Walgreens Increases Dividend by 28.6% to $0.225

The board of directors of Walgreen Co. (NYSE:

) (NASDAQ:

) today increased the quarterly dividend 28.6 percent – the largest quarterly dividend increase in the company's 110-year history – to 22.5 cents per share from the previous rate of 17.5 cents per share. The dividend is payable Sept. 12, 2011, to shareholders of record Aug. 19, 2011. The dividend increase raises the annual rate from 70 cents per share to 90 cents per share.