Walgreens Is Cutting Its Big-Time Dividend. Time to Buy the Beaten-Down Dow Stock?
WBAWalgreens Boots Alliance(WBA) The Motley Fool·2024-01-05 18:33

Walgreens Boots Alliance (WBA -5.12%) got the bad news out early in 2024. The pharmacy company is cutting its dividend by nearly 50%. That ended a streak of 47 years of dividend growth. That reduction will enable Walgreens to retain more cash to fund its growth and strengthen its balance sheet. Here's a look at whether now's the time to buy the beaten-down member of the Dow Jones Industrial Average, which lost 30% of its value last year compared to the iconic index's nearly 14% rise. The end of an era Walgr ...