Same! Dividend always makes a bottom!
Where else is one going to get 9% with a company of Walgreen's caliber?
I agree, But the share price here was essentially destroyed by here predecessor, Stefano Pessina. the Boots Alliance merger was and continues to be a total disaster.
"What’s behind Walgreens CEO Roz Brewer’s abrupt departure?
" Abrupt exit. The supposedly sleepy Labor Day weekend began with a bang on Friday morning, when Walgreens abruptly announced that CEO Roz Brewer had stepped down and left its board, effective the day before (Aug 31).
The decision was “mutually agreed” upon by Brewer and Walgreens’s board, the company said. Brewer, who had been in the job for less than three years, used the same language in a LinkedIn post and an internal email to Walgreens employees seen by Fortune.
“This is perhaps one of the most difficult notes I have ever written over the course of my career,” Brewer wrote in both notes. Spokespeople for her and for Walgreens declined to comment further to Fortune on Friday."
"Brewer’s departure means that the most powerful Black woman running a Fortune 500 company—and one of only two Black female CEOs in the Fortune 500 at the start of last week—is out of a job, at least temporarily. (She will advise Walgreens on its search for a permanent CEO, the company said; Walgreens is paying her $9 million in severance, plus $2.25 million in consulting fees for the next six months, according to a securities filing Friday.)
"Her departure also raises questions about Walgreens’s ability to pull off the ambitious pivot towards health care that Brewer had announced six months after becoming Walgreens CEO. Like larger rival CVS, Walgreens under Brewer has been buying up primary-care clinics and trying to turn itself into a full-service health care provider. But a transformation of that magnitude takes time, and it appears to be going more slowly than both Walgreens and its investors would like: In June, the company cut its full-year earnings guidance, while executives acknowledged that they were “disappointed with the pace of our path to profitability” in its health care business.
It's also unclear how much support Brewer’s health care strategy had from Walgreens executive chairman (and former CEO and largest shareholder) Stefano Pessina. The Wall Street Journal in January reported that Pessina envisioned a slower expansion into health care, one that was “best achieved through partnerships and minority stakes," and that he said that "buying up companies outside of the core pharmacy industry unnecessarily exposed Walgreens to risk.” Spokespeople for Walgreens and Brewer did not respond to requests for comment over the weekend."
They stopped being admired when the linked up with Liz Holmes and Theranos, a clue that WBA was getting desperate.
CEO Roz Brewer out ("stepped down") effective immediately. Train wreck here with WBA right now. Everything changed the day WAG closed the merger with Stefano Pessina and the European Boots Alliance. Walgreens (WAG) was one of the most admired and successful companies in America and the merger was a mistake.
Like I said back in May.
"I sure don't see a buy argument with WBA. I'd never buy a stock just for an above-market dividend.
Timber.... How low will it go?? WBA can't seem to get out of it's own way thses gast few quarters.
The earnings release should be interesting tomorrow am. Consensus estimate is for net profit of $1.07 per share.
Another good thing about WBA is It has a low beta of 0.73, so it has low movement correlation with the broad stock market.
Considering how well the stock market has done over the past 11 years that's quite an indictment of WBA and drugstores in general. It's not like the ubiquitous Walgreens are unknown. I'd also worry about the real estate value of the bazillion pricey corner retail locations WBA (and CVS) acquired. I don't hate WBA stock; I just think the stock is nothing special.
I wasn't going by the dividend I was going by this:
Thanks, I know about the arbitration award. I worry especially about WBA's ever-diminishing dividend increases. Last year WBA only increased the payout from $0.478 to 0.48. Based on their history we should be due for another increase soon. Will there even be an increase?
" Date Dividends
May 18, 2023 0.48 Dividend
Feb 15, 2023 0.48 Dividend
Nov 14, 2022 0.48 Dividend
Aug 18, 2022 0.48 Dividend
May 19, 2022 0.478 Dividend
Feb 17, 2022 0.478 Dividend
Nov 12, 2021 0.478 Dividend
Aug 19, 2021 0.478 Dividend
May 20, 2021 0.468 Dividend
Feb 18, 2021 0.468 Dividend
Nov 18, 2020 0.468 Dividend
Aug 18, 2020 0.468 Dividend
May 19, 2020 0.458 Dividend
Feb 18, 2020 0.458 Dividend
Nov 15, 2019 0.458 Dividend
Aug 19, 2019 0.458 Dividend
May 17, 2019 0.44 Dividend
Feb 14, 2019 0.44 Dividend
Nov 08, 2018 0.44 Dividend
Aug 17, 2018 0.44 Dividend
The recent drop in WBA's share price is due to the staggering $642 Million Arbitration award to Humana. On Friday Walgreens filed a Motion in federal court to have the award vacated, calling the pricing dispute with Humana Health Plans and the resulting arbitration award a "miscarriage of justice." The basis of WBA's request to vacate the award is its position that the Arbitrator "rewrote" its contracts with Humana, and that he used a flawed model to assess and award damages. Arbitration is always subject to challenge in federal court, and Arbitrators are strictly prohibited from going beyond the bounds and precise language of the contract(s) at issue. But this was the reason for the drop in share price the past few days. WBA +2.04% today
The dividend yield is the positive here of late.
Nice move up on earnings beat and strong quarterly report.
The dividend yield has always been a huge positive here with WBA.
Nice meaty post. Agree it's odd for three board members to have zero shares. I wouldn't want to be on the board of ANYTHING with the potential legal liability that involves.
Nice to see a powerful market today. All of my stocks except one are up.
Yes. Positive development. Funny how WBA's beat the street estimates, but the shares sold down. hard to understand. The obligatory 5-year stock performance graph in the Annual report cover was sobering. The annual report is a total joke. No financial discussion or message to shareholders, or any mention of money returned to shareholders in the form of dividends and buybacks, etc. Thes reports used to be so great and filled with positive developments. Also, very disappointed to see in the Proxy statement that we will now have 3 Directors with no vested interest in the WBA, i.e. No stock ownership. One has been on the Board since 2020 and still has no stock ownership. We pay these Directors handsomely, i.e. over $300,000 per year, and the 3 with no stock will eventually get their pockets lined with shares. But there are many qualified long-time loyal shareholders who would be more suited and just as qualified to sit on the Board.
Good news for a change: "Walgreens Revisits Shoplifting Security as Losses From Theft Drop"
"The nation’s second-largest U.S. pharmacy chain by locations poured money last year into additional security, some of which executives said was ineffective, and it is now considering cutting back as losses from theft have dropped significantly, finance chief James Kehoe said Thursday."
Holding WBA but not adding or reinvesting the divs.
Just continuing to reinvest all of my 4.97% WBA dividends in more WBA shares down at these depressed levels under $40.
Few major group have performed as well as stodgy dividend payers lately. Been watching Caterpillar, for example, but plenty of others like it are doing great. The ultra conservative DOW ETF (DIA) is up 19% since October 1, and it yields about 1.9% in ever-rising dividends.
Problem for many IHUBer is they panicked a few month ago and dumped everything, mostly around the bottom Many IHUB penny players went 100% to cash.
BTW, I've been adding short term T-bills for several months and getting over 4 1/2 % and 2-4 year maturity Invesco Bulletshares and getting nearly 6% yield to maturity. Very safe.
Has been a strong month here for WBA. Nice upgrade yesterday
"CVS Has Little Time to Waste as Amazon, Walgreens Ink Doctor Deals" WSJ - Heard on the Street
Two delightful days. I was just looking over my family holdings for tax loss harvesting, but not finding much to trim. .
Walgreens upgraded to Buy from hold at Deutsche Bank. $50 Price Target now.
Market likes Walgreens' Village MD unit's $8.9 Billion deal to acquire Summit Health. WBA +3.8% today.
Yes, stellar report!
Strong earnings report out from WBA today. And they upped the forward guidance. With WBA's share price +6.26% today the dividend yield is down to 6.01%, which is still great.
Yes, hearing loss is tied to aging.
The old rule of thumb was everyone gets 150 years of hearing. Go to a loud rock concert, subtract a year. Fire a gun without ear protection, take off another year.
Factory work, leaf blowers, high speed driving with the window down, nagging wife... all chip away at it!
Well, I added the wife part, but the rest is true!
Anyone who thinks hearing aids are like glasses i.e. they give you normal hearing is sadly mistaken!
Protect your hearing... once it is gone, it's gone!
I have perfect hearing, but know many people with hearing aids.
Similarly, they can surely link hearing loss to "falling" for transparent stock scams. Personally I think most hearing loss is caused by years of birthday cake consumption.
Post hoc ergo propter hoc