Walgreens Boots: slashes quarterly dividend

(CercleFinance.com) - On announcing its Q1 2023-24 results, Walgreens Boots Alliance almost halved (-48%) its quarterly dividend per share, to $0.
25.

Mangement says that it is evaluating all strategic options to generate long-term sustainable value for shareholders, with a focus on rapid action to adjust costs and increase cash flow.

Over Q1, the drugstore chain's adjusted EPS fell 43% to $0.66, despite sales that rose 10% to $36.7bn, including an 8.7% increase at constant exchange rates.

Explaining this drop in profits by difficult trends in the US retail market and a higher tax rate, Walgreens nevertheless maintains its full-year adjusted EPS forecast range of $3.20 to $3.50.


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