KEY TAKEAWAYS Walgreens Boots Alliance shares are sinking in premarket trading, as the pharmacy chain suspends quarterly dividends to shore up its finances while it works to turnaround its business.The company said it needs to conserve cash to cope with legal challenges and refinance its debt.

U.S.-based pharmacy chain Walgreens Boots Alliance (WBA) suspended its long-standing dividend to preserve cash and prioritize its turnaround

Walgreens is suspending its quarterly dividend as the company works to “evaluate and refine its capital allocation policy" amid its turnaround efforts.