Walgreens Increases Quarterly Dividend 27.3 Percent

Published on Wednesday, 14 July 2010 12:28 Written by TradersHuddle Staff

DEERFIELD, Ill.-( Business Wire )-

The board of directors of Walgreen Co. (NYSE: WAG)(NASDAQ: WAG) today increased the quarterly dividend 27.3 percent to 17.5 cents per share from the previous rate of 13.75 cents per share. The dividend is payable Sept. 11, 2010, to shareholders of record Aug. 19, 2010. The dividend increase raises the annual rate from 55 cents per share to 70 cents per share.

"This increase reinforces our commitment to provide meaningful returns to our shareholders and extends our track record of strong annual dividend growth,” said Walgreens President and CEO Greg Wasson. “We are confident in our growth strategies and our ability to generate strong free cash flow in the future."

Walgreens has paid a dividend in 311 straight quarters (more than 77 years) and has raised its dividend for 35 consecutive years. The company has increased its dividend by a compound annual growth rate of 24.3 percent over the last six years.

Walgreens (www.walgreens.com) is the nation's largest drugstore chain with fiscal 2009 sales of $63 billion. The company operates 7,541 drugstores in all 50 states, the District of Columbia and Puerto Rico. Each day, Walgreens provides nearly 6 million customers the most convenient, multichannel access to consumer goods and services and trusted, cost-effective pharmacy, health and wellness services and advice in communities across America. Walgreens scope of pharmacy services includes retail, specialty, infusion, medical facility, long-term care and mail service, along with pharmacy benefit solutions and respiratory services. These services improve health outcomes and lower costs for payers including employers, managed care organizations, health systems, pharmacy benefit managers and the public sector. Walgreens Take Care Health Systems subsidiary is the largest and most comprehensive manager of worksite health centers and in-store convenient care clinics, with more than 700 locations throughout the country.

(Please note: Stock exchanges typically set the ex-dividend date two business days before the shareholder-of-record date. This means if you purchase stock on the ex-dividend date or after, you will not receive the next dividend payment. If you purchase before the ex-dividend date, you will receive the dividend.)

This news release contains forward-looking statements that involve risks and uncertainties. The following factors, among others, could cause results to differ materially from management expectations as projected in such forward-looking statements: weather and other factors affecting new store construction schedules, availability of pharmacists, store managers and other personnel, and licensing and regulatory issues that could affect store opening schedules. Investors are referred to the “Cautionary Note Regarding Forward-Looking Statements” in Walgreen’s most recent Form 10-K, which Note is incorporated into this news release by reference.

Walgreen Co. Corporate CommunicationsTiffani Washington(847) 914-2925INTERNET: http://www.walgreens.com