Wal-Mart increases its annual dividend 44%

The board of directors of Wal-Mart Stores Inc. has approved an increase in the annual dividend to 52 cents per share, a 44 percent increase from the 36 cents per share paid during the previous fiscal year. According to a March 4 news release, the board also declared a quarterly cash dividend on the common stock of 13 cents per share.

Based upon this announced increase, the company plans to return more than $2.2 billion to its shareholders in the form of dividends this fiscal year.

Wal-Mart has increased its dividend every year since its first declared dividend in March 1974.

The company intends to continue its $7 billion share repurchase program that the board approved Jan. 5.

Wal-Mart announced April 5 as the record date for the annual shareholders meeting, which will occur on June 4, 2004.

As of February 29, the company had 1,477 Wal-Mart stores, 1,471 Supercenters, 538 Sam's Clubs and 64 Neighborhood Markets in the United States. Internationally, the company operated units in Argentina (11), Brazil (25), Canada (236), China (35), Germany (92), South Korea (15), Mexico (623), Puerto Rico (53) and United Kingdom (267).

Wal-Mart also owns approximately 36 percent of Seiyu Ltd. with warrants to purchase up to 69.4 percent of that company by the end of December 2007. Seiyu operates more than 400 stores located throughout Japan.

Wal-Mart's common stock is listed on the New York and Pacific stock exchanges under the symbol "WMT."

According to the list of "Springfield Area's Largest Publicly Held Companies," in the 2004 SBJ Book of Lists, Wal-Mart ranked No. 2 with 2,130 local employees.