UPDATE: Wal-Mart Posts Higher Q4 Profit, Raises Dividend

Wal-Mart Stores WMT reported a rise in its fourth-quarter profit and raised its 2014 fiscal-year dividend by 18%. Wal-Mart's quarterly income from continuing operations surged 7.9% to $5.6 billion, or $1.67 per share, from $5.19 billion, or $1.51 per share, in the year-ago quarter. Its net sales climbed to $127.1 billion. However, analysts were expecting earnings of $1.57 per share on sales of $127.83 billion. Wal-Mart announced its plans to raise its annual FY14 dividend to $1.88 per share versus $1.59 per share in the previous year. Wal-Mart projects FQ1 earnings of $1.11 and $1.16 per share. Wal-Mart shares gained 0.42% to $69.50 in pre-market trading.