Investors in Walmart (WMT) are eagerly anticipating a stock split at the end of this week.
For the 12th time in 50 years, Walmart is set to carry out a stock split to make shares more accessible for its employees. The last time Walmart conducted a 2-for-1 stock split was on April 20, 1999. This time, it will be the company’s first 3-for-1 stock split.
Here’s how it will work: Shares issued in the stock split will be payable after market close on Friday, Feb. 23, for investors who own shares of the retailer “at the close of business” on Thursday, Feb. 22. On Monday, Feb. 26, at market open, Walmart will begin trading on a post-split basis.
This split will increase the number of shares of Walmart’s outstanding common stock to approximately 8.1 billion from 2.7 billion shares before the split. Although the stock will trade at a lower price, it won’t change the underlying value of existing investments in the company.
In a note to clients, CFRA analyst Arun Sundaram explained that the action is “purely…
2024-02-22 13:54:33
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