Business

Walgreen approves $1 bil. stock repurchase plan

Posted October 12, 2010 11:00 pm

Associated Press

DEERFIELD — Drugstore chain Walgreen Co. said Wednesday it approved the repurchase of up to $1 billion in stock through the end of 2012.

Walgreen authorized a buyback of up to $2 billion in stock in October 2009. It finished buying those shares in September. The company had 973.2 million shares on the market as of May 31, and its stock has traded between $26.26 and $40.69 over the last year.

Walgreen also declared a quarterly dividend of 17.5 cents. It plans to pay the dividend on Dec. 11 to shareholders of record as of Nov. 15.

The company runs 7,580 stores around the country, which is about 500 more than its nearest rival, CVS Caremark Corp. Walgreen also runs walk-in retail clinics and health centers on work sites.

In afternoon trading, Walgreen shares rose 94 cents, or 2.8 percent, to $34.98.

Article Comments

Article Categories
Business Communities Counties Deerfield Lake County

Article Comments

Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.