Wal-Mart Stores Inc. of Bentonville said Thursday that its board of directors approved an annual dividend of $1.59 per share, up 9 percent from $1.46 per share paid during fiscal year 2012.
"We are pleased that the strength of our financial position allows Wal-Mart to again increase our dividend payout to shareholders," Mike Duke, Wal-Mart’s president and CEO, said in a news release.
"Our free cash flow continues to fund store growth across all our markets, facilitate strategic acquisitions and deliver returns to shareholders through dividends and share repurchase. We returned $11.3 billion to shareholders through dividends and share repurchase during fiscal 2012.
Duke said the world’s largest retailer has "high expectations" for fiscal year 2013.
"Our core Wal-Mart U.S. business is back on track. International remains our strong growth engine and Sam’s Club continues to drive sales momentum," Duke said. "And we will continue to build our e-commerce capabilities to serve more customers around the world."
Last week, Wal-Mart reported that its namesake discount stores saw a 1.5 percent same-store sales increase, its second consecutive quarterly gain after facing a more than two-year slump.
In all, the company reported fourth-quarter net income was $5.16 billion, or $1.50 per share, down 15 percent from $6.05 billion, or $1.70 per share, in the year ago period.
Wal-Mart has increased its dividend every year since the first declared dividend of 5 cents per share in March 1974.
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