Retail giant (NYSE: WMT) bucked Tuesday's market pullback, rising more than 3% as the S 500 declined 0.6%. The upbeat day for the megacap stock was due to the retailer's strong earnings report, which featured revenue and earnings per share significantly ahead of analysts' average forecasts.

But the one metric income investors likely focused on was the company's latest dividend increase. On Tuesday, management announced its highest quarterly dividend raise in over 10 years.

Here's a closer look at Walmart's strong earnings report and dividend increase.

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Source Fool.com