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Walmart announced a 3-for-1 stock split next month.
Walmart is cutting prices for investors, too.
That's because the major retailer is issuing a 3-for-1 stock split, the company announced Tuesday.
Stock split means dividing one stock into multiple shares. Under the plan announced by Walmart, people who own shares by the close of business on February 22 will receive two new Walmart shares for every share they own.
Walmart price (And die) The shares after the stock split, which will take effect after the markets close on February 23, will be divided by three when the markets reopen on Monday, February 26. So investors will retain the same value of shares – they will only have three times the number of shares they previously owned, each worth a third of the price.
In a statement announcing the news Tuesday after markets closed, Walmart said the decision to do a 3-for-1 split was partly so employees would feel “the stock purchase is easily within reach.”
Walmart shares are hovering near the all-time high of nearly $170 achieved in November.
Company Recently announced It is increasing the average pay of its store managers from $117,000, or just over 9%.
Walmart is scheduled to report fourth-quarter earnings results on February 20. Analysts surveyed by FactSet expected the retailer to report increases in earnings per share, revenue and profits from the previous quarter.
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