March 8, 2007 / 2:41 PM / 13 years ago

Wal-Mart sets 31 percent dividend increase

CHICAGO (Reuters) - Wal-Mart Stores Inc. (WMT.N) said on Thursday that its board approved a 31 percent increase in the company’s dividend, bringing the annual payout to 88 cents per share from 67 cents per share.

The world’s largest retailer said it plans to return more than $3.6 billion to its shareholders in the form of dividends during fiscal 2008, based on the expected dividend increase.

The company also said that April 5 is the record date for its annual shareholders’ meeting, which is scheduled for June 1.

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