Walgreens Boots Alliance Shares Slide As Board Suspends Dividend

Walgreens Boots Alliance Inc (NASDAQ:WBA) shares are falling in extended trading Thursday after the company suspended its quarterly dividend.

What Happened: After the market close on Thursday, Walgreens announced its board is suspending its cash dividend as management continues to evaluate its capital allocation policy as part of a longer-term turnaround strategy.

The suspended dividend is expected to help strengthen the company’s balance sheet by reducing debt over time and improving free cash flow.

“The company’s cash needs over the next several years, including with respect to litigation and debt refinancing, were important considerations as part of the decision to suspend the dividend,” the company said.

“WBA leadership remains ...

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