WBA - a dividend king steps down

Walgreens Boots Alliance (WBA) announced Q1 2024 results that included a major dividend cut


I have been predicting this dividend cut for more than a year.

For the magnitude of the div cut, WBA share price did not seem to take as severe a hit as I expected. Maybe some element of a cut had already been factored in? Then again, if WBA gets dropped as a Dow component, shares will likely sell off.