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8-K - FORM 8-K - WALGREEN CO | c65483e8vk.htm |
EX-10.2 - EX-10.2 - WALGREEN CO | c65483exv10w2.htm |
EX-10.1 - EX-10.1 - WALGREEN CO | c65483exv10w1.htm |
Exhibit 99.1
News From |
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Walgreen Co. Corporate Communications l 200 Wilmot Road l Deerfield, Ill. 60015 l (847) 315-2500
Contact: | Tiffani Washington (847) 315-2925 |
FOR IMMEDIATE RELEASE | http://news.walgreens.com |
Walgreens Announces Largest Increase to Quarterly Dividend in Companys History and New $2 Billion Share Repurchase Program
Company completes previous $1 billion repurchase program announced in October 2010
DEERFIELD, Ill., July 13, 2011 The board of directors of Walgreen Co. (NYSE, NASDAQ: WAG)
today increased the quarterly dividend 28.6 percent the largest quarterly dividend increase in
the companys 110-year history to 22.5 cents per share from the previous rate of 17.5 cents per
share. The dividend is payable Sept. 12, 2011, to shareholders of record
Aug. 19, 2011. The dividend increase raises the annual rate from 70 cents per share to 90
cents per share.
The board also authorized a new $2 billion share repurchase program, which will expire Dec.
31, 2015.
The company also announced that it has completed the $1 billion share repurchase program
announced in October 2010.
This is our third share repurchase program announced since October 2009. Since then, we have
completed $3 billion in share repurchases and paid $1.1 billion in dividends to shareholders, said
Walgreens President and CEO Greg Wasson. We have continued to deliver on our commitment to return
cash to our shareholders consistent with our capital policy guidelines.
Under those guidelines, Walgreens is committed to maintaining a strong balance sheet and
financial flexibility, investing in core strategies and related strategic opportunities, and
returning surplus cash to shareholders in the form of dividends and share repurchases over the long
term.
(more)
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Walgreens has paid a dividend in 315 straight quarters (more than 78 years) and has now raised
its dividend for 36 consecutive years. Since the beginning of fiscal year 2007, Walgreens annual
dividend rate has increased from 31 cents per share to 90 cents per share, resulting in a compound
annual growth rate of 23.8 percent.
About Walgreens
Walgreens (www.walgreens.com) is the nations largest drugstore chain with fiscal 2010 sales of $67
billion. The company operates 7,733 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 and mail service, along with 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. Take
Care Health Systems is a Walgreens subsidiary that is the largest and most comprehensive manager of
worksite health and wellness 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.)
Statements in this release that are not historical are forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are not guarantees of future performance and involve risks,
assumptions and uncertainties, including those described in Item 1A (Risk Factors) of our most
recent Annual Report on Form 10-K which is incorporated herein by reference and in other documents
that we file or furnish with the Securities and Exchange Commission. Should one or more of these
risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual
results may vary materially from those indicated or anticipated by such forward-looking statements.
Accordingly, you are cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date they are made. Except to the extent required by law, Walgreens does
not undertake, and expressly disclaims, any duty or obligation to update publicly any
forward-looking statement after the distribution of this release, whether as a result of new
information, future events, changes in assumptions or otherwise.
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