"Walgreens Surpasses Earnings Estimates, Cuts Dividend Significantly"
Walgreens Boots Alliance surpassed Wall Street's earnings expectations but announced a significant 48% dividend cut to 25 cents per share, marking a strategic shift under new CEO Tim Wentworth. Despite the reduction, the company maintains the dividend as a key shareholder attraction. The move aims to increase cash flow and fund growth initiatives, with more potential changes hinted at to enhance long-term shareholder value. Shares fell by about 10% following the news, even as the company reported a narrower quarterly net loss compared to the previous year.