Could GlaxoSmithKline’s industry-leading dividend be at risk?
What happened
Shares of U.K.-based Big Pharma giant GlaxoSmithKline (NYSE:GSK) tumbled during the month of October, according to data from S&P Global Market Intelligence, losing nearly $10 billion in market cap in the process. The culprits for the drop appear to be its weaker-than-expected third-quarter operating results and rumblings about a large acquisition.
So what
The clearest issue for GlaxoSmithKline, which is more commonly known as GSK, was its disappointing third-quarter results.
