Walgreens Boots Alliance Stock Just Slashed Its Dividend. Time to Buy?
The Walgreens Boots Alliance (NASDAQ: WBA) just made a historic move. After 47 consecutive years of dividend increases, the company slashed its payout. The drugstore chain has suffered from flattening sales, an expensive legal settlement over opioid claims, and struggling medical clinics.
Still, the dividend cut was a dramatic move when the company was three years short of Dividend King status. The question for investors is whether the drop in the stock makes Walgreens a buy, or if this retail stock will bring further illness to investor portfolios.
Admittedly, many investors are probably not surprised the company made this decision. The drugstore business has become increasingly competitive as more customers turn to retailers like , Costco Wholesale, and, more recently, Amazon to fill prescriptions.
Source Fool.com
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