Walgreens posts earnings beat but slashes quarte
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Posted On: 01/04/2024 7:48:39 AM
Walgreens posts earnings beat but slashes quarterly dividend nearly in half
PUBLISHED THU, JAN 4 20247:00 AM ESTUPDATED 4 MIN AGO
Walgreens reported fiscal first-quarter adjusted earnings and revenue that topped expectations, but cut its quarterly dividend nearly in half.
The retail pharmacy giant slashed its dividend to 25 cents per share from 48 cents per share to “strengthen its long-term balance sheet and cash position,” according to CEO Tim Wentworth.
Walgreens reiterated its fiscal 2024 adjusted earnings guidance of $3.20 to $3.50 per share.
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