a new stock buyback program for up to $10 billion that is expected to be completed over several years," the report reads.

CVS Health has 7,800 retail pharmacy locations and more than 900 walk-in medical clinics.

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