Wal-Mart Board Approves $15 Billion Share Repurchase Program

BENTONVILLE, Ark., June 5 /PRNewswire-FirstCall/ -- At its 39th Annual Shareholders' Meeting today, Wal-Mart Stores, Inc. (NYSE: WMT) announced that its Board of Directors has approved a new share repurchase program that gives the company authorization to repurchase $15 billion of its shares. This program replaces the previous $15 billion program, which was announced June 1, 2007 and had approximately $3.4 billion of remaining authorization. Under the program, repurchased shares are constructively retired and returned to unissued status.

"We remain committed to returning value to our shareholders through share repurchase and dividends," said Mike Duke, Wal-Mart Stores, Inc. president and chief executive officer. "During the last five years, Wal-Mart has repurchased approximately $21 billion worth of its shares."

In addition to share repurchases made in fiscal year 2010, Wal-Mart will pay more than $4.2 billion to shareholders in the form of dividends during fiscal year 2010. Wal-Mart has increased its dividend every year since March of 1974, when it began paying a dividend of five cents per share. The company is paying an annual dividend of $1.09 per share this fiscal year, a 15-percent increase from $0.95 paid last year.

Wal-Mart Stores, Inc. (NYSE: WMT) serves customers and members more than 200 million times per week at more than 7,900 retail units under 55 different banners in 15 countries. With fiscal year 2009 sales of $401 billion, Wal-Mart employs almost 2.2 million associates worldwide. A leader in sustainability, corporate philanthropy and employment opportunity, Wal-Mart ranked first among retailers in Fortune Magazine's 2009 Most Admired Companies survey. Additional information about Wal-Mart can be found by visiting www.walmartstores.com. Online merchandise sales are available at www.walmart.com and www.samsclub.com.

SOURCE Wal-Mart Stores, Inc.