Wal-Mart Likely to Incur Losses Related to Bribery Allegations (WMT)

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.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here