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.

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

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