msnbc.com news services
updated 3/6/2008 3:39:29 PM ET 2008-03-06T20:39:29

Wal-Mart Stores Inc. is raising its annual dividend by 8 percent to 95 cents, up from a previous dividend of 88 cents, according to news reports.

For the fiscal year ending Jan. 31, 2009, the Bentonville, Ark.-based retail giant will pay four quarterly installments of nearly 24 cents per share, reports say.

The first quarterly dividend is payable April 7 to shareholders of record as of March 14. Wal-Mart says it plans to return more than $3.6 billion to shareholders as dividends in fiscal 2009..

The Associated Press contributed to this report.

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