Financial News

WOONSOCKET, R.I. — Marking its eighth consecutive year of dividend increases, CVS Caremark on Tuesday said its board of directors approved a near 43% increase of its quarterly dividend to 12.5 cents per share of common stock.

The dividend is payable Feb. 2 to holders of record on Jan. 21.

At its Analyst Day in October 2010, the company announced that it set a targeted dividend payout ratio of approximately 25% to 30% by 2015, which implied a compounded dividend growth rate of nearly 25% per year.

HOFFMAN ESTATES, Ill. — A 2.3% same-store sales gain at Kmart was not enough to offset a 6% decline at Sears, resulting in an overall 1.7% decline for the combined companies' domestic operations during the five-week December reporting period ended Jan. 1.

SCHENECTADY, N.Y. — Supermarket chain Price Chopper will buy out an independent pharmacy in Malta, N.Y., according to media reports.

News media in upstate New York reported that Price Chopper would buy Apple Community Pharmacy and hire all of its 15 employees.

The supermarket chain will operate its pharmacy at the same location as Apple and offer the same programs and services it offers at its own stores, pending completion of the pharmacy at its store in Malta.

MINNEAPOLIS — There were three takeaways to come out of Supervalu’s third-quarter analyst call Tuesday morning: The deep discount banner Save-A-Lot will be the most significant catalyst for growth going forward; Supervalu aggressively is addressing pricing issues that have had consumers who are more accustomed to the “hi” in the grocer’s "hi-lo" pricing strategy shopping elsewhere; and while traditional Supervalu banners Acme, Shaw’s and even Jewel-Osco do not have a “For Sale” sign on their respective front lawns, at least

EL PASO, Texas — Helen of Troy, a marketer and developer of brand-name personal care and household consumer products, posted a boost in third-quarter net sales and net income as its personal care segment benefited from the acquisition of Pert Plus and Sure brands.

Third-quarter net sales for the period ended Nov. 30 totaled $205 million, up 8.2% compared with revenues of $189.4 million in the year-ago period. Net income totaled $27.1 million, or 86 cents per diluted share, compared with $24.7 million, or 80 cents per share, in the year-ago period.

CAMBRIDGE, Mass. — It appears that French drug maker Sanofi-Aventis’ efforts to acquire U.S. biotech company Genzyme are getting somewhere, according to company and media reports.

BALTIMORE — Ilex Consumer Products Group on Thursday acquired the St. Joseph brand from McNeil-PPC, the company announced.

Ilex’s current brand portfolio includes Calgon and the Healing Garden.

DOWNERS GROVE, Ill. — One week after announcing that it would sell off its shoe care business to SC Johnson, Sara Lee is moving ahead with plans to split its business into two units.

According to published reports, Sara Lee will divide its meat and coffee businesses into two separate companies. In addition to its recent transaction with SC Johnson, Sara Lee has been streamlining its business by selling off its beauty and laundry detergent portfolios to Unilever for $1.6 billion. The deal closed last month.