WalMart has released its annual bonus and incentive packages for the 2017/18 financial year, revealing that the company has increased its share price by more than $3bn.
The company has now raised its share prices by more then $2.5bn since it posted its results in the second quarter of 2019, and its total annual cash flow has increased by $3.6bn since the end of the financial year.
That is the first increase in a year since the company reported its results for the first quarter of 2020.
The company said that its stock price had increased by approximately 2.4% on the first day of trading, to $66.63, a 24% increase in just three weeks.
While it did not release the full range of the bonuses, the company’s share price jumped as high as $76.75 in the first six minutes of trading.
This was followed by an increase of $1.1bn in cash bonuses for employees and non-employees, and an increase in the number of share options issued, by more $1bn.
It said that the bonus program has helped increase earnings per share by 2.2% over the past year, to a reported $2,822 in 2017/2018.
The bonus package will pay a total of $25.5 billion in bonuses to the full-time equivalent of 1.2 million full-timers.
This is a record year for the bonus plan.
Walmart said that it will also be offering bonuses for some of its associates in its local stores and on its website, and through its mobile apps.
It will also offer an additional $2 billion in annual incentive payments to help increase its earnings by another $4.5b.
The annual incentive package will provide cash to employees in the form of pay raises, stock options and bonuses, and this will be phased out over the next few years.
Walmart has previously announced that it would be giving $50,000 to any employees who have not earned at least $100,000 in the past 12 months, a move which sparked the first public backlash from unions.