In a bid to boost employee involvement and capitalize on its soaring stock prices, retail giant Walmart announced on Tuesday a three-for-one stock split. The company aims to make its shares more accessible to employees through its stock purchase plan, with the additional shares set to be payable to eligible shareholders after the market closes on February 23.

Walmart's decision to split the stock comes as its shares hover just below their all-time high. Currently priced at $165.59, the stock is shy of the record-breaking $169.94 it reached in November last year. However, experts predict that the stock split may help Walmart maintain its upward trajectory in the market.

Effective from February 26, Walmart's shares will begin trading on a post-split basis. The move is expected to encourage more employees to participate in the company's stock purchase plan and further align their long-term interests with the success of the organization.

CEO Doug McMillon highlighted the importance of employee participation in a statement, stating, "We felt it was a good time to split the stock and encourage our associates to participate in the years to come." McMillon's emphasis demonstrates Walmart's commitment to ensuring that its employees can share in the benefits of the company's success.

Following the announcement, Walmart's stock experienced a modest rise of about 1% during extended trading. While the stock may not have yet reached its previous all-time high, it has already seen a commendable increase of approximately 5% since the beginning of this year.

As one of the largest employers in the world, with over 2.3 million employees globally, Walmart's decision to split its stock reflects its dedication to providing opportunities for its workforce to actively invest in the company's growth. The move also aligns with its goal of creating a more inclusive and engaged workforce.

Investors and employees alike will be eagerly anticipating the impact of Walmart's stock split and how it may affect the company's future financial performance. As the market evolves, Walmart continues to adapt its strategies to harness its market potential and further propel its growth as a leading retail powerhouse.

This is breaking news, and further updates regarding Walmart's stock split and its implications will be provided as more information becomes available.