Discount retailer, Wal-Mart Stores, Inc. (WMT) reported on Wednesday that it will likely incur losses related to its bribery allegations.
News of the bribery allegations, which said that Wal-Mart de Mexico officials had paid bribes in attempt to have stores built faster in Mexico were first reported last week.
The expense reached $157 million in 2012 and will rise as the investigations continue. Wal-Mart told the U.S. Securities and Exchange Commission that it is unsure how much the total cost related to this allegation will be due to the complexity of the matter.
Wal-Mart shares were down 37 cents, or -0.49% during premarket trading Wednesday. The stock has increased 23% in the past year.
The Bottom Line
Shares of Wal-Mart Stores, Inc. (WMT) have a 2.51% yield, based on Tuesday’s closing price of $74.77.
Wal-Mart Stores, Inc. (WMT) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.