Dividend Aristocrat Walgreens raises dividend by 2.2 percent
The company also announced that it will suspend its share repurchases.
Walgreens hiked its dividend by 4.0 percent last year and this is the smallest dividend increase in years for the pharmacy-led health and wellbeing company.
On July 8, 2020 the company's board of directors declared a quarterly dividend of 46.75 cents per share, an increase of 2.2 percent.
The increased dividend is payable September 11, 2020 to stockholders of record as of August 19, 2020, and raises the annual rate from $1.83 per share to $1.87 per share. This marks the 45th consecutive year that WBA and its predecessor company, Walgreen Co., have raised the dividend, and the 87th year a dividend has been paid.
The new dividend yield for Walgreens is 4.8% based on Thurday's closing price of $39.01 per share. Last year the Dividend Aristocrat hiked its dividend by 4.0 percent. The 2020 dividend increase is the smallest in at least the last decade for Walgreens, with the last double digit dividend hike dating back to 2018. The company currently pays $1.64 billion in dividends to shareholders every year.
Year-to-date Walgreens Boots Alliance stock price is down 33.84 percent. Less than five years ago investors paid almost $100 per share compared to $39 today.
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.
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