(Reuters) -Walmart said on Tuesday it will carry out a stock split of its outstanding shares at a ratio of 3:1, as part of its ongoing review of optimal trading and spread levels.
Shares of the big box retailer rose 1% after the bell.
The company said the stock split would increase the number of outstanding common stock to about 8.1 billion from about 2.7 billion.
The additional shares will be payable after market close on Feb. 23, Walmart said.
(Reporting by Savyata Mishra in Bengaluru; Editing by Arun Koyyur)