BENTONVILLE, Ark. (AP) — Wal-Mart Stores Inc. is raising its annual dividend by 9 percent to $1.59 per share.
The world's biggest retailer says the dividend will be paid quarterly at a rate of 39.75 cents per share. The first such dividend will be paid April 4 to shareholders of record March 12.
The Bentonville, Ark., company has increased its dividend every year since its first declared dividend in March 1974.
Wal-Mart President and CEO Mike Duke also said Thursday that the company's U.S. business is back on track, while international results remain strong.
Last month Wal-Mart reported its fourth-quarter results, which showed its business is rebounding in the U.S. It posted its second consecutive quarterly gain in revenue at stores opened at least a year at its namesake Wal-Mart stores in the U.S.