Prudent Capitalist
6 months ago
Today's drop is News driven;
Walgreens Boots Alliance Hit With IRS $2.7 Billion Tax Claim
Caleb Harshberger
April 1, 2024, 11:39?AM CDT
The IRS is seeking $2.7 billion in unpaid taxes from Walgreens Boots Alliance due to alleged issues over transfer pricing, following audits of previous tax years, the company reported in recent filings.
The agency issued a Revenue Agent’s Report last quarter, saying it had audited the company’s 2014 to 2017 tax years, filings said. The agency found issues related to transfer pricing and is seeking an additional $2.7 billion plus penalties and interest.
Walgreens Boots Alliance, which owns two major retail pharmacy chains — Walgreens in the US and Boots in the UK—said it disagrees with the report and plans to appeal, filings say, and that could take more than a year to resolve.
“The Company intends to vigorously defend its position on the transfer pricing matter through the IRS’s administrative appeals office and, if necessary, judicial proceedings and is confident in its ability to prevail on the merits,” filings said.
Walgreens Boots Alliance didn’t immediately respond to a request for comment.
https://news.bloomberglaw.com/daily-tax-report/walgreens-boots-alliance-hit-with-irs-2-7-billion-tax-claim
bar1080
9 months ago
WBA lags CVS by miles according to all the major metrics. Here's CVS' recent quarterly dividends which are still growing nicely. What explains the outperformance of CVS?
Date Dividends
Oct 19, 2023 0.605 Dividend
Jul 20, 2023 0.605 Dividend
Apr 20, 2023 0.605 Dividend
Jan 19, 2023 0.605 Dividend
Oct 20, 2022 0.55 Dividend
Jul 21, 2022 0.55 Dividend
Apr 21, 2022 0.55 Dividend
Jan 20, 2022 0.55 Dividend
Oct 21, 2021 0.50 Dividend
Jul 22, 2021 0.50 Dividend
Apr 22, 2021 0.50 Dividend
Jan 21, 2021 0.50 Dividend
bar1080
9 months ago
Walgreens Just Slashed Its Dividend. Stock Is Plunging
"Shares of Walgreens Boots Alliance fell by more than 10% after the pharmacy chain said it is cutting its quarterly dividend by nearly half. Walgreens shares initially jumped 2.4% in premarket trading following the announcement, but tumbled 11% as the regular session began. Adjusted earnings for the first quarter of Walgreens’ fiscal year, disclosed along with the news of the dividend cut, were 66 cents a share, beating the 62 cents a share consensus estimate among analysts tracked by FactSet, and down from $1.16 a share in the same quarter last year."
https://finance.yahoo.com/m/ee25515a-b35b-34e4-8abb-923112313e77/walgreens-just-slashed-its.html