Target Hikes Dividend 19%
Discount store operator Targetannounced yesterday its third-quarter dividend of $0.43 per share, a 19.4% increase from the $0.36 per share payout it made last quarter.
The board of directors said the quarterly dividend is payable on Sept. 10 to the holders of record at the close of business on Aug. 21. The dividend marks the 184th consecutive payout made since October 1967 when the company became publicly held.
The regular dividend payment equates to a $1.72-per-share annual dividend, yielding 2.5% based on the closing price of Target's stock on June 12.
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