Reported 1 day ago
Walgreens has announced the suspension of its quarterly dividend payments, ending a 92-year streak, as part of its long-term turnaround initiatives. The company is focusing on improving its balance sheet, tackling debt, and generating free cash flow. This decision comes in the wake of legal challenges, including a lawsuit from the Department of Justice regarding the dispensing of controlled substances, and follows the company's strategy to optimize its retail pharmacy business while closing numerous stores and laying off employees.
Source: YAHOO