Wal Mart today announced they would be raising their dividend. The company will now pay out $1.09 annually. This is up from $0.95 for the past year. Sales were up at Wal Mart stores and Sams Club stores for the most recent month reported. International sales were down slightly due to currency exchanges. If not for the currency international sales would have also been up.
Wal Mart (WMT) is one of only two stocks in the Dow to have posted a positive gain in 2008. The stock is also one of only two Dow stocks to rise today.
The company looks great right now as it is saving Americans money and providing everything they need in one supercenter.
Look at Wal Mart shares to climb once again in 2009. My target $60 by 12/31/09.