Jan 30, 2024 - Business

Walmart announces stock split to help workers buy shares

Dan Primack

Photographer: Victor J. Blue/Bloomberg via Getty Images.

Walmart on Tuesday announced a three-for-one stock split, as its shares are approaching the all-time high set in November.

Why it matters: The retailer says the move is being driven, in part, by its desire to let store workers (aka "associates") purchase company stock.

"Sam Walton believed it was important to keep our share price in a range where purchasing whole shares, rather than fractions, was accessible to all of our associates," explained Walmart president and CEO Doug McMillon in a statement.
Walmart added that the split plan follows an "ongoing review of optimal trading and spread levels."

The bottom line: This would be Walmart's 12th stock split in its history, but its first since 1999.

Go deeper: Walmart adding store manager perk after hiking pay, bonuses

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Walmart announces stock split to help workers buy shares

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