05:22 PM EST, 01/30/2025 (MT Newswires) -- Walgreens Boots Alliance ( WBA ) said Thursday its board suspended quarterly dividend payments, while management refines its capital allocation policy consistent with a long-term turnaround strategy.

The change in capital allocation is intended to strengthen the balance sheet through debt reduction and improved free cash flow, the company said.

Shares of the company fell 8% in after-hours trading.