Walgreens raises quarterly dividend 4.2%

Walgreens Boots Alliance Inc. said Wednesday it raised its quarterly dividend 4.2% to 37.5 cents a share from 36 cents a share. The drugstore chain's new dividend will be effective Sept. 12 to shareholders of record on Aug. 19. The stock gained 0.8% in afternoon trade. At current prices, the new annual dividend of $1.50 implies a dividend yield of 1.83%, compared with the implied aggregate dividend yield for the S&P 500 of 2.12%, according to FactSet. Walgreens' stock has slipped 3.9% year to date, while the S&P 500 has tacked on 5.1%.

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