Walmart boosts dividend
by March 1, 2012 12:19 pm 72 views
Walmart shareholders will receive an about 9% dividend increase in fiscal 2013 as the retail giant rewards investors who stay on board.
The Wal-Mart Stores Inc. board of directors approved an annual dividend of $1.59 per share, up from $1.46 per share paid last year. The company said it will pay the dividend in four equal quarterly installments of roughly 39 cents a share in the months of January, April, June and September.
“We are pleased that the strength of our financial position allows Walmart to again increase our dividend payout to shareholders,” said Mike Duke, Walmart CEO and president.“Our free cash flow continues to fund store growth across all our markets, facilitate strategic acquisitions and deliver returns to shareholders through dividends and share repurchase."
Duke said the company returned $11.3 billion to shareholders through dividends and share repurchase during fiscal 2012.
“We have high expectations for fiscal year 2013,” said Duke. “Our core Walmart U.S. business is back on track. International remains our strong growth engine and Sam’s Club continues to drive sales momentum. And, we will continue to build our e-commerce capabilities to serve more customers around the world.”
Walmart has increased its dividend every year since the first declared dividend of 5 cents per share in March 1974.
Shares of Wal-Mart Stores Inc. (NYSE: WMT) were trading lower at $58.83 mid-day Thursday (Mar. 1). In the past 52 weeks the share price has ranged from a high $62.73 to a low $48.31.