Janice R. Andrews
Walmart Inc. (NYSE: WMT) announced a 3-for-1 stock split, a major step meant to improve accessibility for its employees and investors. Walmart is committed to making sure that buying shares is still affordable for all parties involved, as evidenced by this decision.
Walmart strategically evaluates best trading and spread levels at the time of the split. Walmart’s Associate Stock Purchase Plan has over 400,000 participating workers. The firm aims to increase associate participation by lowering the barrier to stock ownership.
Walmart’s president and CEO, Doug McMillon, stressed the company’s commitment to Sam Walton’s inclusiveness mission. According to McMillon, “Sam Walton believed 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.”
Walmart has demonstrated its commitment to enhancing the lives of its 2.1 million employees worldwide with programs including competitive pay, full healthcare, and educational perks. The stock split is consistent with Walmart’s long-standing objective of supporting employees’ financial security.
The stock split’s extra shares will be distributed on Friday, February 23, 2024, following market close. For every share held, holders of record as of Thursday, February 22, 2024, will get two extra shares. On Monday, February 26, 2024, post-split trading of Walmart’s common stock under the symbol “WMT” is scheduled to begin.
Walmart expects the stock split to result in a large rise in the number of outstanding common shares, from roughly 2.7 billion to 8.1 billion. Amounts related to dividends, repurchase plans, equity incentive plans, and outstanding stock awards will all be adjusted proportionately.
Walmart plans to modify its Restated Certificate of Incorporation to reflect the stock split and related adjustments by filing a Form 8-K with the U.S. Securities and Exchange Commission after the effective date.
Walmart Inc. is committed to empowering communities and customers throughout the world by utilizing technology and a broad omnichannel footprint to provide convenience and value. Walmart maintains its leadership position in job opportunities, philanthropy, and sustainability, with fiscal year 2023 revenue at $611 billion.
