Walmart, the multinational retail corporation, has recently revealed its plans to conduct a three-for-one stock split. This strategic move, according to the company, aims to maintain affordable stock purchase prices for its store-level employees. Under this split, shareholders will receive two additional shares of common stock for each share they currently hold.
The distribution of these additional shares is scheduled to take place after the market closes on February 23. Following the split, Walmart’s stock will begin trading on a post-split basis when the market opens on February 26. As a result of this action, the number of outstanding shares of Walmart’s stock is expected to increase significantly from 2.7 billion to approximately 8.1 billion shares.
Walmart’s stock opened at $167.80 on the New York Stock Exchange on Wednesday, slightly below its recent peak of $169.94 in November. This stock split is seen as a positive development for both the company and its shareholders, as it allows for greater accessibility and affordability for employees interested in purchasing Walmart stock.
By conducting this stock split, Walmart demonstrates its commitment to supporting its store-level employees and ensuring their participation in the company’s growth. This move aligns with Walmart’s ongoing efforts to provide opportunities for its workforce and foster a sense of ownership among its employees.
Overall, the three-for-one stock split by Walmart is a strategic decision that benefits both the company and its store-level employees, allowing for increased accessibility and affordability in stock purchase prices.