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Walmart announces 3-for-1 stock split

Published 01/30/2024, 05:32 PM
Updated 01/30/2024, 05:42 PM
© Reuters. The logo of Walmart is pictured outside a store in Mexico City, Mexico July 27, 2023. REUTERS/Henry Romero/File Photo
WMT
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(Reuters) -Walmart said on Tuesday it will carry out a stock split of its outstanding shares at a ratio of 3:1, as part of its ongoing review of optimal trading and spread levels.

Shares of the big box retailer rose 1% after the bell.

© Reuters. Walmart's logo is seen outside one of the stores in Chicago, Illinois, U.S., November 20, 2018. REUTERS/Kamil Krzaczynski/File Photo

The company said the stock split would increase the number of outstanding common stock to about 8.1 billion from about 2.7 billion.

The additional shares will be payable after market close on Feb. 23, Walmart (NYSE:WMT) said.

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