did walmart stock split in 2024

A clear, source-based summary: Walmart’s board approved a 3-for-1 forward stock split announced Jan 30, 2024, distributed Feb 23, 2024, and trading on a split-adjusted basis began Feb 26, 2024. Thi...

2026-01-14 00:25:00

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Walmart stock split (2024)

Did Walmart stock split in 2024? This article answers that question directly and then walks through the announcement, exact dates, mechanics, rationale, impacts on shareholders and employees, market reaction, regulatory filings and practical next steps. Read on to learn what changed, how your holdings were adjusted, and where to find official documents.

Overview

Yes — did walmart stock split in 2024? Yes. The Walmart Inc. board approved a 3-for-1 forward stock split announced on January 30, 2024, and documented in a Form 8-K filed January 31, 2024. The company set the record date at the close of business on February 22, 2024, declared the distribution (effective) after market close on February 23, 2024, and shares began trading on a split-adjusted basis at the market open on February 26, 2024. The split meant each shareholder received two additional shares for each share held, with per-share prices adjusted proportionately while total market capitalization remained unchanged.

Background

Walmart has historically used stock splits to keep its share price accessible to retail investors and associates participating in employee plans. Over its history, Walmart completed multiple 2-for-1 splits; the 2024 action was the company’s first split in roughly 25 years and the only 3-for-1 split in its record. Management emphasized maintaining affordability and liquidity for long-term shareholders and employees.

Given Walmart’s large market capitalization and long-term investor base, a forward split can improve trading granularity and help smaller investors and associates buy whole shares more easily through programs such as the Associate Stock Purchase Plan.

Announcement and Corporate Rationale

On January 30, 2024, Walmart issued a press release announcing that its board had approved a 3-for-1 forward stock split. The company followed with a Form 8‑K filed January 31, 2024, providing the formal corporate disclosure. In its communications, Walmart management cited several reasons: increasing share accessibility for associates and retail investors, improving trading and spread characteristics, and supporting the company’s Associate Stock Purchase Plan (ASPP) so that more associates can own whole shares.

As of January 31, 2024, according to Walmart’s Form 8‑K and the company press release, management stated the split was intended to make share ownership more practical and to align the share structure with their long-term capital allocation policies.

Board Approval and Corporate Actions

The Walmart board approved the 3-for-1 split and authorized related corporate actions. These included a proportionate amendment to the number of authorized shares in Walmart’s certificate of incorporation and planned mechanical adjustments to outstanding equity awards, restricted stock units, dividend per-share statements, and any share-count-based programs. The company indicated that existing dividend policy and buyback program frameworks would be adapted to reflect the increased share count on a per-share basis while preserving economic value for shareholders.

Terms and Mechanics of the Split

The split ratio was 3-for-1. Practically, that meant for every one Walmart common share held before the split, a shareholder received two additional shares, resulting in three total shares after the distribution. Per-share market prices were reduced in proportion (roughly to one-third) so that aggregate shareholder value remained the same immediately after the split.

Accounting and reporting items were adjusted to reflect the increased share count. Earnings per share (EPS) and other per-share metrics were restated on a post-split basis for historical comparability. Dividend amounts declared on a per-share basis were adjusted proportionally so that total dividend value to a shareholder holding the same economic interest remained unchanged.

Record, Distribution (Effective), and Ex-Split Dates

Key dates you should know:

Announcement: January 30, 2024 (press release).
Form 8‑K filed: January 31, 2024.
Record date: Close of business, February 22, 2024. Holders of record on this date were entitled to receive additional shares under the split.
Distribution (effective) date: After market close, February 23, 2024. This is when the company recorded the change and prepared for brokerage adjustments.
First trading day on split-adjusted basis: Market open, February 26, 2024. On this date, Walmart shares traded at approximately one-third of the pre-split price, subject to normal market movements.

Implementation and Shareholder Procedures

Shares were distributed via book-entry. Most retail and institutional brokerage accounts received automatic adjustments: new share balances reflecting the 3-for-1 ratio appeared in brokerage account records after the distribution date once custodians processed the corporate action.

If you held Walmart shares in street name (held by a broker), your broker/custodian handled the mechanical share increase. Beneficial owners with direct registration or share certificates who were record holders received instructions from the transfer agent regarding share adjustments or certificate reissuance. If you had fractional shares due to the split, companies commonly settle fractions in cash per a stipulated method; Walmart’s announcements and the 8‑K specified how fractional interests were handled (cash-out for fractional shares) — see the company FAQ and the Form 8‑K for the precise fractional-share procedure.

Typical steps for shareholders:

Check brokerage account balances after February 23–26, 2024 to confirm the 3-for-1 adjustment.
Review any communications from your broker or the transfer agent for information on fractional-share treatment or mailed statements.
Contact your broker’s corporate actions desk if your account was not adjusted timely; direct-registered shareholders should consult the transfer agent information included in Walmart’s investor materials.

Impact on Shareholders and Financial Metrics

A forward split changes the number of outstanding shares and per-share metrics but not the proportionate ownership or company market capitalization. Shareholders’ total economic interest remained the same immediately after the split. Example effects:

Market capitalization: No immediate change due to the split itself; market supply/demand could move the market value afterward.
Per-share price: Adjusted to roughly one-third of pre-split prices at the open on February 26, 2024.
Earnings per share (EPS): Historical EPS figures were restated on a post-split basis for comparability, reducing EPS by roughly the split factor (3x more shares lowers EPS per share before any earnings changes).
Dividends per share: Adjusted proportionally; aggregate dividend payments to an unchanged economic owner remained equivalent.
Share count: Outstanding shares increased threefold; authorized share totals were amended proportionately in corporate records as noted in corporate filings.

Effect on Employee Stock Plans

One stated objective of the 2024 split was to make whole-share ownership easier under Walmart’s Associate Stock Purchase Plan (ASPP) and other equity-based compensation programs. With a lower per-share price, associates could purchase whole shares more easily with the same payroll contributions, increasing participation accessibility.

Equity awards, restricted stock and stock units were adjusted on a proportional basis so that the economic value and vesting outcomes were preserved. The company communicated in its FAQ and supporting filings that grant sizes would be converted using the 3-for-1 ratio, and that plan administration teams would update payroll deduction and share allocation systems to reflect the new share count.

Market Reaction and Trading Activity

On the first trading day after the split adjustment (February 26, 2024), Walmart’s per-share price opened at roughly one-third of pre-split levels, consistent with the split mechanics, then moved with normal market activity. Trading volume patterns often change around stock-split dates because lower nominal prices can attract more retail orders and fractional-share activity; media coverage noted elevated attention around the event.

Analysts’ commentary at the time focused on accessibility and employee ownership benefits rather than signaling a change in fundamentals. Short-term price behavior after splits is driven by market sentiment and liquidity — while the split itself does not alter intrinsic business value, increased affordability or renewed retail interest can influence demand in the weeks following the split.

Historical Context

Walmart’s 2024 3-for-1 split is notable in the company’s corporate history. Prior to 2024, Walmart completed multiple 2-for-1 splits (eleven 2-for-1 splits historically). The 2024 split was the first Walmart split in roughly 25 years and the first time the company used a 3-for-1 ratio, making it distinct among the company’s past capital-actions.

This action reflects a long-running practice among large-cap companies to use forward splits as a tool to keep per-share prices within a range viewed as accessible to retail investors and employees participating in purchase plans.

Regulatory Filings and Disclosures

Walmart provided formal disclosure of the split via its January 30, 2024 press release and the Form 8‑K filed January 31, 2024. The company also posted an investor FAQ and a certificate amendment reflecting the updated authorized share count. These documents describe the corporate action, effective dates, fractional-share procedures, and the mechanics for equity award adjustments.

As of February 23, 2024, according to Walmart’s investor FAQ and 8‑K filing, the transfer agent and brokers were instructed to implement the split via book-entry adjustments. Investors were referred to these filings for authoritative procedural details.

Tax and Accounting Considerations

From a U.S. federal tax perspective, forward stock splits generally are not taxable events for shareholders at the time of the split because they receive additional shares without receiving cash or property; bases and holding periods are allocated across the post-split shares. That said, individual tax consequences can vary by situation and jurisdiction. Shareholders with fractional shares settled in cash may have small taxable events connected to the cash payment. Investors should consult a qualified tax advisor for personalized advice.

Accounting for the company required restating per-share metrics (EPS) and updating disclosures in periodic filings following the split. Walmart’s subsequent quarterly and annual reports reflected the post-split share counts and restated per-share amounts where applicable.

Frequently Asked Questions (FAQ)

Will my holdings change in value?

No — did walmart stock split in 2024 change the economic value of your holdings? Immediately after the split, the total market value of a shareholder’s position should have remained essentially the same, excluding normal market price movements. The split changed the number of shares you hold and the per-share price, not your proportional ownership.

Do I need to do anything?

Most investors did not need to take any action. Did walmart stock split in 2024 require manual steps? For holders in brokerage accounts, adjustments were automatic. If you hold certificated shares or are a direct-registered owner, follow the transfer agent instructions provided by Walmart. Contact your broker if the split adjustment did not appear in your account after the distribution date.

How are dividends affected?

Dividends declared on a per-share basis were adjusted proportionally so that total dividend cash to a shareholder with unchanged economic interest remained the same. For example, if a shareholder owned one pre-split share, they would own three post-split shares and receive three times the per-share dividend amount if the company continued to declare the same aggregate dividend value for that owner.

How are options and awards adjusted?

Exchange-listed options, restricted stock units and other equity-based awards were adjusted in accordance with governing documents and applicable exchange and regulatory rules to preserve economic equivalence. Option strike prices were adjusted downward proportionally while the number of underlying shares increased by the split factor. Check your award statements or broker notices for the precise adjusted quantities and strike prices for your positions.

References

Primary sources for this article (titles and reporting dates):

Walmart press release, announced January 30, 2024 (company announcement of 3-for-1 split).
Walmart Form 8‑K, filed January 31, 2024 (SEC filing documenting the corporate action).
Walmart investor FAQ on the 3-for-1 split, published February 23, 2024 (procedural FAQs for shareholders and associates).
Major media coverage summarizing announcement and market reaction: select outlets reported the announcement and trading effects in late January through February 2024 (examples include national business media and market data providers; see media reports dated Jan–Feb 2024).

As of February 23, 2024, according to Walmart’s published materials and filings noted above, the corporate action timeline and mechanics described here were official and authoritative. For precise legal descriptions and the transfer agent’s instructions, consult the company’s Form 8‑K and investor FAQ.

External Links (documents to search on official sites)

Look up these documents directly on Walmart’s investor relations site or the U.S. Securities and Exchange Commission EDGAR system (search terms provided below will find the materials):

Walmart press release, Jan 30, 2024 — corporate news.
Walmart Form 8‑K filing, Jan 31, 2024 — SEC filing documenting the split.
Walmart stock-split FAQ (investor relations PDF), Feb 23, 2024.
Contemporaneous media coverage (business press, Jan–Feb 2024) for market reaction and analysis.

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Reminder: this article is informational and not investment advice. Check official Walmart filings for legal and procedural details and consult your broker, transfer agent, or tax advisor with specific questions about your holdings.

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