BENTONVILLE, Ark. — Walmart’s board of directors has given the company the green light to repurchase $15 billion of its shares, effective June 6, the company announced at its annual shareholders meeting.
This program replaces the previous $15 billion program announced on June 3, 2011. As of June 6, the company had approximately $712 million remaining on the 2011 Authorization. Under the share repurchase program, repurchased shares are constructively retired and returned to unissued status.
“Our strong cash flow enabled the company to invest in growth and repurchase more than $14 billion of our stock during the last two years,” said EVP and CFO Charles Holley. “We’re pleased to continue our share repurchase program with this new $15 billion authorization.”
In addition to share repurchases, the compan