Walgreen Company (NYSE:WAG) shares surged by 3%


Dallas, Texas 07/11/2013 (Financialstrend) – Walgreen Company (NYSE:WAG) declared a quarterly dividend of $1.26 annualized, or $0.315 per share. This is an increase of 14.5 percent from the previous dividend of $0.275. The dividend will be payable on September 12, 2013, with an ex-dividend date of August 16, 2013, to stockholders of record on August 20, 2013. The annual yield on the dividend is 2.6 percent. Walgreens has paid a dividend for more than 80 years in 323 consecutive quarters and has raised its dividend for 38 consecutive years. In the last five years, WAG’s annual dividend was increased to $1.26 per share at a growth rate of 45% per share, resulting in a compound annual growth rate of approximately 23%. The company has had global ambitions since last year, when it acquired a 45% stake in a European retail pharmacy giant Alliance Boots for $6.7 billion. The companies together are setting their sights on the pharmacy market in China in the next couple of years. Finally, the company in September 2012 bought a 12% stake in Nanjing Pharmaceuticals. Walgreen’s stake in Alliance Boots can deliver synergies from $125 to $150 million.

Walgreen Company’s (NYSE:WAG) share price rose by 3.015 on Wednesday and closed at $47.85 per share for the day. Intraday prices for the stock touched a low of $46.06 and a high of $48.24 per share. Trading volume stood at 16.53 million shares on Wednesday, with an average one of 6.46 million per day of trading.

Walgreen Company (NYSE:WAG) currently has a 52-week low price of $29.68 and a 52-week high price of $51.25 per share. The market cap is $45.22 billion with 945 million shares outstanding and 63% of institutional ownership.