Walgreens Boots Alliance, Inc. ( WBA ) shares are moving lower on Friday after the company announced on Thursday that it suspended its quarterly dividend.

What To Know: The company announced it is halting its quarterly dividend while the management team reviews and adjusts its capital allocation strategy to match the company’s broader long-term recovery efforts.

The goal is to enhance Walgreen’s financial position by prioritizing debt reduction and improving free cash flow. Furthermore, the company’s cash needs over the next several years, including those related to litigation and debt refinancing, were key factors in the decision to suspend the dividend.

Walgreens said in the press release that, “WBA leadership remains focused on successfully executing against its strategic priorities and maintaining financial discipline, which it believes will deliver sustained value creation over the long term.”

How To Buy Walgreens Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Walgreens Boots Alliance's ( WBA ) case, it is in the Consumer Staples sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

See Also: These Analysts Lower Their Forecasts On Dow After Downbeat Earnings

WBA Price Action: At the time of writing, Walgreens stock is trading 12.4% lower at $10.04, according to data from Benzinga Pro.

Image: via Walgreens Boots Alliance ( WBA ).