Walmart Inc. (WMT) will raise its quarterly dividend by another 1.9 percent to 55 cents in 2021. This follows a dividend hike of 1.9 percent to $0.54 per share in 2020 and marks the 48th consecutive year of dividend increases by the retailer.

The next dividend will be paid on April 5, 2021 to shareholders of record on March 19, 2021. The new annualized dividend rate of $2.20 per share yields 1.6% at a stock price of $137.66.

Walmart Inc. is operates retail, wholesale and other units, as well as eCommerce websites, located throughout the U.S., Africa, Argentina, Brazil, Canada, Central America, Chile, China, India, Japan, Mexico and the United Kingdom. The company's operations comprise three reportable segments: Walmart U.S., Walmart International and Sam's Club. Although Walmart was incorporated in Delaware in October 1969, the businesses conducted by our founders began in 1945 when Sam M. Walton opened a franchise Ben Franklin variety store in Newport, Arkansas. The company has paid a dividend every year since 1973.