news_060107 - WAL-MART STORES INC 800-331-0085...

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WAL-MART STORES, INC. 800-331-0085 FOR IMMEDIATE RELEASE Investor Relations Contacts Investor Relations 479-273-8446 Carol Schumacher 479-277-1498 Pauline Mohler 479-277-9558 Media Relations Contact John Simley 800-331-0085 Wal-Mart Builds on Plans to Drive U.S. Store Returns Company Moderates U.S. Supercenter Growth, Announces $15 Billion Share Repurchase Program BENTONVILLE, Ark. June 1, 2007 – Wal-Mart Stores, Inc. (NYSE: WMT) announced plans today at its annual Shareholders’ meeting to leverage capital resources through a strategy designed to improve returns, productivity and sales within its U.S. stores. The plans include moderating the growth of its U.S. supercenters. The strategy announced today builds on both the Company’s plan to balance returns and growth that was announced at its October 2006 meeting for analysts and investors, as well as the Wal- Mart U.S. three-year road map to improve customer relevancy and returns. This plan is intended to result in higher U.S. return on investment, reduced capital expenditures and higher U.S. comparable store sales. In addition, the Board of Directors approved a new share repurchase program that increases the Company’s authorization to $15 billion. “We are committed to improving return on investment, while continuing to grow in the United States,” said Lee Scott, Wal-Mart Stores, Inc. president and chief executive officer, in addressing the Company’s shareholders at its 37 th annual meeting. “Today’s announcement of this strategy and the share repurchase program underscores Wal-Mart’s commitment to returning value to our shareholders. “In addition to the share repurchase program, Wal-Mart is returning more than $3.6 billion to shareholders in the form of dividends this year,” Scott added. “Wal-Mart has increased its dividend every year since its first declared dividend of five cents per share in March 1974.” As previously announced, the Company increased its annual dividend 31 percent this fiscal year.
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This note was uploaded on 03/28/2011 for the course ACCOUNTING 501 taught by Professor Patriciam.casey during the Spring '08 term at National.

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news_060107 - WAL-MART STORES INC 800-331-0085...

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