Walgreens Declares Dividend For 306th Consecutive Quarter

Walgreens (WAG: 34.21 +3.26%) announced today that their board of directors has approved a quarterly dividend of $.1125 per share.

 

This marks the 306^th consecutive quarter that Walgreens has paid out a dividend and over the last five years the dividend payment has increased at annual compound rate of over 20%.

 

The current dividend yield now stands at 1.6%.

 

Wall Street reacted positively to the news, sending Walgreen’s shares up 3.3% to $28.64 in mid-morning trading. Since the beginning of the year, the nation’s largest drugstore chain has seen their stock climb 16% while the Dow Jones index has dropped 9%.

 

The dividend will be payable on June 12, 2009 to shareholders of record as of May 21, 2009.

 

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