By msnbc.com staff
Wal-Mart Stores, world’s biggest retailer, has hiked its annual dividend by 9 percent.
The yearly payout will now be $1.59 per share, approximately a 9 percent higher than the $1.46 per share paid during fiscal year 2012. For the current fiscal year ending Jan. 31, 2013, the annual dividend will be paid in four quarterly installments of $0.3975 per share, the company said.
The quarterly dividend of 39.75 cents will be paid on April 4 to shareholders of record on March 12, Wal-Mart said. The retailer has raised its dividend every year since its first declared dividend of $0.05 per share in March 1974.
The retail giant returned $11.3 billion to shareholders through dividends and share repurchase during fiscal 2012, said Wal-Mart’s President and Chief Executive Officer Mike Duke.
Duke noted that the retailer has “high expectations for fiscal year 2013.”
The company’s core U.S. business is back on track, while international remains a strong growth engine and Sam’s Club continues to drive sales momentum, he added.
