This Former Dividend Aristocrat Just Suspended Its Dividend. Time to Buy?
Briefly

Walgreens Boots Alliance, once a reliable Dividend Aristocrat, has drastically cut its dividend by 48% then suspended it altogether as part of a cost-cutting strategy to improve its balance sheet and free cash flow. The company has been on a trajectory of decline for several years, reporting a staggering total return of negative 84% from its peak. With the new CEO prioritizing financial restructuring, Walgreens has begun focusing on reducing debt amid a challenging operating environment. The stock's drop of over 10% in response to the news marks significant concern among investors about its future viability.
Walgreens Boots Alliance faced a challenging financial landscape, forcing the company to suspend its dividend after a history of 48 consecutive years of increases.
Despite its legacy of dividend payouts, the retail pharmacy's performance has drastically declined, necessitating a shift in strategy to conserve cash and address mounting debts.
Read at 24/7 Wall St.
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