Walmart (WMT) has announced a 3-for-1 stock split that will take effect in late February. The split will increase the retail giant's outstanding common shares from 2.7 billion to 8.1 billion. For current shareholders, on Friday, February 23rd, the stock split will be payable after market close that day. Walmart shares will then begin trading on a split-adjusted basis starting the following Monday morning. Yahoo Finance's Brooke DiPalma breaks down the details. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith