February 22, 2024

Walmart introduced a three-for-one inventory break up on Tuesday because the retailer’s shares sit slightly below their all-time excessive.

The corporate mentioned the extra shares will likely be payable after the market closes on Feb. 23, to shareholders of report as of yesterday. Walmart’s inventory will begin buying and selling on a post-split foundation on Feb. 26.

Walmart mentioned it selected to separate the inventory partially to permit extra workers to purchase into its inventory buy plan. The corporate “felt it was a very good time to separate the inventory and encourage our associates to take part within the years to return,” CEO Doug McMillon mentioned in an announcement.

Walmart shares rose about 1% in prolonged buying and selling.

The inventory closed Tuesday at $165.59, shy of the all-time excessive of $169.94 it hit in November. Walmart shares have climbed about 5% this yr.

That is breaking information. Please test again for updates.