Elevance Health Inc. (ELV) is a major health benefits organization serving approximately 118 million people across medical, pharmaceutical, behavioral health, and digital care solutions. Founded in 1944 and formerly known as Anthem, the company adopted its current name in June 2022. Based in Indianapolis, Indiana, ELV operates with a beta of 0.696, indicating below-market price volatility that appeals to investors seeking stability. The company pays an annual dividend of $6.86 per share ($1.72 quarterly), resulting in a current yield of 1.68% at a stock price of $407.50. The next ex-dividend date is scheduled for September 10, 2026. Over the past 15 years, ELV has demonstrated a compound annual dividend growth rate (CAGR) of 14.7%, with 13 consecutive years of increases, highlighting a strong history of rewarding shareholders despite a modest starting yield. Financially, Elevance Health maintains a conservative payout ratio of 30.4% of earnings, which provides substantial room to sustain and grow the dividend even if earnings face pressure. While the current yield is below 2%, it sits slightly above the company's 5-year average of 1.42%. The primary risk identified for dividend safety involves regulatory and reimbursement changes in the healthcare industry that could compress margins without warning. ELV is positioned as a growth-and-income investment rather than a high-yield alternative, offering a rising dividend stream from a large-scale business with broad demand. The low payout ratio ensures the dividend is well-covered by earnings, leaving no meaningful pressure on the current payout level while providing portfolio diversification alongside income generation.