Walgreens (WBA) Stock Climbs on Dividend Hike

Walgreens (WBA) stock is increasing this afternoon after raising its quarterly dividend to 37.5 cents.
By Rachel Graf ,

NEW YORK (TheStreet) -- Shares of Walgreens Boots Alliance (WBA) - Get Report are climbing 0.80% to $81.87 in late-afternoon trading on Wednesday after hiking its quarterly dividend by 4.2%.

The drugstore chain boosted its dividend to 37.5 cents per share from 36 cents per share.

It will be payable on September 12 to shareholders of record as of August 19.

The new annual dividend of $1.50 implies a dividend yield of 1.83% at current levels, according to MarketWatch.

(Walgreens is held in Jim Cramer's charitable trust Action Alerts PLUS. See all of his holding with a free trialhere.)

Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of A-.

Walgreens' strengths such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations outweigh the fact that the company has had lackluster performance in the stock itself.

You can view the full analysis from the report here: WBA

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author. 

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