Walmart initiates first stock split since 1999
by January 30, 2024 4:57 pm 1,780 views
Bentonville retailer Walmart Inc. (NYSE: WMT) announced details of a three-for-one stock split Tuesday (Jan. 30) as part of its strategy to “maintain accessible share prices” for its employees.
The split, scheduled for Feb. 23, 2024, will result in shareholders receiving two additional shares for each held share, with trading under the existing symbol “WMT” starting on Feb. 26, 2024.
“Sam Walton believed we should keep the price of a share in a range where it felt accessible, so more associates could participate in our company’s success,” Walmart President and CEO Doug McMillon said in a social media post. “We have split the stock 11 times, with the last time being in 1999. We’re excited to continue this legacy today.”
The previous stock splits were all two-for-one.
According to a company news release, Walmart’s board has approved the split, anticipating an increase in outstanding common stock from 2.7 billion to 8.1 billion shares. Adjustments will be made across various aspects, including stock awards, warrants, equity incentive plans, dividends, and buyback programs.
Walmart stock closed Tuesday at $165.59, shy of the all-time high of $169.94 it hit in November. Walmart shares have climbed about 5% this year.
More details are available in the company’s news release.