Earlier on Friday, Walgreens 'stocks said that the pharmacy chain stated that it was suspending its dividend, destroying the continuous record of shareholders' expenses in the quarter, and extending the history of more than 90 years.

This pharmacy chain said after the market ended on Thursday that as the company's leaders tried to reverse the business of trapped, it adopted a move to strengthen the balance sheet and improve the free cash flow.

Walgreens (Walgreens) has been dealing with thin prescription reimbursement, rising costs, continuous theft and inflation -sensitive shoppers, they are looking for cheap goods elsewhere. The company is in an early stage of a plan, that is, closes to about 1,200 of about 8,500 US locations.

The company stated in a short statement on Thursday that cash demand for litigation and debt recycling in the next few years is an important part of the decision to suspend dividends.

Earlier this month, the US Department of Justice filed a lawsuit in the federal court, accusing the pharmacy chain of the pharmacy chain without legal purpose, including millions of prescriptions, including some dangerous opioid drugs.

The company said in September that it will pay $ 106 million to resolve separate lawsuits for false payment claims.

Walgreens began to reduce the quarterly dividend to half last year. After the company spent about $ 1.7 billion in cash dividends on fiscal 2023, it reduced the expenditure from 48 cents by 25 cents.

Chief Financial Officer Manmohan Mahajan told analysts earlier this month that Walgreens is still evaluating "as part of our capital distribution policy, the appropriateness and scale of our dividends."

Leerink Partners analyst Michael Cherny said in a research report on Thursday that he suspended "cautious and expired." He added that division has been "trapped in trouble," and its yield and the required cash.

Last year, in the 500 years, there were only two dividend suspension last year, including a dividend of chip manufacturer Intel. Usually there are only a few every year.

HOWARD SILVERBLATT, a senior index analyst at S & P Dow Jones Indices, said that the dividend suspension is "being issuing a signal to the world. This is my problem. This is cash flow. This is not a short -term."

However, he added that the market often considers dividends as a positive signal because the company recognizes that it has problems and is taking measures to correct it.

The company said that since 1933, it has paid cash dividends every quarter every quarter, which is a consecutive victory for 90 years or nearly 370 quarters.

Stocks headquartered in Walgreens Boots Alliance Inc., Dilfield, Illinois, fell more than 11 % to $ 10.16.