WMT Dividend Calculator
Dividend growth rate (CAGR)
| Year | Yield | Div / share | Annual income | Yield on cost | Cumulative income | Portfolio value | Shares |
|---|---|---|---|---|---|---|---|
| 1 | 0.6% | $0.99 | $75.00 | 0.6% | $75.00 | $15,079 | 92.22 |
| 2 | 0.5% | $1.06 | $97.48 | 0.7% | $172.48 | $21,373 | 105.89 |
| 3 | 0.5% | $1.12 | $119.09 | 0.7% | $291.57 | $29,166 | 117.06 |
| 4 | 0.4% | $1.20 | $140.08 | 0.7% | $431.66 | $38,809 | 126.19 |
| 5 | 0.3% | $1.27 | $160.67 | 0.7% | $592.33 | $50,735 | 133.64 |
| 6 | 0.3% | $1.35 | $181.05 | 0.7% | $773.37 | $65,479 | 139.73 |
| 7 | 0.2% | $1.44 | $201.41 | 0.8% | $974.78 | $83,701 | 144.70 |
| 8 | 0.2% | $1.53 | $221.92 | 0.8% | $1,197 | $106,218 | 148.75 |
| 9 | 0.2% | $1.63 | $242.74 | 0.8% | $1,439 | $134,035 | 152.07 |
| 10 | 0.2% | $1.74 | $264.03 | 0.8% | $1,703 | $168,396 | 154.77 |
Year 1-10 dividend income (preview)
Based on a $10,000 initial investment with $200.00 monthly contributions, DRIP on.
Historical dividends per share
Recent dividends
| Ex-date | Cash amount | TTM yield | Fwd yield | Share price |
|---|---|---|---|---|
| 2026-12-11 | $0.25 | 0.9% | 0.7% | $132.46 |
| 2026-08-21 | $0.25 | 0.7% | 0.7% | $132.46 |
| 2026-05-08 | $0.25 | 0.9% | 0.8% | $130.43 |
| 2026-03-20 | $0.25 | 1.0% | 0.8% | $119.02 |
| 2025-12-12 | $0.24 | 1.0% | 0.8% | $116.70 |
| 2025-08-15 | $0.24 | 1.1% | 0.9% | $100.00 |
| 2025-05-09 | $0.24 | 0.9% | 1.0% | $96.72 |
| 2025-03-21 | $0.24 | 1.0% | 1.1% | $85.98 |
| 2024-12-13 | $0.21 | 0.9% | 0.9% | $94.25 |
| 2024-08-16 | $0.21 | 1.1% | 1.1% | $73.45 |
| 2024-05-09 | $0.21 | 1.3% | 1.4% | $60.44 |
| 2024-03-14 | $0.21 | 1.6% | 1.4% | $61.02 |
Source: Polygon.io. Last 12 dividend distributions, most recent first. TTM yield = sum of last 12 months of payments ÷ share price on ex-date. Forward yield = this payment × detected payout frequency ÷ share price on ex-date.
About WMT
Walmart Inc. — ticker WMT — is the largest retailer in the United States by revenue and one of the longest-running dividend growers in the entire US equity market. The company has raised its dividend in each of the last fifty-plus consecutive years, placing it firmly in the "Dividend King" bracket reserved for companies with streaks of fifty years or longer. The streak began in 1974, only four years after Walmart's 1972 IPO, and has continued through every US recession of the modern era, through the late-1990s big-box buildout, through the 2000s Walmart-versus-Amazon competitive transition, and through the COVID-19 demand shock. The streak's longevity at this scale of business is one of the central reasons WMT occupies a permanent place in many income-focused portfolios — fifty years of unbroken increases through the most aggressive scaling phase in US retail history is structural evidence that the dividend is treated as a contractual-style commitment rather than a discretionary outflow.
Walmart operates in the Consumer Defensive sector, specifically broadline retail and grocery. The business is built on three reporting segments: Walmart US (the domestic Supercenter, Neighborhood Market, and Walmart.com store base), Walmart International (operations across Canada, Mexico, Central America, China, India via the Flipkart majority stake, and other markets), and Sam's Club (the membership-based warehouse-club arm). The combined store and digital footprint generates over six hundred billion dollars of annual revenue, and the operating model is built around scale-driven cost leadership in groceries, general merchandise, and consumables. The grocery share of the mix — over half of US revenue — is what gives Walmart its defensive character: grocery demand is relatively insensitive to the economic cycle, and Walmart's price-leadership position tends to gain share during downturns when consumers trade down from premium retailers.
A recent corporate-action note worth flagging: Walmart executed a three-for-one stock split effective February 2024 — its first split in over twenty years. The split was purely cosmetic in cash terms (every shareholder ended up holding three times as many shares, each entitled to one-third the per-share dividend) but it changed the displayed per-share dividend figures across all historical data. Dividend-tracker services that have not split-adjusted older data will show a discontinuity at February 2024; services that have split-adjusted, including the data feed underlying the calculator on this page, show a smooth continuous per-share series. The 2024 split changed nothing about Walmart's dividend mandate; the company has continued its annual dividend increase pattern through and after the split.
The dividend mandate has been embedded in Walmart's capital-allocation policy for so long that it functions as a structural commitment. Management has consistently prioritized maintaining and growing the dividend alongside reinvestment in the store base, e-commerce technology, and the Sam's Club and international segments, with share repurchases as a meaningful but secondary lever. Walmart maintains an investment-grade credit profile (currently AA-rated), supported by the recurring grocery-led cash flow. Expense ratio is not applicable to individual stocks — the figure you'll see in the calculator above is zero, since there is no fund wrapper between you and the underlying shares. The dividend has never been cut in Walmart's history as a public company, which is the relevant test for a Dividend King.
How WMT pays dividends
Walmart pays cash dividends quarterly, on a January–April–May–September cadence (Walmart's fiscal calendar produces a slightly non-standard payment schedule compared to the typical March–June–September–December cycle used by most calendar-year-fiscal companies). The board declares the per-share amount at the annual increase in February for the new fiscal year, with the four quarterly payments scheduled across the year. The ex-dividend date typically falls one to two weeks before each pay date. Holders who own shares as of the close on the day before the ex-date receive the dividend; holders who buy on or after the ex-date wait for the next quarterly payment. On the ex-date the share price drops by approximately the distribution amount on the open, reflecting the fact that the company has paid the cash out of its balance sheet.
Holders who DRIP through their broker receive additional shares purchased at the prevailing market price around the pay date. Most major brokers offer fractional-share DRIP for Walmart, so the full cash distribution is reinvested even when the per-share amount divided by the share price doesn't produce a whole number. The mechanics are identical to any other quarterly US dividend stock — there is no managed-distribution policy, no covered-call overlay, and the cash that funds the dividend comes from operating free cash flow generated by Walmart US, Walmart International, and Sam's Club combined.
Recent growth pattern: Walmart has typically raised the annual per-share amount once per year, with the new rate taking effect on the first dividend payment following the late-winter announcement. The size of the annual hike has historically run in the low single digits — slower than at faster-growing companies but consistent with what a mature retailer at six-hundred-billion-plus annual revenue can support out of free cash flow while continuing to invest in technology and store-base modernization. The 2024 stock split did not change the underlying dollar-per-share growth trajectory. The calculator on this page uses a recent dividend growth rate to project the income line forward; you can override this with a custom growth rate.
Walmart's dividends are qualified for the long-term capital-gains rate in taxable accounts, given the standard sixty-day holding-period rule. Most buy-and-hold investors clear this threshold easily. In tax-advantaged accounts the qualified-dividend treatment is moot because no current-year tax applies.
Who WMT suits
Walmart suits investors who prioritize income stability, the predictability of a five-decade streak, and exposure to a defensive consumer business with structural cost-leadership advantages, over higher headline yield or faster price appreciation. The yield typically sits in the one-to-one-and-a-half-percent range — below the broader S&P 500 average and well below other long-streak Dividend Kings such as KO or PG. The low yield is not generosity-driven; it reflects the fact that Walmart's share price has appreciated faster than its dividend over the last decade, particularly through the post-2020 e-commerce-acceleration window. The trade-off is the canonical low-yield-quality-grower pattern: a small current cash payment in exchange for a long-streak signal and the participation in the company's continued scaling.
The most useful peer comparisons for WMT depend on which feature a reader is weighting. Against KO and PG — fellow Dividend Kings in consumer-defensive sectors — Walmart offers a similar long-streak signal at a meaningfully lower yield (KO and PG typically yield in the three-percent range, while WMT yields around one percent) but with stronger underlying revenue growth from the e-commerce ramp and international scaling. Against Costco (COST) — the closest peer in the warehouse-retail subcategory — WMT offers a longer streak and a substantially higher absolute dividend yield, while Costco offers a much lower regular yield supplemented by periodic large special dividends and a different ownership-shape exposure. Against Target (TGT) — another Aristocrat in broadline retail — WMT offers higher yield-stability evidence (Target cut its dividend in some earlier corporate-history windows, though its modern streak is intact); WMT's defensive grocery share also produces a more recession-resistant revenue base than Target's higher-discretionary mix.
In taxable accounts, Walmart's dividends benefit from qualified-dividend treatment. In tax-advantaged accounts the treatment is moot. The structural case for WMT in a long-horizon dividend portfolio is the combination of streak length, balance-sheet quality, and the defensive consumer-staples-led business mix — features that together produce one of the most reliable dividend streams in the US equity market, even though the headline yield level is modest. As with any single-stock position, this content is educational only; it is not a recommendation to buy, sell, or hold Walmart, and individual circumstances vary. Retail-sector-specific risks — including e-commerce competitive pressure, wage-cost inflation, and consumer-spending-cycle exposure — should be weighed against the dividend continuity record.
Hypothetical scenarios
Scenario 1: $10,000 invested in Walmart at the start of 2005
Consider a hypothetical purchase of $10,000 of Walmart stock at the start of 2005. At that point the dividend streak was already more than thirty years long, the company had completed its initial nationwide Supercenter buildout in the prior decade, and the next two decades were about to bring the most transformational competitive challenge in its history: the rise of Amazon and the secular shift of general merchandise online. On a split-adjusted basis the entry price implied a per-share figure in the high teens (post the 2024 three-for-one split), and the initial $10,000 would have purchased roughly five hundred fifty split-adjusted shares.
Holding from 2005 through to the present, with quarterly dividends reinvested via DRIP, three forces compound together. First, the per-share dividend grew each year as Walmart maintained the now-fifty-plus-year streak, with annual hikes in the low single digits during the more challenging mid-2010s window and somewhat faster increases as the e-commerce-led recovery took hold. Second, the share count grew as DRIP reinvested every quarterly distribution at the prevailing market price; the 2024 three-for-one split changed the count but not the underlying economic value of the position. Third, the share price climbed broadly across the multi-decade window, with a long sideways consolidation through the mid-2010s as the market priced Amazon's threat, followed by a strong recovery as Walmart's e-commerce build-out (the 2016 Jet.com acquisition, the Walmart+ membership service, the Walmart-fulfillment-services third-party marketplace) demonstrated that the company could defend share in the new competitive shape.
The illustrative outcome is not a precise dollar figure. It depends on the exact reinvestment prices, dividend taxes paid along the way in a taxable account, and the specific entry and exit timing. The structural point is that Walmart's combination of low entry yield, modest per-share dividend growth, and substantial long-run price appreciation produced a total return shape dominated by the price-appreciation component rather than the income line. For a buy-and-hold WMT holder, the dividend has been a steady but secondary contributor, with the primary engine being the company's continued scaling and successful e-commerce defensive transition. WMT is offered as a structural illustration, not a forecast.
Scenario 2: $50,000 today plus $500/month for 20 years
Consider a hypothetical accumulation strategy in Walmart: $50,000 starting capital, plus $500 per month added on a regular cadence for 20 years. The calculator on this page can model this exactly — set Initial investment to $50,000, Extra contribution to $500, Contribution frequency to Monthly, time horizon to 20 years, and leave DRIP on.
The mechanics: each month, the new $500 buys additional shares at the current price, which adds to the share count and therefore to next quarter's dividend. Each quarter, the dividend received from all accumulated shares is reinvested, adding more shares at the prevailing price. Because Walmart's entry yield is low — typically in the one-to-one-and-a-half-percent range — the DCA contribution component dominates share-count growth across the full holding window, with DRIP contributing only modestly to share-count expansion. Over 20 years this dual-track accumulation produces a position whose annual cash distribution is modest in dollar terms relative to the position size, because both the entry yield and the per-share growth rate are below the levels typical of higher-yield Aristocrats.
What's worth focusing on for a WMT-specific projection is the shape of total return rather than the income line alone. For a low-yield, long-streak grower like Walmart, the calculator's projection of the income line captures only part of the structural case for holding. The implicit thesis for a WMT accumulator is that the company will continue its long-run scaling and price appreciation alongside the modest income stream — meaning a meaningful share of expected total return comes from price growth rather than dividends. This is the opposite of the high-yield Aristocrat pattern (where most of total return is income), and it's why WMT often shows up in portfolios as a quality-tilt holding rather than an income-tilt holding. Real outcomes depend on Walmart's future capital allocation, the e-commerce competitive trajectory, US consumer spending patterns, tax treatment in your specific account, and the broader path of US equity markets. Educational only; not a forecast.
Sources & methodology
Dividend history and price data come from Polygon.io's reference and aggregates endpoints. Forward yield is computed as the sum of the most recent four cash distributions divided by the previous-close share price. The dividend growth rate shown on this page is the compound annual growth rate of total annual distributions across the available history in this snapshot.
Last updated: 2026-05-15.
Information here is for educational purposes only and does not constitute investment advice. Past dividend history does not guarantee future payments. Verify all figures with the issuer or a registered financial advisor before making investment decisions.