Walmart to Enact 3-for-1 Stock Split -- Update

By Ben Glickman

Walmart said on Tuesday it will initiate a 3-for-1 stock split in an effort to make shares affordable for purchase by its associates.

The retail giant said the split was part of the company's "ongoing review of optimal trading and spread levels."

Walmart's stock purchase plan for employees allows certain associates to buy stock through payroll deductions. The program provides for a 15% company match on the first $1,800 per year, the company said.

The shares issued in the split will be payable after the market closes February 23, and shares will begin trading on a split-adjusted basis February 26.

Walmart expects the total number of shares to increase to about 8.1 billion from 2.7 billion.

Write to Ben Glickman at [e-mail]

(END) Dow Jones Newswires

01-30-24 1740ET