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No. of Recommendations: 2
Smart move:

The dividend is $0.3975/share.

A quick look at the Wal-Mart proxy indicates that Walton family ownership is around 1.61 billion shares. So the dividend received by the family is about $640 million. I have no idea if some of the shares are in some way sheltered but assume not. The family potentially saved nearly $182 million assuming the dividend tax rate rises to 43.4% next year.

Not bad for shifting a dividend payment date by four days.

I would have been more aggressive and prepaid all 2013 dividends prior to the end of this year. But I imagine the bad publicity could be problematic...
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