Dividend aristocrat Target Corporation (TGT) increases its quarterly dividend from $0.66 to $0.68 which is a 3.0% increase.
The dividend is payable September 10th, 2020, to shareholders of record at the close of business on August 19th, 2020. 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. One more year and Target will be a dividend king.
Based on the new yearly dividend amount of $2.72 and a closing price of $116.90, the current forward yield is 2.30%.
The stock price of Target Corp is having a difficult time due to the corona-virus and is YTD down more than-7.8% but recovered from a -30% dip, as the chart below shows.
