Walmart has raised its dividend every year since 1974. See WMT's dividend history, why its yield runs low, and whether it fits your income portfolio.
About $75/year at the current 0.8% yield, before any future raises or reinvestment.
Walmart declared its first dividend in 1974 — five cents a share — and has raised it every year since. That half-century streak earns it a spot on the dividend aristocrats list, but WMT is the oddball among its peers: the yield is one of the lowest of any long-streak dividend stock, and that's by design.
| First dividend paid | 1974 |
| Consecutive annual raises since | 1974 |
| Status | Dividend King and Dividend Aristocrat |
| Payment months | January, April, May, September (schedule set each February) |
| Recent raise pace | Accelerating — high single to low double digits |
| Payout ratio | Roughly a third of earnings |
Current yield, annual dividend, and the exact streak length are shown live in the stats bar above — they update as the data changes.
| Year | Milestone |
|---|---|
| 1962 | Sam Walton opens the first Walmart in Rogers, Arkansas |
| 1970 | Goes public on the NYSE |
| 1974 | Pays its first dividend — five cents a share — and raises it every year after |
| 2020 | Grocery and e-commerce demand surges; the streak rolls on through the pandemic |
| 2024 | Splits the stock 3-for-1 and begins an era of noticeably larger raises |
| Today | More than 50 consecutive years of dividend increases |
Walmart is the largest retailer on earth, and roughly 90% of Americans live within about ten miles of one of its stores. That footprint gives it purchasing power suppliers can't refuse and a logistics network that doubles as the backbone of its e-commerce business.
More than half of Walmart's US revenue is groceries — things people buy weekly in any economy. In downturns, Walmart often gains customers as households trade down. A dividend funded by food sales is about as cycle-proof as retail gets.
Walmart pays out only around a third of its earnings, one of the lowest ratios among Dividend Kings. The rest funds stores, automation, and fast-growing sidelines like advertising and marketplace fees. That cushion is why recent raises have accelerated into double-digit territory — the board has room to be generous.
No honest profile skips this part. Walmart's risks look different from most Kings':
The realistic downside: not a cut — the payout ratio makes that nearly unthinkable — but a yield that stays too low to matter for investors who need income now.
The income callout above shows what a $10,000 position generates at today's yield — and with WMT, that starting number is the smallest part of the story:
Walmart is a dividend-growth engine, not an income anchor — the opposite role from a KO or PEP.
Every major broker offers WMT with fractional shares and free reinvestment — see our platform comparison to choose one, or browse the dividend kings list to compare WMT's streak with the other Kings.
Yes. Walmart paid its first dividend in 1974 and has increased it every year since — more than five consecutive decades — clearing the 50-year bar for Dividend King status. It is also a Dividend Aristocrat as a long-tenured S&P 500 member.
Walmart's yield is low because its share price has grown much faster than its dividend. The company pays out only around a third of its earnings, preferring to reinvest in stores, e-commerce, and automation. Investors get a small but fast-growing payout rather than high current income.
Walmart's dividend is among the safest in retail. The payout ratio sits near a third of earnings, groceries drive steady traffic in any economy, and the company has raised the dividend through every recession since 1974. The tradeoff is a low starting yield, not safety.
Every top broker we review offers WMT with $0 commissions, fractional shares, and free dividend reinvestment.