Walmart Declares Three-to-One Stock Split

Walmart Inc. (NYSE: WMT) has declared a 3-for-1 stock split, aimed at optimizing trading levels and ensuring accessibility for associates to purchase shares. With over 400,000 associates participating in Walmart’s Associate Stock Purchase Plan, the company facilitates convenient stock acquisition through payroll deductions, complemented by a 15% company match on the first $1,800 annually.

Doug McMillon, Walmart’s President and CEO, highlighted the importance of keeping share prices accessible for associates, emphasizing the company’s commitment to unity. The stock split aligns with Walmart’s growth and future plans, encouraging associates to engage in the company’s success.

For over six decades, Walmart has prioritized helping people save money and lead better lives, extending its focus to its 2.1 million associates worldwide. The stock split serves as a strategic move to enhance associates’ financial well-being, reinforcing Walmart’s dedication to providing good jobs, rewarding careers, and comprehensive benefits.

The stock split is scheduled for distribution after market close on February 23, 2024, for shareholders of record as of February 22, 2024. Shareholders will receive two additional shares for each share held. Post-split, Walmart’s common stock will commence trading on February 26, 2024, under the existing symbol “WMT.”

Anticipated to increase outstanding common stock from 2.7 billion to 8.1 billion shares, the stock split will prompt adjustments across various aspects. These include outstanding stock awards and warrants, equity incentive plans, dividend rates, and authorized buyback programs. Walmart plans to file a Form 8-K with the U.S. Securities and Exchange Commission post-effective date, reporting an amendment to the Restated Certificate of Incorporation reflecting the stock split and proportional adjustments.

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