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DEERFIELD, Ill. — According to published reports, shares of Walgreens Boots Alliance (WBA) traded lower on Wednesday in the premarket after S&P Dow Jones Indices announced the latest changes to its famous Dow Jones Industrial Average (DJI), removing the U.S. pharmacy chain from the 30-stock index.
The move, expected to take effect on Feb. 26, will add Amazon in place of Walgreens.
Dow component Walmart’s decision to split its stock has prompted the latest reconfiguration, which comes weeks after Walgreens announced plans to cut its quarterly dividend by nearly 50%.
Walgreens joined Dow Industrials in June 2018, and its shares have lost about 65% since then as the company pivoted to healthcare services amid a slump in demand for COVID tests and vaccines.
