Walgreens Boots: drastic cut in quarterly dividend
"We are evaluating all strategic options to generate long-term sustainable value for shareholders, with a focus on rapid action to adjust costs and increase cash flow", says CEO Tim Wentworth.
Over the first three months of its financial year, the drugstore chain saw its adjusted EPS fall by 43% to $0.66, despite sales growth of 10% to 36.7 billion, including an 8.7% increase at constant exchange rates.
Explaining this drop in profits by difficult trends in the U.S. retail market and a higher tax rate, Walgreens nevertheless maintains its full-year adjusted EPS forecast of $3.20 to $3.50.
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