Shares of Walgreens dove early Friday, a day after the drugstore chain said it was suspending its dividend, breaking a streak of quarterly shareholder payouts that stretches back more than 90 years. The drugstore chain said Thursday after markets closed that it made the move to strengthen its balance sheet and improve free cash flow as company

Cash needs for the next several years, “including with respect to litigation and debt refinancing,” were important considerations, the company said.

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