Walgreen Company (NYSE:WAG) shares surged by 3%

600

Dallas, Texas 07/11/2013 (Financialstrend) – Walgreen Company (NYSE:WAG) declared a quarterly dividend of $1.26 annualized, or $0.315 per share. This is an increase of 14.5 percent from the previous dividend of $0.275. The dividend will be payable on September 12, 2013, with an ex-dividend date of August 16, 2013, to stockholders of record on August 20, 2013. The annual yield on the dividend is 2.6 percent. Walgreens has paid a dividend for more than 80 years in 323 consecutive quarters and has raised its dividend for 38 consecutive years. In the last five years, WAG’s annual dividend was increased to $1.26 per share at a growth rate of 45% per share, resulting in a compound annual growth rate of approximately 23%. The company has had global ambitions since last year, when it acquired a 45% stake in a European retail pharmacy giant Alliance Boots for $6.7 billion. The companies together are setting their sights on the pharmacy market in China in the next couple of years. Finally, the company in September 2012 bought a 12% stake in Nanjing Pharmaceuticals. Walgreen’s stake in Alliance Boots can deliver synergies from $125 to $150 million.

Walgreen Company’s (NYSE:WAG) share price rose by 3.015 on Wednesday and closed at $47.85 per share for the day. Intraday prices for the stock touched a low of $46.06 and a high of $48.24 per share. Trading volume stood at 16.53 million shares on Wednesday, with an average one of 6.46 million per day of trading.

Walgreen Company (NYSE:WAG) currently has a 52-week low price of $29.68 and a 52-week high price of $51.25 per share. The market cap is $45.22 billion with 945 million shares outstanding and 63% of institutional ownership.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.