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Why Jim Cramer Would Buy GlaxoSmithKline

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GlaxoSmithKline  (GSK) - Get Free Report announced that it would spin off its consumer division and slash its dividend.

The company unveiled the moves at an investor update on Wednesday.

“The separation of Consumer Healthcare is expected in mid-2022,” the company said.

As for the dividend, GSK projects it will total 80 pence ($1.12) this year and then slide to 55 pence (77 cents) next year, TheStreet's Dan Weil wrote.

“New GSK will adopt a progressive dividend policy targeting a dividend payout ratio equivalent to 40% to 60%, starting at 45 pence per share in 2023, the company’s first full year of operation.”

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