Walgreen Boots Alliance Rewards Shareholders with 2.1% Dividend Hike

Walgreens Boots Alliance, Inc. (WBA), an American pharmaceuticals holding company, has announced a quarterly dividend of 47.75 cents per share, a hike of 2.1% from its previous dividend of 46.75 cents. The dividend will be paid on September 10, 2021 to shareholders of record as of August 20, 2021.

Following the news, shares of the company declined marginally to close at $46.79 in Wednesday’s trading session. Based on Wednesday’s closing price, the annual dividend yield now stands at 4.1%.

The company has been consistently raising dividends over the past several decades, and paid dividends for 355 straight quarters. (See Walgreens Boots stock chart on TipRanks)

Recently, Jefferies analyst Brian Tanquilut reiterated a Hold rating on the stock with a price target of $53. The analyst’s price target implies upside potential of 13.1% from current levels.

Consensus among analysts is a Hold based on 1 Buy and 10 Holds. The average Walgreens Boots price target stands at $55, which implies upside potential of 17.3% from current levels.

Walgreens Boots Alliance scores a “Perfect 10” on TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations.

Shares have gained about 15.2% over the past year.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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