Walgreens BA raises dividend for 42nd year

Walgreens Boots Alliance (WBA) will increase its dividend by 6.7 percent.

The quarterly dividend will be raised to $0.40 per share, marking the 42nd consecutive year of dividend increases for Walgreens.

The increased dividend is payable 12 September 2017 to stockholders of record 18 August 2017, and raises the annual rate from $1.50 per share to $1.60 per share.

This marks the 42(nd) consecutive year that Walgreens Boots Alliance and its predecessor company, Walgreen Co., have raised the dividend.

Based on the new annual dividend of $1.60 per share and Wednesday's $77.52 closing price the new dividend yield for Walgreens Boots Alliance is 2.1%.

Walgreens is one of the Dividend Aristocrats

Walgreens stock is down 6.3% year-to-date, bringing the current market cap to $82.7 billion. Out of 25 analysts currently 18 rate WBA a 'buy', with 7 'hold' recommendations and no 'sell' ratings.

Walgreens Boots Alliance (Nasdaq: WBA) is the first global pharmacy-led, health and wellbeing enterprise. The Company's portfolio of retail and business brands includes Walgreens, Duane Reade, Boots and Alliance Healthcare, as well as global health and beauty product brands, including No7, Botanics, Liz Earle and Soap & Glory.