Today, Walgreen (WAG) announced a 22.6% increase in the company's quarterly dividend. The company's 3rd quarter dividend increases to 9.5 cents per share versus 7.75 cents per share in the same quarter last year. The projected payout ratio based on 2007 estimated earnings of 2.12 will equal 18%. WAG carries an A+ S&P Quality Ranking and is one of Standard & Poor's Dividend Aristocrats.
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