Part 3:Valuation of WMT,

Part 2: http://wp.me/p2OaYY-2nB  and

Part 1: http://wp.me/p2OaYY-2np

Stock Splits

Wal-Mart Stores, Inc. was incorporated on Oct. 31, 1969. On Oct. 1, 1970, Walmart offered 300,000 shares of its common stock to the public at a price of $16.50 per share. Since that time, we have had 11 two-for-one (2:1) stock splits. On a purchase of 100 shares at $16.50 per share on our first offering, the number of shares has grown as follows:

2:1 Stock Splits Shares Cost per Share Market Price on Split Date Record Date Distributed
On the Offering 100 $16.50
May 1971 200 $8.25 $47.00 5/19/71 6/11/71
March 1972 400 $4.125 $47.50 3/22/72 4/5/72
August 1975 800 $2.0625 $23.00 8/19/75 8/22/75
Nov. 1980 1,600 $1.03125 $50.00 11/25/80 12/16/80
June 1982 3,200 $0.515625 $49.875 6/21/82 7/9/82
June 1983 6,400 $0.257813 $81.625 6/20/83 7/8/83
Sept. 1985 12,800 $0.128906 $49.75 9/3/85 10/4/85
June 1987 25,600 $0.064453 $66.625 6/19/87 7/10/87
June 1990
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