Walmart (NYSE: WMT) surprised many investors when it announced a stock split in late January. stock splits are most common when share prices are nearing over $1,000, not when a stock trades for around $175 (pre-split).

But Walmart gave a great reason for splitting its stock:

Sam Walton believed it was important to keep our share price in a range where purchasing whole shares, rather than fractions, was accessible to all of our associates.

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Source Fool.com