Wal-mart Boosts Dividend By 21%
by March 2, 2011 7:00 pm 71 views
Wal-Mart Stores, Inc. board of directors is boosting the company’s annual dividend by 21%.
The Bentonville-based retail giant announced the dividend will increase from $1.21 per share to $1.46 for the current fiscal year.
“The strength of our earnings performance for fiscal 2011 and Walmart’s strong financial position allow us to again increase our dividend payout to shareholders,” said Wal-Mart CEO Mike Duke.
“We continue to generate ample free cash flow to fund store growth across all our markets, make strategic acquisitions and deliver returns to shareholders through dividends and share repurchase. In fact, for fiscal 2011, we returned a record $19.2 billion to shareholders through dividends and share repurchase," Duke added.
Wal-Mart’s profits have remained strong based on its international growth, while domestic sales have struggled.
In its most recent quarter, Wal-Mart recorded net income of $5.02 billion, or $1.41 per share, compared to last year’s comparable quarterly earnings of $4.82 billion, or $1.26 per share.
Shares of Wal-Mart closed up 4 cents at $52.01 on Thursday. The company’s stock has hovered between $47.77-$57.90 during the past year.
Wal-Mart has increased its dividend every year since the first declared dividend of $0.05 per share in March 1974.