Reported about 10 hours ago
Walgreens Boots Alliance has announced the suspension of its quarterly cash dividend as part of its restructuring efforts, resulting in nearly an 8% drop in its shares during extended trading. The decision was influenced by the company's cash needs for litigation and debt refinancing, with analysts deeming it a necessary step to reboot the business amidst ongoing legal issues and low drug reimbursement rates. CEO Tim Wentworth is implementing cost-cutting measures and exploring options for non-core businesses in hopes of regaining investor trust.
Source: YAHOO