Financial/Banking

Bentonville, Ark. -- Wal-Mart Stores said Thursday that it is increasing its annual dividend 21% on the back of strong earnings.

The retailer last month reported a 27% increase in fourth-quarter net income as it benefited from cost-cutting and strong sales overseas. Wal-Mart said it will pay an annual dividend this year of $1.46, up from $1.21. It will pay quarterly dividends of 36.5 cents in April, June, September and January in fiscal 2012, which ends Jan. 31.

New York City -- Foot Locker’s fourth-quarter net income more than doubled to $57 million on fewer charges and improved revenue.

The company reported a 5% increase in sales for the quarter ended Dec. 31, 2010, to $1.39 billion, up from $1.33 billion in the year-ago period. Same-store sales rose 7.3%.

Foot Locker reported net income of $169 million for the full year. That compares with net income of $48 million, in 2009.

The Walmart board approved a hefty 21% increase to what was already one of the retail industry’s richest dividend payouts, the company announced late Thursday. The increase approved by the board puts Walmart’s annual dividend at $1.46 a share for the current fiscal year compared with last year’s dividend of $1.21. The dividend will be paid in quarterly installment of 56.5 cents.

The March issue of Fortune contains the magazine’s annual ranking of the most admired companies and this year’s list shows Walmart slipped two spots from the prior year and now occupies the 11 position.

Fort Worth, Texas -- Pier 1 Imports’ same-store sales increased rose 8.9% in the fourth quarter. The chain also offered earnings guidance for the quarter that was slightly above what Wall Street expects.

Total revenue for the quarter rose 8% to $427 million from $396 million.

For the full year, which ended Feb. 26, same-store were up 10.9% while total revenue rose to $1.4 billion from just under $1.3 billion.

Albany, N.Y. -- Trans World Entertainment said that net income for the fourth quarter rose to $12.4 million $11.4 million as it continued to cut costs by closing more of its f.y.e. (For Your Entertainment) stores.

Total sales for the quarter fell 22%, to $231.2 million. Same-store sales fell 6%.

For fiscal 2010, Trans World posted its fourth consecutive annual net loss. The net loss for the year was $31 million, compared with a net loss of $42.4 million in fiscal 2009.

Walmart executives will take to the road next week to speak at two investor conferences where it would seem unlikely that little if any new information will be shared since the conferences are just two weeks removed from the release of Walmart’s fourth-quarter results.

Matthews, N.C. -- Family Dollar Stores on Thursday said its board rejected a takeover bid by an activist investor, saying it "substantially undervalues the company." In February, Nelson Peltz's Trian Fund offered $55 to $60 per share, or about $6.99 billion, for Family Dollar.

The chain said it also adopted a shareholder rights plan, commonly called a "poison pill," that would significantly dilute shares if a takeover attempt proceeds.