CVS Caremark (NYSE:CVS) has chosen to stick to its existing dividend policy. The company has declared a quarterly common stock dividend of $0.225 per share, to be paid on Nov. 1 to stockholders of record as of Oct. 21. That amount is in line with the distribution paid in each of the preceding three quarters of this year. Before that, CVS Caremark dispensed $0.1625 per share.

Since February 2009, the company has raised its dividend after every four quarters. From that time, its disbursement has ranged from $0.07625 per share to the present level.

The just-declared dividend annualizes to $0.90 per share. That yields 1.6% at CVS Caremark's most recent closing stock price of $57.78.

Fool contributor Eric Volkman has no position in CVS Caremark. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.