A Walgreens store is on June 27, 2024 in the Brooklyn borough of New York.
Spencer Platt | Getty images
Walgreens Boots Alliance suspended its dividend in quarterly cash in the middle of restructuring efforts, the operator of the pharmacy chain announced Thursday.
The actions of the company fell by more than 7% in prolonged exchanges.
“The company’s cash needs in the coming years, in particular with regard to disputes and the refinancing of the debt, have been important considerations in the context of the decision to suspend the dividend,” said Walgreens in A press release.
The decision comes from weeks after the Ministry of Justice has brought legal action alleging that the pharmacy chain knowingly fulfilled millions of prescriptions which did not have a legitimate medical objective.
If he is tried responsible, Walgreens could incur civil sanctions up to $ 80,850 for each illegal prescription, according to the Ministry of Justice.
