Wal-Mart Keeps Dividend-Raising Streak Going
Wal-Martannounced today it was increasing its annual cash dividend for fiscal year 2014 by 18% to $1.88 per share to be paid in four quarterly installments of $0.47 per share each. The company says this is one of the largest dividend increases in its history and that it has increased its dividend every year since it first declared a dividend (of $0.05) in 1974.
"Our global businesses consistently generate strong free cash flow, providing ample opportunities to fund growth across all our markets and to deliver strong returns to shareholders," President and CEO Mike Duke was quoted by the company as saying.
Last year, Wal-Mart returned $13 billion to shareholders in the form of dividends and stock repurchases. The dividend will rise from the $1.59 per share it paid in fiscal year 2013, an increase of $0.29 per share. The payable dates are April 1, June 3, and Sept. 3, this year and Jan. 2, 2014.
The article Wal-Mart Keeps Dividend-Raising Streak Going originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.