Walmart adds EVs to its fleet

Article Excerpt

WALMART INC. $127 is a buy. The world’s largest retailer (New York symbol WMT; Conservative Growth Dividend Payer Portfolio, Consumer sector; Shares outstanding: 2.8 billion; Market cap: $355.6 billion; Dividend yield: 1.8%; Dividend Sustainability Rating: Highest; raised your quarterly dividend by 1.8% with the April 2022 payment, to $0.56 a share from $0.55. The new annual rate of $2.24 yields 1.7%. Walmart is now buying 4,500 all-electric delivery vans from Canoo Inc. (Nasdaq symbol GOEV), with an option to buy up to 10,000 units. It has not yet said how much it will pay for these vehicles, but expects initial deliveries to begin in 2023. The new vans will help Walmart expand its home delivery service, particularly as the pandemic spurred a big jump in online orders. They will also help the company offset rising gasoline prices and meet its plan to cut its net greenhouse gas emissions to zero by 2040. Walmart is a buy. buy. …

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