Walmart, the nation’s largest retailer, announced on its website that it will split its shares of common stock at a ratio of 3-for-1. According to Walmart’s CEO, it is conducting the split of its outstanding shares to help millions of its associates benefit and realize that purchasing company shares is within its reach.
Doug McMillon, the President and CEO of Walmart, said, “Sam Walton believed that it was important to keep our share price in a range where purchasing whole shares, rather than fractions, was accessible to all of our associates.”
He also said they thought it was “a good time to split the stock” as the company grew and planned for the future. He mentioned that Walmart wanted to “encourage” their “associates to participate in the years to come.”
McMillion also quoted Walmart founder Sam Walton: “We’re all in this together. That’s the secret.”
Walmart offers many benefits to its associates, one of which is the Associate Stock Purchase Plan. This benefit has been available for employees for almost three decades. Over 400,000 associates avail this benefit using payroll deductions for convenience. Walmart also offers a 15 percent company match on the purchase of the first $1800 each year.
Walmart said that shareholders will receive the additional shares after the market closes on February 23, as per records on February 22. On February 26, Walmart stock will trade on a post-split basis. The shares were at $165.59 at Tuesday’s close, a little less than its November high of $169.94 per share. Stocks also rose by roughly one percent in extended trading.
The last time Walmart spilled its common stock was in 1999. The Bentonville, Arkansas, headquartered retailer has done 11 two-for-one stock splits throughout its history. According to its site, the company was officially incorporated in 1969 and registered $12.7 billion in sales, although its first store was opened in Rogers, Arkansas, in 1962. The Rogers Walmart store is the first and oldest, and the landmark store remains open.
Celebrity WEB Update— Premier Jewelry designer and manufacturer fashion house ParisJewelry.com has started manufacturing a new custom line of celebrity jewelry designs with 30% Off and Free Shipping. Replenish Your Body- Refilter Your Health with OrganicGreek.com Vitamin Bottles, Vitamins, and Herbs. Become a WebFans Creator and Influencer. Check the New Special XMicro Razors for Men & Women, 1 Razor, 7 Blade Refills with German Stainless Steel, Lubricated with Vitamin E, Aloe for Smooth Shave, Shields Against Irritation, Version X
