DEERFIELD, Ill. - Walgreens Boots Alliance, Inc. (NASDAQ:WBA) announced today that its board of directors has approved the issuance of a quarterly dividend of $0.25 per share. This dividend, consistent with the previous quarter's distribution, is set to be paid on June 12, 2024, to shareholders who are on record as of May 21, 2024.
The company, with a long-standing history of providing dividends, has continued this tradition for 91 years, marking 366 consecutive quarters of dividend payments to its shareholders.
Walgreens Boots Alliance operates as a global leader in retail pharmacy, healthcare, and has a significant presence in the United States, Europe, and Latin America. With a portfolio that includes a variety of consumer brands such as Walgreens, Boots, and Duane Reade, the company maintains a focus on health and wellness services and products. WBA employs over 315,000 individuals and manages approximately 12,500 locations worldwide.
The company takes pride in its commitment to sustainability and corporate responsibility, having been recognized in the Dow Jones Sustainability Indices (DJSI) and named among the 100 Best Corporate Citizens of 2022.
The information in this announcement is based on a press release statement issued by Walgreens Boots Alliance.
InvestingPro Insights
As Walgreens Boots Alliance (NASDAQ:WBA) maintains its impressive track record of dividend consistency, the latest financial metrics from InvestingPro shed light on the company's current standing. With a market capitalization of $15.16 billion, the company is a significant player in the retail pharmacy and healthcare industry. Despite a challenging environment, WBA's revenue growth remains positive, with an 8.48% increase over the last twelve months as of Q2 2024, reaching $144.6 billion.
The dividend yield as of early 2024 stands at a notable 5.61%, which is particularly attractive to income-focused investors. This figure is complemented by a Price to Book ratio of 1.12 for the same period, indicating that the company's stock is reasonably valued in relation to its assets. However, it's important to note that the company's Price/Earnings (P/E) ratio has been negative, at -2.53, and adjusted P/E for the last twelve months as of Q2 2024 is at -18.98, reflecting earnings challenges faced by the company.
InvestingPro Tips suggest that while the dividend payout is a strong point for WBA, investors should also consider the company's long-term earnings potential and current valuation. For those looking to delve deeper into WBA's financial health and future prospects, InvestingPro offers additional insights; there are currently 17 more InvestingPro Tips available for subscribers. To enhance your investment research experience, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
With the next earnings date slated for June 27, 2024, stakeholders and potential investors will be keen to see how the company's strategies and market conditions influence its financials moving forward. The InvestingPro Fair Value estimate stands at $21.05, which is slightly below the analyst target of $22, suggesting a potential for upside based on current market assessments.
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