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• WMT 71% Rate It

Retail superpower Wal-Mart Stores, Inc. ( WMT ) on Monday saw its shares plummet in premarket trading, following a New York Times report that company employees bribed Mexican officials over a period of several years.

The report also alleges that company management tried to cover up the wrongdoing by preventing a complete investigation of the misconduct.

Wal-Mart claims that it has cooperated with federal authorities throughout the investigation, and that its own investigators will continue to collaborate with officials from the Department of Justice and Securities and Exchange Commission.

The Times report alleges that the initial bribery investigation was handled mainly by Wal-Mart's general counsel in Mexico, who is the very person accused of authorizing the bribes in the first place. Further, WMT's then-CEO Lee Scott allegedly reprimanded internal investigators at the time for being too aggressive with their probe.

Wal-Mart shares fell $3.15, or -5%, in premarket trading Monday.

The Bottom Line
Shares of Wal-Mart ( WMT ) have a 2.55% dividend yield, based on Friday's closing stock price of $62.45. The stock has technical support in the $56-$58 price area. The shares are trading withing 10% of all-time highs.

Wal-Mart Stores, Inc. ( WMT ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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