Walmart Unveils Three-to-One Stock Split Plan

Walmart Inc. (NYSE: WMT) has revealed plans to implement a 3-for-1 stock split, a move aimed at optimizing trading and enhancing accessibility for associates interested in purchasing shares. With over 400,000 associates currently participating in Walmart’s Associate Stock Purchase Plan, which facilitates convenient stock acquisition through payroll deductions and includes a 15% company match on the first $1,800 annually, the stock split aligns with the company’s commitment to enabling broader employee participation.

Walmart’s President and CEO, Doug McMillon, emphasized the company’s tradition, rooted in founder Sam Walton’s philosophy, of maintaining share prices within a range that allows associates to purchase whole shares rather than fractions. McMillon stated, “Given our growth and our plans for the future, we felt it was a good time to split the stock and encourage our associates to participate in the years to come. As Sam said, ‘We’re all in this together. That’s the secret.’”

For over six decades, Walmart has been dedicated to aiding people in saving money and improving their lives, extending this commitment to its 2.1 million associates globally. The company prioritizes creating opportunities for associates through quality jobs, promising careers, and ongoing investments in compensation, healthcare, and educational benefits. The stock split is viewed as the latest initiative to fortify the financial well-being of associates.

The issuance of additional shares resulting from the stock split is scheduled after market close on February 23, 2024, for shareholders recorded at the close of business on February 22, 2024. Shareholders will receive two additional shares for each share held, and the post-split trading of Walmart’s common stock is set to commence on February 26, 2024, under the existing trading symbol “WMT.”

Walmart’s board has already granted approval for the stock split, which is expected to significantly increase the outstanding common stock from around 2.7 billion shares to approximately 8.1 billion shares. The company anticipates making proportionate adjustments to various aspects, including outstanding stock awards, equity incentive plans, stock dividend, and authorized buyback programs, as outlined in a forthcoming Form 8-K filing with the U.S. Securities and Exchange Commission.

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