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Walgreens increases quarterly dividend

BY Allison Cerra

DEERFIELD, Ill. The board of directors at one of the nation’s largest drug store chains increased its quarterly dividend 27.3%.

Walgreens said Wednesday its quarterly rose to 17.5 cents per share from the previous rate of 13.75 cents per share. The dividend is payable Sept. 11, to shareholders of record Aug. 19. The dividend increase raises the annual rate from 55 cents per share to 70 cents per share.

“This increase reinforces our commitment to provide meaningful returns to our shareholders and extends our track record of strong annual dividend growth,” said Walgreens president and CEO Greg Wasson. “We are confident in our growth strategies and our ability to generate strong free cash flow in the future.”

Walgreens has paid a dividend in 311 straight quarters (more than 77 years) and has raised its dividend for 35 consecutive years. The company has increased its dividend by a compound annual growth rate of 24.3% over the last six years, the company said.

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Weis Markets reports rise in Q2 net income

BY Drug Store News Team

SUNBURY, Pa. Weis Markets reported Monday that its second-quarter net income rose to $20.5 million in the quarter ended June 26, compared with net income of $15.2 million a year earlier.

The company credits improvements in efficiencies and sales for the rise in profit.

Revenue increased 6.2% to $653.7 million. Same-store sales remained unchanged compared to the same period a year ago.

“It is clear the economy continues to be a major concern for our customers, who continue to be extremely cautious in their spending,” said David J. Hepfinger, Weis Markets’ president and CEO.

Weis Markets operates 164 stores in Pennsylvania, Maryland, New York, New Jersey and West Virginia.

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Nice-Pak develops ‘zero landfill’ facility

BY Allison Cerra

NEW YORK Nice-Pak Products is focusing on sustainability and waste reduction by turning its Green Bay, Wis., manufacturing plant into a “zero landfill” facility.

“We are putting our sustainable and non-recyclable waste to good use by converting it into fuel pellets that will be consumed in industrial boilers to produce cleaner energy in the form of electricity,” said Brad Zenko, senior director of operations. “Converting our waste into fuel pellets eliminates approximately 50,000 cubic feet of landfill per year and replaces approximately one million pounds of coal per year.”

Nice-Pak, is one of the largest global producer of premoistened wipes, including brands such as the original Wet-Nap moist towelettes, Sani-Hands instant hand sanitizing wipes, and Sani-Cloth germicidal disposable wipes.

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