Walgreen increases dividend for 39th consecutive year

Dividend Aristocrat Walgreen will raise its quarterly dividend by 7,1% from $0,315 to $0,3375 per share.

This marks the 39th consecutive annual dividend increase for the largest drug store chain in the United States.
Walgreen has increased its dividend by at least 20% for the last couple of years. The dividend increase of 7,1%  for 2014 is significantly lower than the annual average of 22,9% over the last 5 years.

The company now has a dividend trackrecord of 39 years. Walgreen is targeting a 30-35% long-term dividend payout ratio.

At the closing price of $69,12 on August 5th, the indicated dividend yield is 2% for Walgreen, based on the new annual dividend payment of $1,35 per share.

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