Why Is Walmart (WMT) Stock Up Today?

Walmart (NYSE:WMT) stock is on the rise today thanks to a few pieces of news surrounding the retail giant for Thursday.

Image of Walmart (WMT) logo on Walmart store with clear blue sky in the background
Source: Jonathan Weiss / Shutterstock.com

The first bit of news affecting WMT stock today is a dividend increase. Walmart is bumping its quarterly dividend up to 56 cents. This has it matching the industry standard of 1.4%. The company’s earnings per share are plenty strong enough that it shouldn’t have a problem paying this dividend regularly.

Next up is a reported increase in the valuation of Walmart’s Flipkart initial public offering (IPO). According to inside sources, this has it seeking a valuation between $60 billion and $70 billion. For the record, the previous valuation was $50 billion.

So when can investors expect Flipkart to go public? The e-commerce company wants to further builds its value before doing so. Keeping to that plan, it doesn’t plan to hold an IPO until some time in 2023.

Another interesting bit of news today is upgrades to Walmart’s Home Office campus. The company has added two new amenity buildings for associates to make use of. The first of these is the Walton Family Whole Health & Fitness building and the second is a Child Care Center.

Finally, Walmart wants to bring more truck drivers to its fleet with increased pay. It’s now offering starting pay between $95,000 and $110,000 a year for truckers. To put that in perspective, its previous average starting salary was $87,000 per year.

WMT stock is up 1% as of Thursday morning.

Investors seeking more stock market news for today are in the right place!

InvestorPlace has all the latest stock market news that traders need to know about for Thursday! That includes this morning’s biggest pre-market stock movers, the latest oil stocks news, as well as what happened with Twilio (NYSE:TWLO) shares yesterday. You can learn all about these topics at the following links!

More Stock Market News for Thursday

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


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