Walmart raises annual dividend by 9%, marks 51st year of increases

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Walmart raises annual dividend by 9%, marks 51st year of increases

BENTONVILLE, Ark. - Walmart Inc. (NYSE: NYSE: WMT ) has announced an increase in its annual cash dividend for fiscal year 2025 to $0.83 per share on a post-stock split basis, marking a roughly 9% rise from the previous fiscal year's dividend of $2.28 per share. This increment signifies the company's largest dividend boost in over a decade.

The retail giant's Board of Directors has approved the dividend to be distributed in four quarterly installments, with record dates set for March 15, May 10, August 16, and December 13 of 2024, and corresponding payable dates on April 1, May 28, September 3, 2024, and January 6, 2025, respectively.

Walmart's executive vice president and chief financial officer, John David Rainey, expressed the company's pride in increasing its annual dividend for the 51st consecutive year. He attributed the hike to confidence in Walmart's growth potential and cash flow.

In related news, on January 30, 2024, Walmart disclosed a 3-for-1 forward stock split authorized by its board. As a result, shareholders of record as of February 22, 2024, will receive two additional shares for each share held, with the distribution occurring after the market closes on February 23, 2024. The post-split trading of Walmart's common stock is scheduled to commence on February 26, 2024.

Walmart Inc. operates as a global omnichannel retailer, with weekly visits from approximately 255 million customers to its over 10,500 stores and eCommerce platforms across 19 countries. With a workforce of around 2.1 million associates worldwide, the company reported a revenue of $648 billion for fiscal year 2024.

This dividend announcement and stock split information is based on a press release statement from Walmart Inc.

InvestingPro Insights

Following Walmart's announcement of its annual dividend increase and the forward stock split, investors and market watchers are keenly observing the company's financial metrics and analyst predictions. According to InvestingPro, Walmart has consistently raised its dividend for an impressive 51 consecutive years, underscoring its commitment to shareholder returns. Additionally, the company's dividend yield stands at 1.34% as of the last twelve months leading up to Q3 2024.

InvestingPro data highlights Walmart's robust market capitalization of $458.65 billion, with a Price/Earnings (P/E) ratio of 28.21, which adjusts slightly to 27.57 for the last twelve months as of Q3 2024. These figures suggest a stable valuation relative to the company's earnings. Moreover, Walmart's revenue growth of 6.44% over the same period indicates a healthy expansion of its business operations.

For investors seeking a deeper dive into Walmart's stock performance and financial health, InvestingPro offers additional insights. Currently, there are 13 analysts who have revised their earnings estimates upwards for the upcoming period, reflecting a positive outlook on the company's profitability. For those interested in accessing these financial analyses and more, InvestingPro provides comprehensive coverage, and users can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. Furthermore, there are 5 more InvestingPro Tips available for Walmart, providing a broader perspective on the company's stock and industry performance.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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