00:00 It's Benzinga and here's what's on the block.
00:02 Walmart announced a 3-for-1 stock split that will take effect on February 23, 2024.
00:08 The company said shareholders of record as of February 22 will receive two additional shares
00:13 for each share held. The stock split aims to make Walmart shares more accessible for employees to
00:19 purchase through its stock purchase plan. The company has seen strong sales and earnings growth
00:24 recently, benefiting from its grocery and retail operations. Walmart is implementing a stock split
00:29 to enhance employee benefits and loyalty, including raising store managers' salaries to an
00:34 average of $128,000 and revising its bonus program to allow for up to 200% of base salary bonuses.
00:41 It marks Walmart's 12th stock split, with the previous one occurring in 1999. Walmart shares
00:47 closed at $165.59, just below their all-time high of $169.94 set in November 2023.
00:55 For all things money, visit Benzinga.com.
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