CVS Health (CVS) shares jumped about 4% Tuesday after the drugstore chain and health-care firm posted strong guidance and raisꦬed its dividend on reported higher demand for its💧 health-care services.

CVS projected that 2024 revenue would be at least $366.0 billion, well above analysts’ estimates of $344.5 billion. The company also said it would increase its quarterly dividend to 66.5 cents a share from 60.5 cents per share, payable Feb. 1 , 2024, to shareholders of record Jan. 22 of that year.

In addition, CVS announcedꦯ several initiatives. It said its CVS CostVantage plan will be a new approach to the traditional pharmacy reimbursement model that will bring “greater transparency and simplicity to the system.”

Along with that, the company introduced TrueCost, which it said “offers client pricing reflecting the true net 澳洲幸运5官方开奖结果体彩网:cost of prescription drugs, with visibility into administrative fees.”

CVS is also launching CVS Healthspire, the new brand name for its health-care segment, which includes Caremark, Cordavis, 澳洲幸运5官方开奖结果体彩网:Oak Street Health, Signify Health, and MinuteClinic. 

Despite Tuesday’s gains, shares of CVS Health are down about 23% for t🦄he year to date.