20 February 2025 I Bentonville, AR

The board of directors of Walmart Inc. (NYSE: WMT) has declared a regular quarterly dividend of $0.235 per common share, an increase of approximately 13% from the previous quarterly dividend of $0.2075. Payment of the dividend is expected in April 2025.

For calendar year 2025, this marks the ninth dividend increase for the Washington Crossing Advisors Rising Dividend portfolio. All nine changes were increases. The average dividend increase is 6.29% compared with December 2024 indicated levels.

Please contact your financial advisor for a complete list of all portfolio holdings that have, in the past 12 months, increased, decreased, or had no change in dividend.

From the press release: “The Board of Directors of Walmart Inc. (NYSE: WMT) approved an annual cash dividend for fiscal year 2026 of $0.94 per share. This represents a 13 percent increase from the $0.83 per share paid for the last fiscal year. The fiscal year 2026 annual dividend of $0.94 per share will be paid in four quarterly installments of $0.235 per share.”1

About the company: “Walmart Inc. (NYSE: WMT) is a people-led, tech-powered omnichannel retailer helping people save money and live better — anytime and anywhere — in stores, online, and through their mobile devices. Each week, approximately 270 million customers and members visit more than 10,750 stores and numerous eCommerce websites in 19 countries. With fiscal year 2025 revenue of $681 billion, Walmart employs approximately 2.1 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy, and employment opportunity. Additional information about Walmart can be found by visiting corporate.walmart.com, on Facebook at facebook.com/walmart, on X (formerly known as Twitter) at twitter.com/walmart, and on LinkedIn at linkedin.com/company/walmart.”1

IMPORTANT DISCLOSURES: The securities discussed herein do not represent all of the securities held by the WCA Rising Dividend Portfolio as of the date presented and are subject to change at any time, without notice. A complete list of holdings as of the date noted above will be provided upon request. The above is presented to illustrate the application of the strategy only and not intended as personalized recommendations of any particular security. The securities identified and described above do not represent all of the securities purchased, sold, or recommended for client accounts. You should not assume that an investment in any of the securities identified was or will be profitable. Changes in market conditions or a company’s financial condition may impact the company’s ability to continue to pay dividends. Companies may also choose to discontinue dividend payments. All investments involve risk, including loss of principal, and there is no guarantee that investment objectives will be met. It is important to review your investment objectives, risk tolerance and liquidity needs before choosing an investment style or manager. Equity investments are subject generally to market, market sector, market liquidity, issuer, and investment style risks, among other factors to varying degrees. Fixed Income investments are subject to market, market liquidity, issuer, investment style, interest rate, credit quality, and call risks, among other factors to varying degrees.