Walgreens Boots Alliance Inc WBA shares are falling in extended trading Thursday after the company suspended its quarterly dividend.

What Happened: After the market close on Thursday, Walgreens announced its board is suspending its cash dividend as management continues to evaluate its capital allocation policy as part of a longer-term turnaround strategy.

The suspended dividend is expected to help strengthen the company’s balance sheet by reducing debt over time and improving free cash flow.

“The company’s cash needs over the next several years, including with respect to litigation and debt refinancing, were important considerations as part of the decision to suspend the dividend,” the company said.

“WBA leadership remains focused on successfully executing against its strategic priorities and maintaining financial discipline, which it believes will deliver sustained value creation over the long term.”

How To Buy WBA Stock

By now you're likely curious about how to participate in the market for Walgreens — be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading — either way it allows you to profit off of the share price decline.

WBA Price Action: Walgreens shares were down 7.77% after-hours, trading at $10.52 at the time of publication Thursday, according to Benzinga Pro.

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Photo: Courtesy of Walgreens Boots Alliance.