Wal-Mart Increases Annual Dividend
March 06, 2003 12:19:00 PM ET
BENTONVILLE, Ark., March 6 /PRNewswire-FirstCall/ -- The Board of Directors of Wal-Mart Stores, Inc. WMT has approved an increase in the annual dividend to $0.36 per share. The Board also declared a quarterly cash dividend on the common stock of nine cents ($0.09) per share, payable April 7, 2003 to shareholders of record on March 21, 2003. Based upon this announced increase, the Company plans to return more than $1.5 billion to its shareholders this year. Wal-Mart has increased its dividend every year since its first declared dividend in March 1974.
The Company announced April 8, 2003, as the record date for the annual shareholders meeting which will occur on June 6, 2003.
As of February 28, 2003, the Company had 1,568 Wal-Mart stores, 1,258 Supercenters, 525 SAM'S CLUBS and 49 Neighborhood Markets in the United States. Internationally, the Company operated units in Argentina (11), Brazil (22), Canada (213), China (26), Germany (94), Korea (15), Mexico (597), Puerto Rico (54) and United Kingdom (258).
Wal-Mart also owns a 34% interest in Seiyu, Ltd. with options to purchase up to 66.7% of that company. Seiyu operates over 400 stores located throughout Japan.
Wal-Mart employs more than 1 million associates in the United States and more than 300,000 internationally. Its securities are listed on the New York and Pacific stock exchanges under the symbol WMT.
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