Thursday January 4, 2024
// January 4th, 2024 // Daily News
Walgreens stock plunges after drugstore chain slashes quarterly dividend nearly in Half
KEY POINTS
- Shares of Walgreens fell after the company reported fiscal first-quarter adjusted earnings and revenue that topped expectations, but cut its quarterly dividend nearly in half.
- The retail pharmacy giant slashed its dividend to 25 cents per share from 48 cents per share to “strengthen its long-term balance sheet and cash position,” according to CEO Tim Wentworth.
- Walgreens reiterated its fiscal 2024 adjusted earnings guidance of $3.20 to $3.50 per share.
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