Wal-Mart unveils $15B buyback to shareholders

FAYETTEVILLE, Ark. — Wal-Mart Stores Inc. says it is launching a $15 billion share repurchase program.

The buyback announced Friday at the company's annual meeting will replace a previous $15 billion repurchase plan begun a year ago. The company bought back 244 million shares worth $12.9 billion under that program.

The company also increased its dividend in its current 2012 fiscal year from $1.21 to $1.46 per share, an increase of 21 percent that returned $1.3 billion to shareholders.