From Nasdaq:

Shares of Walgreens Boots Alliance fell as much as 10% earlier this week after a historic dividend cut overshadowed reasonably solid quarterly results. Quarterly revenue grew 10% year over year, to $36.7 billion, while adjusted earnings simultaneously declined more than 43% to $571 million, or $0.66 per share. The company lowered its quarterly dividend payout by 48% to $0.25 per share, ending a 47-year streak of dividend increases. Management blamed the shrinking earnings on “challenging retail market trends in the U.S.,” as well as a 21 percentage-point headwind from higher taxes.



Read more: Why Walgreens Boots Alliance Stock Fell 4% This Week