Walgreen Co. has increased its quarterly dividend 27.3% to 17.5 cents per share from 13.75 cents per share. The dividend is payable September 11 to shareholders of record August 19.


John Schultz, Walgreen Co., quarterly dividend, president, chief executive officer, Greg Wasson














































































































































































































































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Walgreens raises quarterly dividend 27.3%

July 15th, 2010

DEERFIELD, Ill. – Walgreen Co. has increased its quarterly dividend 27.3% to 17.5 cents per share from 13.75 cents per share. The dividend is payable September 11 to shareholders of record August 19.

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 chief executive officer 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 retailer has increased its dividend by a compound annual growth rate of 24.3% over the last six years.

The chain recently reported June sales of $5.67 billion, an increase of 8.4% from $5.23 billion for the same month in 2009. Sales in comparable stores (those open at least a year) increased 2%.

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