Target Corp raises dividend for 49th consecutive year

Target Corporation (TGT) will raise its quarterly dividend by 3.0 percent to 68 cents per share in 2020. This marks the 49th consecutive year of dividend increases by this Dividend Aristocrat.

The dividend is payable Sept. 10, 2020 to shareholders of record at the close of business August 19, 2020.  Last year Target hiked its dividend by 3.1 percent to 66 cents quarterly.

The 3rd quarter dividend will be the company's 212th consecutive dividend paid since October 1967 when the company became publicly held.  With the increase announced today, 2020 is on track to be the 49th consecutive year in which Target has increased its annual dividend.

A new annual dividend rate of $2.72 per share yields 2.3 percent to shareholders at a stock price of $118. Year-to-date Target Corp stock has lost almost 8%. The current market cap is $59 billion.

Minneapolis-based Target Corporation (NYSE: TGT) serves guests at nearly 1,900 stores and at Target is a general merchandise retailer selling products through its stores and digital channels. The company's owned brands include Archer Farms, Market Pantry, Sutton & Dodge, Art Class, Merona, Threshold, Ava & Viv, Pillowfort, Room Essentials, Wine Cube, Cat & Jack, Simply Balanced and Wondershop. Its exclusive brands include C9 by Champion, Hand Made Modern, Mossimo, DENIZEN from Levi's, Nate Berkus for Target, Fieldcrest, Kid Made Modern, Genuine Kids from OshKosh and Liz Lange for Target.

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